Help for New York Homeowners Facing Foreclosure

From his office in Lagrangeville, New York attorney Thomas J. Minotti helps people who are struggling to meet their monthly mortgage payments.

In some circumstances, homeowners want to surrender their home without being financially liable for the balance of the mortgage. If this is the case, choices include a short sale, or a deed-in-lieu of foreclosure.

Short Sale

In a short-sale, the lender agrees to let you sell your house for less than the amount of the outstanding loan. The lender will then take the proceeds from the sale, and forgive the remaining debt. A short sale is often used when the homeowner has had difficulty selling the home at market value, or when the house is now worth less than the amount of the outstanding loan.

Deed in Lieu of Foreclosure

In a deed-in-lieu of foreclosure, you agree to surrender the home to bank, who will sell it. You may qualify if:

  • You are in default and do not qualify for any other options
  • Your attempts at selling the house before foreclosure were unsuccessful

Worried About Losing Your House? Contact New York Attorney Thomas J. Minotti Today

If you're having trouble meeting your monthly mortgage obligations and have questions about how a New York loan modification attorney can help, contact the Law Offices of Thomas J. Minotti, P.C. today.

Call 845-570-9300, email, or complete the online form. Military veterans are eligible for discounted rates.

Mortgage Modification

To avoid foreclosure, it’s important that you seek help from a qualified New York loan modification attorney as quickly as possible. The longer you wait to try to modify your mortgage, the fewer options you’ll have. In some cases, the bank can be… Read More