Understand Your Mortgage Debt When Faced with Foreclosure

Most people take out a mortgage when they buy a house. You probably have a 30 year mortgage, although some mortgages run for shorter term such as 15 years. When you make a mortgage payment, you are likely to be paying for other costs as well, like interest, taxes and insurance. If you have missed…

What are My Options to Keep My Home if I’m Behind on My Mortgage?

Many homeowners on Long Island and in the five boroughs find themselves behind on their mortgage payments and at risk of foreclosure. The reasons may be different, but the result is the same. If you are in this situation you may have some options to keep your home, especially if your financial difficulties are temporary.…

What to Do if you Owe More Than your House is Worth

When the housing market drops, you owe more to the bank than the house is worth and you are struggling to meet your monthly mortgage payments, your first instinct may be to stay and fight to keep your home at all costs. Your house may have been in the family for years, your kids may…