There is a lot of misinformation out there when it comes to foreclosure
Because so many people have had to deal with a foreclosure situation in the past (hundreds of thousands of them in just the last two or three years), people are understandably terrified about the prospect of foreclosure – and that’s why these myths and misconceptions are becoming so prevalent.
Media companies (online as well as off) understand that fear sells, and they are willing to do and say just about anything to with people up into a fervor and get them freaked out about their financial future – as well as whether or not they are going to end up homeless if they are served with paperwork pertaining to Long Island foreclosures.
But you won’t have to worry about that poison leaching into your mind if you pay attention to all of the information contained within this quick guide.
Not only will you get all of the answers you’ve been looking for about a Long Island foreclosure attorney situation, but you’ll also get a lot of information about how to choose the right Long Island foreclosure attorney to assist you through this entire process – literally standing by your side every single step of the way.
There’s no reason whatsoever that you should ever have to go through this situation alone, confused, or nervous about your future. When you team up with the kinds of professional Long Island foreclosure attorneys like those at Blutter and Blutter (one of the areas most respected law firms focusing on Long Island foreclosures), you’re going to be in the very best of hands.
After all, these professionals have more than 55+ combined experience at their firm helping people in our Long Island foreclosure attorney community (neighbors, family members, and friends) work through these often times sticky situations – getting them the results they were looking for without too terribly much headache or hassle along the way.
But for now let’s get to breaking down most of the major myths and misconceptions out there regarding foreclosures!
Long Island foreclosure myth #1 – Banks want your home more than they want your mortgage
This is probably the most prevalent foreclosure myth out there, and one that foreclosure lawyer Long Island experts end up having to debunk just about every single time they meet with a new client.
Most people (understandably so) are under the impression that banks are looking to do just about anything and everything they can to steal your property and your home right out from underneath, leaving you homeless.
Literally nothing could be further from the truth.
Sure, there are some predatory mortgage companies out there. And yes, there are some financial services that will do just about anything and everything they can to separate you from your property and your home – just because that’s the kind of operation than they are.
But the overwhelming majority of financial institutions out there, and almost all of the banks you’ll ever come across, are nowhere near interested in taking your home or your property from you.
In fact, the opposite is true!
You see, banks and other legitimate lending operations aren’t in the real estate business. They do not want to have to deal with fixing up your home, maintaining your home, and then selling your home (usually at a loss) just because it ends up costing them a lot more money than they ever wanted to spend.
Instead, they’d rather have you stay in your home, continue to pay your mortgage (even if it means going through a Long Island mortgage modification plan), and then figure out a way to make money moving forward.
Banks almost always lose money when they have to take over a home and then sell it at auction, or even worse – get stuffed with the bill and end up having to try and flip that foreclosure later down the line. It’s just not something that they’re looking to get into, and something that they are actually actively trying to avoid.
The bank does not want your home – they might want your money, but they do not want your home!
Long Island foreclosure myth #2 – Once you get a notice of foreclosure, it’s all over
A lot of people are under the impression that the moment they receive a Long Island foreclosures notice is the moment that everything is set up against them, with things just too far gone to salvage.
Again, literally nothing could be further from the truth.
Any Long Island foreclosure attorney will tell you that this is just the first step in a very long process, a necessary step that triggers a number of different stages in the Long Island foreclosures process and one that you have to expect and anticipate.
Just because you have received a notice of foreclosure does not mean that you are going to end up losing your home, taking it on the chin financially, or tossed out of your property for good. In fact, this is usually just a “motivational notification”, something that has been designed to spurn a bit of action on your part.
Sure, you’ll want to hire a Long Island foreclosure attorney before you get a notification (and especially after you get a notification), but you cannot start to panic. Understand that this is just a phase in the process that needs to be addressed, and doesn’t mean that there has been any judgment passed against you, and you’ll be all right.
Most of the time after a lender has sent you a notification of foreclosure, you’ll be in the prime position of scheduling Long Island mortgage modification negotiations – which your foreclosure lawyer Long Island expert will lead.
They’ll be able to take complete control of the situation and work hand in hand with you and your lender to come to a mutually agreeable payment plan that is (often times) considerably less than your current mortgage payment would have been. Experts in foreclosure lawyer Long Island will be able to assist.
This is a bit of a win-win situation for everyone involved. The mortgage company continues to get paid on the loan that they have provided for you, you get to keep your property, and you don’t have to deal with a major black eye on your financial permanent record.
It really is the best of all worlds.
However, you’re not always going to be able to count on your foreclosure attorney Long Island expert to reach a Long Island mortgage modification plan with your lender. Even still, there are other alternatives that you may be able to take advantage of going forward.
Those are all things that your Long Island foreclosure defense attorney will have to make sure you are aware of.
Long Island foreclosures myth #3 – I don’t have the money to fight and win a foreclosure
Believe it or not, it’s not going to cost you an arm and a leg to fight any of the Long Island real estate foreclosures you may be dealing with.
For one thing, the United States federal government has provided a number of fantastic services and programs that will give you 100% free legal advice (and possibly even a bit of representation) to help you fight Long Island foreclosure attorney situations.
Those programs are definitely recommended in the early stages of the process, though you’ll want to hire real Long Island foreclosure attorney services to do the bulk of your heavy lifting and you’re fighting/negotiation on your behalf.
Secondly, most Long Island foreclosure attorney experts understand that you’re in this foreclosure situation because you’re dealing with financial issues. It wouldn’t make a world of sense to try and squeeze a client for every penny that they have when they are already down on their knees financially, would it?
That’s why (unsurprisingly) so many of the top flight law firms in the Long Island area – including Blutter and Blutter – are willing to do just about everything and anything they can to help their clients get the kind of top-flight service that they’re looking for without breaking their bank account in the process.
It’s a bit of a fine line to walk (admittedly), as you’ll want to hire real professionals that are motivated to get you the best results, but at the end of the day you should find it too terribly difficult to work with the best of the best as far as foreclosure attorney Long Island experts are concerned.
Hire Blutter and Blutter, and you’ll never have to worry about that!
Long Island foreclosures myth #4 – I’d never be able to purchase a home after a foreclosure
This is another of the more pervasive foreclosure attorney Long Island myths out there, and has absolutely no bearing whatsoever on reality.
Even if you have gone through a foreclosure situation in the past, you aren’t going to be “locked out” of being able to buy a home or take out a mortgage in the future. Truthfully, you shouldn’t have too terribly much difficulty getting your hands on a new mortgage if it’s been a bit of time since your foreclosure process completed (we’re talking about two or three years here), but sometimes the right foreclosure defense foreclosure lawyer Long Island can eliminate that “cooling off period” almost completely so that you can get a mortgage just about right away.
Whether or not that makes the most sense for you moving forward is an entirely different topic altogether, but just know that you’re going to have the opportunity to purchase a new home with a new mortgage shortly after your Long Island foreclosure attorney situation has completed.
You’ll have the chance to become a homeowner once again, that’s for sure!
Long Island foreclosures myth #5 – A bankruptcy won’t be able to save my Long Island foreclosure
Finally, it’s important to understand whether or not a bankruptcy proceeding is going to be able to save your Long Island real estate foreclosures.
This is a bit of a difficult topic to handle, if only because every single foreclosure issue is unique and deals with a number of circumstances that cannot be duplicated across the board. However, as a general rule of some, your Long Island foreclosure attorney should be able to at least initiate a bankruptcy proceeding to freeze your foreclosure process if it’s already gone on too long.
At the same time, it may or may not be the right play for you and your financial future, which is why you’ll want to speak with a Long Island foreclosure attorney to figure out exactly what the best plan of action is going forward.
Always work with the best of the best
When you want to make sure that you come out on top of a Long Island real estate foreclosures process, you need to make sure that you aren’t falling victim to any of the myths and misconceptions above – but that you’re also always working with top-flight experts that know what they’re doing.
In the Long Island area, you’d be hard-pressed to find any experts more qualified or more accomplished than the professionals at Blutter and Blutter.
With 55+ combined years of experience serving the Long Island community, helping friends, family members, and neighbors come out on top of a foreclosure situation, you’d have to be at least a little bit crazy not to entertain the idea of hiring them for your representation.
If you are serious about coming out on top of a Long Island foreclosure situation, at least think about calling up the foreclosure attorney Long Island experts at Blutter and Blutter to schedule a 100% free and zero obligation whatsoever consultation with them. These Long Island foreclosure lawyers are the best.
You’ll be able to cover the basics of your case, get some actionable strategies from these professionals, and get a real feel for whether or not they are able to help you move forward.
All you have to do is pick up the phone today, contact their legal offices directly, and then schedule that 100% free consultation with a Long Island foreclosure attorney.
Do so at your earliest convenience to get the ball rolling!