Experiencing severe financial challenges can be one of the most stressful times in your family's life. Not only is your security and peace of mind at stake, but you may also face the very real risk of losing your most significant investment: your home. Even though the situation can seem quite bleak when you are in the middle of it, there are actually a range of legal solutions that can help to stop foreclosure and get you back on solid financial footing.
When New York residents face challenges like job loss, persistent unemployment or a medical crisis, the financial repercussions can affect many parts of their lives. Foreclosure is one example of these consequences and can be devastating for many people. The loss of a home is much more than the loss of a financial investment.
When homeowners struggle with serious financial challenges and find themselves at risk of losing their homes, they often search for any way possible to stop foreclosure. Unfortunately, the desperation and helplessness experienced by many homeowners facing foreclosure make them targets for mortgage fraud or foreclosure fraud. The incidents of mortgage and foreclosure fraud have increased in recent years, often taking the form of short sale scams or foreclosure rescue and loan modification scams.
Becoming a homeowner remains a key aspect of the American dream for many people. And once that dream is attained, people will often go to great lengths to ensure that it does not slip out of their hands. That is one of the reasons that foreclosure, or the risk of foreclosure, is so stressful for many homeowners: they have worked hard to purchase a valuable investment and do not want to lose it because of unfortunate or unexpected circumstances. Fortunately, there are often more legal solutions for people facing foreclosure than many homeowners think.
Many New Yorkers do not have a solid understanding of the foreclosure process. This means that if homeowners receive a foreclosure notice or find themselves dealing with difficult financial circumstances--such as unemployment--that could lead to foreclosure, they often do not know what to do or how to respond. Many people are unaware that there are a range of legal solutions that could provide valuable assistance and may instead fall prey to unscrupulous businesses or organizations seeking to take advantage of struggling homeowners.
Owning a home continues to be one of the primary American dreams. For this reason, most homeowners attempt to protect their home at all costs. When financial challenges occur and homeowners face the risk of foreclosure, this can be an exceptionally frightening and stressful time. Homeowners not only fear the loss of what is probably their biggest investment but also their family's home, a place where special memories were made.
Financial challenges are always tough for New York families. Worrying about which bills to pay, dealing with the harassment of debt collectors and creditors, and trying to find ways to improve their financial outlook can all take a serious toll of families' sense of security and peace of mind. The risk of foreclosure generally ratchets the stress and pressure up considerably, however, because people fear losing their home, which is often their greatest investment.
Even though the recession has technically been over for a while now, residents of Long Island, New York, continue to deal with the fallout. Homeowners who find themselves struggling with financial challenges often face the risk of foreclosure, especially when they are unaware of debt relief options or banks are unwilling to work with them. Unfortunately, foreclosure is a result that benefits no one. New York residents who find themselves in this situation should investigate their options for foreclosure defense, both for their own benefit and the benefit of their neighbors.
Since the recession and financial crisis began in 2008, many New York residents have faced a wide range of financial challenges and setbacks. People have experienced job loss or reduced hours and extended unemployment, which frequently cause difficulty in paying bills. Homeowners have had to worry about losing their homes when the mortgages become too expensive and their homes are no longer worth what they were when they bought them. Foreclosure was a real and imminent concern for many people.