Filing for Chapter 7 bankruptcy requires you to meet qualifying income levels. Since bankruptcy courts discharge most if not all debts, it is an option reserved for only the most financially restricted consumers. If you do not qualify for Chapter 7, you can attempt to file under Chapter 13,...
A New York foreclosure attorney can discharge a mortgage when it is barred by the applicable statute of limitations. In New York, an action to foreclose a mortgage is...
Filing a Chapter 7 Bankruptcy can be an option if you are in the midst of a foreclosure action. Bankruptcy is a federal procedure for dissolving/discharging debts, or in some cases paying debts on a schedule. The United States Constitution authorizes Congress to enact “uniform laws” related to the regulation of...
If a borrower is behind on his or her mortgage payments, he or she may be eligible for several “loss mitigation” options. One of those options is what is called a “deed in lieu of foreclosure” and it will be presented by the bank to...
When faced with foreclosure, a borrower will have several “loss mitigation” options available to them. One of these options is a New York short sale process to stop foreclosure. A short sale is a sale of the property to a third party, which sells for...
The foreclosure process in New York can be long and complex. The good news is that the bank must comply with many regulations before commencing a foreclosure action. Therefore, there are many opportunities that the borrower is presented with to litigate a foreclosure action. Hiring...
Ways to Stop Foreclosure When Served with a Notice of Sale File for Bankruptcy Protection A homeowner can file a Chapter 7 or Chapter 13 bankruptcy and this will automatically stop the sale. Today, an attorney can file your petition electronically with the court, so in essence...
