Many Long Island residents, who are struggling with debt and trying to save their homes from foreclosure, may feel that the game is rigged against them. Unfortunately, they may be right. Dozens of mortgage borrowers have filed a lawsuit against Bank of America,...
Foreclosure rates nationwide have been slowly but surely falling since their heights four or five years ago when the housing bust was wreaking havoc on the economy, but they are still relatively high in Long Island. Even as the real estate market appears booming in...
Residents of New York are probably aware of the changes in foreclosure rates over the past few years. Foreclosure rates are rising by a huge amount in New York City, even as they fall nationwide. According to a report by the real estate industry group RealtyTrac,...
New York homeowners are still struggling with mortgage payments even as the nation appears to be slowly recovering from the burst of the housing bubble. Nationwide, foreclosures fell 29 percent in February from their level a year earlier, according to RealtyTrac. They...
As Long Island families facing foreclosure battle endlessly with mortgage lenders, they may feel like characters in a frustrating financial drama. In such situations, homeowners are easily overwhelmed due to limited knowledge of the legal process and the timeline for...
Very few people buy a home anticipating foreclosure. However, circumstances can create a situation where an otherwise-solvent family can suddenly struggle to pay bills, particularly where the home suffers from severe damage due to a natural disaster. Combine this with...
Foreclosure is a disheartening reality for people suffering from financial challenges due to unemployment, natural disaster, medical expenses and other unpredictable circumstances. Regardless of past payment history, a homeowner's sudden inability to make mortgage...
Even after doing everything right, homeowners can find themselves thrust into unforeseen economic hardships due to any number of reasons, from illness to unemployment. Missed payments can lead to mortgage lenders initiating court proceedings for home foreclosure. Each...
Foreclosures, which are often followed by evictions, have been one of the most devastating consequences of the housing market crash. Natural disasters can make the foreclosure process even more trying for affected families. Fortunately, lenders sometimes halt...
Three organizations have issued a warning to Long Island homeowners regarding con artists who falsely promise to stop home foreclosure. According to the U.S. Department of Housing and Urban Development, the New York state attorney general's office and Long Island...
