You come home and find Foreclosure papers on your door and all of a sudden the sky is falling, your heart races and all you can think of is that you will soon be out on the street homeless.
However, nothing could be further from the truth!
Believe it or not, if you are behind on your mortgage and want to keep the house, the filing of a Foreclosure is a good thing as it takes the power away from the banks and puts it in your hands.
Too often when trying to deal with the banks it is like you are up against the machine – you call, wait on hold and are put from representative to representative who are not familiar with your situation and continually say they can’t find or are missing documents and are in as I call it the, “Phantom Document Phase.”
Well the filing of a Foreclosure changes all of that and puts the bank in the cross-hairs!
Once filed you have the ability to defend the Foreclosure and counter-suing the bank for their actions! The bank does not win because they say you owe them money – they win if they can prove they acted property. Too often the bank has fudged the papers, lost documents or engaged in actual fraud. Well this is your time to hit them back!
Also, in New York State, as soon as a Foreclosure is filed the case gets put into the Foreclosure Control Part (FCP). In FCP the court runs a modification program which is overseen by a judge. No more endless phone calls and demands for documents you already sent.
Everything is done in the open, not in a smoky back room and the bank has a duty to act in good faith and to treat homeownes equally.
I urge you to come see me if a Foreclosure is filed to discuss your options – usually I can help but even in those cases where you are in way too over your head and realistically can’t pay a mortgage, I can usually keep you in your home for up to 3 years all the while you are living mortgage and rent free!
So, give me a call and let me see if I can help.
About Gregory Flood
Gregory Flood is a Staten Island Bankruptcy Lawyer with his clients best interests at heart. He has helped thousands of satisfied clients recover from financial problems and get the relief that they need.
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