A loan modification is a long-term solution for Long Island (LI) residents who will never be able to repay an existing loan. Not long ago, our attorneys found many people unfamiliar with LI loan modification agreements. But today, rising numbers of Long Island homeowners facing an upcoming adjustment in their payments under adjustable rate mortgages are in a panic from deep drops in real estate values coupled with tighter credit requirements. As a result, more and more Long Island residents are realizing that losing their homes to foreclosure could be a real possibility. Homeowners are also learning that loan modification may be the answer for saving their homes – the biggest investment of their lives.

A loan modification works by negotiating with your lender for a reduction in the principal balance, interest rate or an extension of the length of the term of the loan. But many homeowners find that negotiating with the bank for a loan modification can be overwhelming. This is why retaining the services of our experienced Long Island attorneys leads to a much higher success rate than negotiating on your own.

Our lawyers are very familiar with the Long Island loan modification process and can represent you in bringing your mortgage lender to reasonable terms that will save your home and get you a payment you can afford. Above all, it is important to remember that no matter what the reason is for your difficulty in paying your mortgage payments, millions of Americans are struggling with the same problem. Begin eliminating worry from your life by contacting us today.

As experienced bankruptcy attorneys in Nassau County, we find people file for bankruptcy for a range of reasons. Each bankruptcy case is unique and our bankruptcy attorneys can explain what will happen to you, your debts and your property when filing for bankruptcy in Nassau. That’s why before rushing to file, we strongly recommend that you talk to a lawyer familiar with the bankruptcy process in the Nassau County area.

Some people file a bankruptcy case when they cannot pay their current bills. Some file when they think they will be unable to pay their future bills. Others suffer from emotional distress and depression because their financial situation is more than they can handle and are looking to release their current debt in order to have their income and property secure for themselves and their family in the future. Many people who have had their wages garnished also benefit from filing for bankruptcy because bankruptcy can stop the garnishment and in some cases even get back some of the money already garnished.

Here are some scenarios our attorneys commonly see in Nassau County that can be effectively resolved through filing for bankruptcy:

• • You are facing foreclosure proceedings against your home.
• • You are being harassed by collection agencies.
• • Your wages and/or bank account have been garnished.
• • Your total debt is more than you could pay, even over a number of years.
• • Your payments on more than one bill exceed 30 days overdue.
• • You have lawsuits pending against you.
• • You have high medical bills not covered by insurance.
• • You are unable to pay income taxes that you currently owe.
• • You have few assets and little or no savings.
• • You have had property repossessed.

If you can identify with any of these situations, filing for bankruptcy may give you a new start. Because of the many rules and regulations governing bankruptcies, it is important to seek council from an experienced Nassau County bankruptcy attorney.