Short Sale a Must?

On January 10, 2013, in Bankruptcy, Foreclosure, by Robbie L. Vaughn, Esq.

Short Sale

I already modified my mortgage, but because of new circumstances I am late again. Must I Short Sale my home now?

Not necessarily.

You may be able to get another loan modification based on your “new circumstances.” The HAMP guidelines were recently changed to address this situation. Homeowners who have defaulted on a trial or permanent HAMP loan modification are now eligible for a new HAMP loan modification. Additionally, the bank can always offer you an in-house loan modification if they want to. You may have several other options you can explore before doing a short sale. One of your options may be a chapter 13 bankruptcy. We have developed several strategies to assist distressed homeowners. A Short Sale is never the first option! It may be a good idea to consult with an attorney before making a final decision.

Foreclosure Defense Attorneys

Call  the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 to discuss your options. 

More Articles :

Mortgage Forgiveness and Bankruptcy

File Bankruptcy, Lose Rent Stabilized Apartment

 

Foreclosure Defense and Loan Modification Increase

On December 5, 2011, in Foreclosure, by John A. Weber IV, ESQ.

Foreclosure Defense and Loan Modifications

Recently we have experienced an increase in the number of our clients receiving loan modifications.  These modifications are both HAMP and In-House, temporary and permanent.  The cause is unknown but for our clients, it doesn’t matter why.  They are just grateful that it is happening.  As the foreclosure world is still in shock with the announcement of the impending closing of Steven J. Baum, P.C., the increase in loan modifications is a good sign for distressed homeowners.  There was never as good a time to defend against foreclosure litigation.  Hopefully the new year will bring more of the same.  These modifications are not good for everybody however.  Each modification should be reviewed with an attorney to decide if the terms of the modification are right for your situation.  If you are currently in foreclosure or in danger of falling into foreclosure, and you have any questions, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 to speak with a Foreclosure Attorney!

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. This website is Attorney Advertising. It does not form an attorney-client relationship. We are a debt relief agency and a law firm that helps people file for bankruptcy relief under the U.S. Bankruptcy Code – Title 11. Prior results do not guarantee a similar outcome. Proudly assisting residents of Long Island, Nassau county, Suffolk county, New York City, Queens, Brooklyn, Bronx, Staten Island, Manhattan