Real Estate Sales, Refinance &
Got a Real Estate Closing on your hands? We are ready to help. Whether you want to buy or sell a home. Contact our office. We are a full service Real Estate Brokerage. The Law Offices of Serrano & Associates, P.C. has the legal knowledge, skills, and experience to advise clients on Real Estate matters in your area. We are proud to extend our professional services to help in all of aspects of your real estate transaction. We can help you fix your credit, find your home and close as your attorneys.
At the Law Offices of Serrano & Associates, P.C., we can also help prevent foreclosures.
Financial difficulties caused by job loss, medical bills, divorce, death and other unexpected factors often leave homeowners unable to meet their monthly mortgage payments on time. Missed payments, followed by mounting late fees and penalties, can soon make catching up seem impossible. Debt, however, does not have to end in foreclosure.
Our lawyers help homeowners struggling with debt avoid foreclosure when possible.
Our skilled real estate attorneys thoroughly evaluate the circumstances of your case to determine which options are available and the likely consequences of each.
Often, homeowners can avoid foreclosure simply by negotiating for a reduced rate or refinancing with their current mortgage lender. With a refinanced loan, borrowers may be able to pay off the current mortgage completely to avoid foreclosure and obtain a lower interest rate, reducing monthly payments to a more manageable level.
Although home prices are on the rise now, many homeowners still owe more than their house is worth because of sharply declining housing prices over the past few years. Under the Home Affordable Refinance Program (HARP), homeowners who are current on mortgage payments but are unable to refinance because of decreased home values may apply to refinance through HARP.
Sales and short sales
When the burden of a home mortgage loan becomes too great, homeowners may be able to sell the real estate before going into default. When a traditional sale is an option, homeowners may obtain a price for the home that usually exceeds what they owe the lender, allowing them to pay off the loan completely.
More often, struggling homeowners owe more on a property than it is currently worth, and a traditional sale would not allow them to pay off the debt. In these cases, experienced short sale specialists can negotiate with the bank for a short sale beneficial for the homeowner.
In a short sale, the lender allows the homeowner to sell the property to a third party at a loss instead of pursuing foreclosure. In fact, a short sale benefits both parties — lenders obtain payment on the loans and homeowners avoid further harm to their credit. If you face a short sale, our lawyers provide comprehensive help, assisting with getting your house appraised, comparing home prices in your neighborhood and negotiating with the loan servicer and any junior lien holders.
Deed in lieu of foreclosure
A deed in lieu of foreclosure is another option, similar to a short sale. With a deed in lieu, the homeowner avoids foreclosure by signing the property over to the lender. This option is typically chosen when the loan amount greatly exceeds the home value. Unlike a short sale, the bank, instead of a third party, obtains the deed to the house.
Real estate transactions are governed by various federal statutes, state statutes, and common laws that address a wide variety of legal issues related to acquiring, financing, developing, managing, constructing, leasing, and selling commercial and residential real property. Buying and selling real estate is generally more complicated than buying or selling other expensive goods, such as cars or boats. With real estate, many different people can have an interest in the same property, tax consequences are more complicated, and possession is not necessarily indicative of ownership. An experienced real estate attorney can help you sort through all of the difficult decisions and negotiations involved in real estate transactions.
Our real estate attorneys have comprehensive knowledge of the different facets of related transactions in the state of New York. We represent both the buyers and sellers of the property involved in commercial, residential, new constructions, cooperatives, developments, townhomes, and multifamily homes.
And when it comes to New York foreclosure law, we are the experts and we get the results. Just ask Wells Fargo, Bank of America, Chase, Selene, Nationstar (Mr. Cooper), Citibank, Rushmore, Bayview and OCWEN… they all know who we are!
Pre-litigation Negotiations/Settlement Discussions
Usury Laws Violations
Real Estate Agent/Broker Misrepresentations
Grant Deeds/Quitclaim Deeds
Contact attorneys with experience in real estate matters to prevent foreclosure at (845) 638-2200.