"To the frazzled homeowner, contesting a foreclosure may seem hopeless, but my team of bankruptcy lawyers Long Island knows how to spot evidence of sloppiness or fraudulent practices. Given the relatively high frequency of predatory lending, misplaced promissory notes, and fraud, foreclosure case dismissal is more common than most people think," said Adam Gomerman, a bankruptcy lawyer NY with additional specialities in Chapter 7 and Chapter 13 law.
Foreclosure cases can be declared as defective in the event of lost or misplaced paperwork, in addition to inaccurately dated documents, Gomerman notes. Such discrepancies are often the result of a previous refinancing, calling into question which of the participating lenders and banks is the mortgage owner. Some judges are thorough enough to discover these fatal defects on their own, but the majority will only review errors presented to them by the homeowner or a representing bankruptcy lawyer Long Island.
In addition to sloppy paperwork, fraudulent proceedings that diverge from the initial loan agreement can also lead to a dismissal. Potentially fraudulent activities include poorly prepared impound accounts, manipulated paperwork, and interest rates that were raised without the proper notification. Emotional distress can also be a factor, the bankruptcy lawyer NY adds, which can be attributed to undue stress from unjustified or misapplied payments, in addition to the wrongful foreclosure itself.
"Long Island in particular is a favorable environment to contest a foreclosure. We have some of the highest foreclosure rates in the country, with a growing collection of judges known to side with the little guy in the case of erroneous paperwork. Even beyond foreclosure, New York judges have a legacy of frustrated dealings with Wall Street that make them inclined to favor homeowners,"
Even if the foreclosure case is not thrown out of court, the process of challenging lenders and banks can buy homeowners valuable time to sort out their finances, Gomerman notes. While uncontested foreclosure cases can conclude in as little as two months, foreclosure defense can extend the process to as long as one year, affording homeowners the breathing room to pursue loan modifications or refinance their homes with the help of a bankruptcy lawyer Long Island, or to free up their funds in order to better cover pending payments.
The Law Offices of Adam C. Gomerman are accessible online at http://www.LIBankruptcyLawyer.com or by phone at (631)BANKRUPT. Gomerman's team of bankruptcy lawyers Long Island are also active on Facebook and Twitter at http://www.facebook.com/