Foreclosure Alternatives in Nassau & Suffolk Counties

Exploring Foreclosure Alternatives in New York

If you have been notified of your lender’s intention to sue for foreclosure, or if you have already been sued, there are actions you can take to improve your situation. Some of these options can help you stay in your home, and others can help you leave your home on favorable terms. At James J. Quail & Associates, P.C., our Nassau County real estate law attorney can guide you through the process, helping you achieve a favorable outcome for your situation.

The Importance of Legal Counsel

When it comes to foreclosure, there are a lot of rules, regulations, and laws involved. At James J. Quaily & Associates, P.C., our legal team is well-versed in all of the elements of foreclosure. Mr. Quail and his associates have sucessfully assisted many homeowners who have been facing foreclosure throughout Long Island, Nassau, and Suffolk Counties, including assisting them with finding alternatives to foreclosure.

These alternatives to foreclosure include the following:

• Foreclosure defenses: Where the lender has engaged in predatory lending, presented fraudulent documents to the court, violated the Fair Debt Collections act, or otherwise acted with unclean hands, we may seek an injunction against the foreclosure and damages for the lender’s abusive conduct.
• Loan modification: If the clients have the means to make substantial payments on the mortgage, we may seek a loan modification. We negotiate for a lowering of the payments to what the clients can afford and reduction of the overall amount due to reflect current property values.
• Deed in lieu of foreclosure: If the client chooses to let the property go, we can confer with the lender to accept the property back as an even exchange with no derogatory credit reporting.
• Short sale: This is a sale to a buyer for less than the amount of the loan. Where the clients want to get out of the loan and have a buyer to take over the property, we promote to the lender to accept this as an even exchange so that the clients do not suffer a deficiency judgment for the difference and may maintain their credit standing.

Personalized Legal Guidance for Your Foreclosure Concerns

At James J. Quail & Associates, P.C., our Nassau County real estate lawyer meets with our clients, learns their situation, goes over their loan documents, and reviews the payment history. Mr. Quail can discuss foreclosure alternatives, answer any questions you may have, and find out what you want to do. Our legal team then passionately pursues their objectives to achieve favorable results.

To learn about the foreclosure alternatives that are available to you, contact our firm today at 516.246.2449! We offer free 30-minute consultations to help you get started.