Short Sale & Foreclosure Attorneys in the Bronx

Protecting Your Home & Family - Call (718) 710-4111

Due to recent economic woes, many people have found themselves suddenly behind on their mortgage payments. This fact, combined with lenders who are not shy about starting foreclosure proceedings, means that many people find themselves in danger of losing their homes. Because we invest so much in our homes, it can be difficult to see the option that is best for you.

At the law firm of Park & Nguyen, our Bronx foreclosure lawyers understand both the emotional and monetary investment you have in your home. We work closely with homeowners who have fallen behind on their mortgage payments and help them determine whether it is possible to save their home, or whether another option, such as a short sale, may be in their best interest.

Working to Help You Keep Your Home

The majority of our clients come to us looking for ways to stop foreclosure actions on their homes. Fortunately, there are options available, including filing for Chapter 13 bankruptcy.

Overall, mortgage lenders prefer to avoid the foreclosure process. It is time-consuming, expensive, and often results in the lender having to assume ownership/management of the property. Much to the benefit of borrowers, this disdain for foreclosure can open up negotiations, including mortgage restructuring and short sales.

Exploring the Benefits of a Short Sale

Foreclosure does not have to be your only option for financial relief. If holding onto your home is not in your best interests, a short sale can offer a significant opportunity for debt forgiveness.

A short sale occurs when a mortgage lender agrees to accept less than the outstanding loan amount to satisfy your mortgage. A short sale allows both a mortgage lender and property owner to avoid foreclosure by selling the property at a loss.