A sophisticated foreclosure lawyer can often tie a foreclosure lawsuit up in court any where from 2 to 3 years. This can give the homeowners the ability to obtain a new job or jobs if they are unemployed, organize their finances, work out mortgage modifications and get their home foreclosure issue straightened out.

Mortgage Modifications

Mortgage loan modifications take time to work out. If you are already behind on your mortgage, you will fall further behind during the process of obtaining a mortgage modification. A foreclosure attorney can tie up your case in Court to give you the time to obtain a mortgage modification before you lose your home.

Selling Your Home In Foreclosure

Many people do not understand that you can sell your home even if it is in foreclosure. The sale of a home in foreclosure may be a bit more complicated than a sale when a home is not in foreclosure, but the home is still saleable. Selling the home will allow the homeowner to pay the bank off and reap the benefits of the increase in value of the home. In addition the homeowner gets to keep the balance of the equity paid at the time of closing after paying off the mortgage. These sums can be utilized to purchase another home in the future.

Selling the home is only one option a homeowner has when their home is in foreclosure. There are many other options available. A consultation with a New York foreclosure defense attorney will be the best way to determine how the homeowner should deal with their situation involving the foreclosure on their home.

The law firm of Schlissel DeCorpo LLP has been helping families deal with mortgage and foreclosure problems for more than 30 years. We can be reached at 718-350-2802, 516-561-6645 or 631-319-8262 or by e-mail at [email protected].