Long Island is more than just an extra large suburb (118 miles in fact!) that is within commutable distance to New York City. Long Island offers gorgeous real estate, beautiful beaches and state parks, thriving industries, and waterfront properties that have attracted more than 7.5 million residents to its shore lines. Long Island is not known for being an inexpensive place to live, however. The median home value is nearly $360 thousand. This is significantly higher than the national median of $212 thousand.
Inflated home sale prices led to a decrease in home values in 2006 and 2007. Like the rest of the United States, Long Island had homes that fell prey to this housing bubble. These inaccurate and bloated home values led to more foreclosures in 2008 than the country has ever experienced for.
As such, your neighborhood foreclosure attorney Long Island was busy in the past few years. These record breaking foreclosures surpassed three million and many homeowners sought the help of a foreclosure lawyer long island. Filing for a foreclosure warrants the services of a foreclosure attorney Long Island.
Financial struggles can be one of the most heart breaking and stressful times in a persons life and it helps to ease the stress by hiring an experienced foreclosure attorney Long Island. Worst case scenarios that an experienced foreclosure attorney Long Island can assist you with, such as an upside down mortgage or underwater mortgage, were realities to millions of Americans. An upside down or underwater mortgage is when you owe more on your mortgage than what your home is actually worth. This happened with regular frequency when home values plummeted in 2006 and 2007. As a result, a last resort option for many people was and still is filing for Long Island foreclosures and hiring a foreclosure attorney Long Island. Filing for bankruptcy, too, can also be a very deflating and complex event, so it is in your best interest to hire a bankruptcy lawyer Long Island.
An experienced foreclosure attorney Long Island , NY bankruptcy lawyer, or New york foreclosure lawyer can help you navigate the tenuous world of bankruptcy, foreclosures, short sales, or a Long island loan modification.