Working to Avoid Foreclosure
When you’ve worked hard to achieve a dream of property ownership, the threat of foreclosure can be frightening. Don’t let uncertainty and intimidation stop you from understanding your rights and pursuing solutions.
At the Law Office of Phil Napolitano, we help people avoid foreclosure. If keeping your home is your goal,contact us to schedule a free initial consultation.
An Attorney to Seek Alternative Solutions
No matter how threateningly they may behave with you, banks would rather not pursue foreclosure and will generally explore other options, especially if you have a skilled lawyer negotiating on your behalf.
Among the possible options are loan modification agreements, forbearance agreements and payment plans. These agreements can reduce your monthly payments and/or give you time to make up your current missed or late payments.
Bankruptcy may be another option. If you are juggling your mortgage payments with other unsecured debts, such as credit card debt, declaring Chapter 13 bankruptcy on those debts may help you catch up with your mortgage and keep your home.
We can discuss the consequences of all these options with you so you can make an informed decision.Contact us to find out how you can avoid foreclosure.
Unloading the Property, Releasing You From Debt
Are you prepared to give up the property but concerned that you won’t be able to get a sale price that covers your mortgage obligations?
There are several possible solutions that we may be able to negotiate with your bank. Under current conditions in the housing market, they may see one of these solutions as their own best option.
Your lender may be willing to accept the deed in lieu of foreclosure, taking ownership of the property and releasing you from the remainder of your debt to them.
We may also be able to negotiate a short sale, in which your lender agrees to accept the proceeds of the sale as payment in full of your mortgage.
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The Law Office of Phil Napolitano, located in the Bronx, represents clients throughout the New York City area, including the Bronx, Brooklyn, Manhattan, Queens, Staten Island, White Plains, Mineola, Parkchester, Baychester, Belmont, Castle Hill, Fieldston, Longwood, Melrose, Norwood, Riverdale, Woodlawn, and all of Nassau, Suffolk, New York, Kings, Bronx, Richmond, Westchester, and Rockland counties.