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.
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.