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.
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.