Recent news suggests that there has been a rise in foreclosures in the Northeast, specifically in Massachusetts, however this might not be completely negative news. According to Warren Group CEO Timothy M. Warren Jr., this uptick in foreclosures might mean that the real estate market could be on its way to recovery. He predicts that the recent spike in foreclosures could just be a backlog that banks are finally getting around to filing. And if the banks are “catching up”, this could be a good thing for the real estate market.

Historically, Long Island has been known as one of the most delinquent parts of New York state. Despite the hopeful progression toward a more stable market, some Long Islanders still find themselves in a desperate situation, especially this time of year when expenses are at an all-time-high. If you?re based in Long Island and are seeking foreclosure defense, consider speaking with a professional at the Law Firm of Ronald D. Weiss, P.C. that has been helping foreclosure victims in Long Island for years.

Foreclosure defense allows homeowners to assert their rights and oppose a foreclosure proceeding by engaging in litigation defense strategies. Our law firm can assist you right from the start by answering the initial summons and complaint. Considering that 20-30 days from the date of service an answer and/or motion to dismiss is due, it is imperative to file a timely response. That?s just one of the many steps throughout the process that our law firm can assist with.

If you are a Long Island resident and in need of foreclosure defense, visit or call the Law Offices of Ronald D. Weiss, P.C. for a free initial consultation.

Did you know that if you miss just one mortgage payment, you could be in danger of having your home foreclosed upon? Too true, unfortunately. Whether you live in Brooklyn, Manhattan, Staten Island, or Long Island, foreclosure could be but one missed payment away.

If you do miss a payment, you can rest assured that your mortgage company will send you a notice that you've done so and that you must pay immediately. If you don't make a payment for two or three months, not much else will happen and if you pay up all the late payments, you should be safe (although the missed payments will go on your credit record, thus lowering your credit score).

But if you don't pay up in 60 days, you can expect to receive what is known as a "notice to accelerate" (which basically is your last chance to pay up and skip the Long Island foreclosure process). You'll also have to pay some late fees.

The process becomes more complicated after this and you should start contacting a Long Island foreclosure attorney to guide you.

If you don't pay up by the date the mortgage company specifies in the notice letter, the company will have an attorney send you what is known as a "demand letter," which is the bank's formal notice to you that unless you become current in your mortgage immediately, the foreclosure process will begin.

The next step in the process will have your mortgage lender file a formal foreclosure notice with the courts, called a "notice of default." You'll have about just a few weeks — no more than a month — to respond.

You'll next receive a "notice of sale," which sets the date for the sale of your home by the sheriff.

So long as you don't get to the point where you receive the notice of sale, you can stop a foreclosure. Understand that the bank really doesn't want to foreclosure on your home — if it does then it has an empty house on its hands and it's lost money in the deal. You'll probably need the help of a good Long Island foreclosure attorney to do help you stop the process, but so long as you haven't received the sale notice, it may be possible to save your home from foreclosure.

With legal advice and representation from our lawyers, saving your home from Nassau foreclosure is possible. Even if your foreclosure goals are to eliminate the mortgage obligation and surrender your property, our attorneys experienced with Nassau foreclosure can protect your interests and help you understand the best options for your unique foreclosure situation.

All sorts of foreclosure situations exist, which is why people should understand foreclosure attorneys are important players on your side at any stage of the foreclosure process. We can help you when:

• • Foreclosure sale is already scheduled – even under emergency situations, we offer immediate legal counsel.
• • Foreclosure litigation has started but no sale date – as your Nassau foreclosure litigation begins, you’ll benefit from reviewing legal deadlines, documents and alternatives with an attorney.
• • Arrears just started – if your mortgage payments are late and you foresee continue problems with paying, you should do whatever you can to avoid a foreclosure action from starting. We can help you to present the bank with a reasonable offer to avoid foreclosure.

As our lawyers who assist with foreclosures in Nassau can attest, Nassau foreclosures aren’t going to end anytime soon. A recent Congressional report reaches the same conclusion, finding only about 750,000 households will be helped by the Treasury Department’s Home Affordable Modification Program rather than the three to four million projected. If you’re among the majority of financially troubled households and face a Nassau foreclosure, ease your burden by contacting an attorney experienced with Nassau foreclosures.

First, it’s important to remember you’re not alone—many Nassau County homeowners have found themselves in arrears on their mortgages and threatened by foreclosure. That’s why our attorneys represent clients in every type of Nassau foreclosure solution, and we encourage you to contact a lawyer from our office for a free consultation. You’ll learn foreclosure solutions are varied and involve many factors that our attorneys can help you navigate, including:

• • Negotiations (mortgage modifications, forbearance agreements and short sales)
• • Bankruptcy (chapters 13, 7 or 11)
• • Litigation (answering the Summons & Complaint and Emergency Orders to Show Cause)

• - Financial hardship – Serious financial circumstances leave you unable to afford your mortgage.
• - Monthly income shortfall –You cannot afford or soon will not be able to afford your mortgage.
• - Insolvency – You do not have the liquid assets that would allow you to pay down your mortgage.

Over the last generation, private employer-sponsored retirement plans have replaced traditional pension benefits programs. This was fine while the going was good and the economy prospering.  The biggest advantage of the plans was that they were so easy – the contribution was deducted from the salary, so not only did people not miss the deduction, they had to do nothing themselves. The problem is that with things so automatic, people did not ever think about what was going on with the money they placed in these plans. Everyone presumed that it would magically appear upon retirement to take care of their post-career days.

Unfortunately, this is the real world and there is no room for magic. The banking and stock market collapse of the last few months has caused huge erosion in the values of 401(K) plans and other retirement funds. People, even in up market areas like New York’s Nassau and Suffolk counties are suddenly finding themselves bereft of any form of financial security for their post employment life. While younger workers are actively looking at other savings and investment options, those closer to retirement have little time to find a viable alternative that will allow for adequate resources to accumulate by the time they retire.

As a result bankruptcy and foreclosure have become major concerns. These are frightening terms for most people. Rather than bury our heads in the sand, it is better to face up to the facts and find solutions and remedies to the ills that the loss of savings has caused. And the best way to do this is to contact a local bankruptcy lawyer. It is never too early to start protecting yourself from the consequences of the losses you have suffered through no fault of your own. Bankruptcy is not the end. It is merely a stage in our financial life and a good bankruptcy lawyer will be able to help you get over the hurdle with the minimum of difficulty and assist you in finding ways to repair the financial damage inflicted on you.

If loss of your savings or other impacts of the ongoing recession have caused you problems with your mortgage payments, contacting an experience foreclosure lawyer in your area is something you should not delay. Foreclosure is a complex issue and with the government implementing innovative programs to help people who are having mortgage problems. Seeking help from an expert may be able to help you to stop home foreclosure.

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Times are tight- there’s no doubt about that. Just look at the growing number of vacant and boarded up homes in Long Island to verify that. Foreclosures are on the rise in New York, and most consumers are not educated enough in these matters to effectively facilitate their own rescue, or quietly and appropriately allow to happen what in many cases is inevitable- without doing unnecessary damage to their credit, legal standing, and emotional well-being. For these reasons, it is absolutely crucial to consult with qualified and experienced New York foreclosure attorneys. Many people, however, do not take this vital step, as they do not truly understand what foreclosure attorneys can do for them. Let’s examine this:

First of all, a foreclosure attorney brings piece of mind. Knowing that your situation is in competent hands can be a big relief. Your finances and all related agreements will be reviewed, and the attorney will discuss your situation in general. If you have already received a summons or complaint, the lawyer will respond to that while keeping you within very tight legal guidelines. If you are unemployed or underemployed, the attorney will argue under a statute that allows extra time to file your response to the complaint, and may also allow a legal delay in the foreclosure proceedings, up to six months. Responses to the complaint will include any defenses developed by you and your legal counsel.

Believe it or not, part of a foreclosure attorney’s job is to review ways to actually prevent the foreclosure. They will discuss possible methods used to gain foreclosure prevention assistance with you, such as those offered by State and local governments and social organizations. In addition, they will explore your standing under the Federal program known as Hope Now, and will be able to explain what this program is in terms that you can understand.

If a foreclosure is unavoidable, a foreclosure attorney will advise you whether to ask for a “Strict” foreclosure, or a “Foreclosure by Sale.” Each type is very different, and needs expert understanding in order to determine the best choice for any particular situation. To prevent either type of foreclosure, an experienced attorney may assist you in obtaining a “Deed in Lieu of Foreclosure.” In most cases, a deed in lieu of foreclosure allows you to return the property title to the bank without forcing them to incur court and litigation costs, and in return, the bank or lender agrees to not seek judgment against you for any amounts owed that the return of the deed does not cover. These are all highly complicated issues, and therefore reinforce all the more why a professional foreclosure attorney is needed.

Facing foreclosure can be a terrifyingly confusing time. You are filled with doubts, not the least of which is where you and your family will live, and how you can possibly make it after the process is complete. This is a normal reaction, but not a particularly helpful one. If you are facing foreclosure, the most important thing to do is to step back, take a deep breath, and not panic. Even after the foreclosure process starts you still have multiple options open to you- you can probably still save your house. This, however, will be impossible if you do not know exactly where you stand and what courses of action are still open to you. Making a poor decision based on fear or ignorance can be fatal to your cause, so here are a few basic things to remember if you are in this unfortunate (but not intractable) situation.

The most important thing that you can due to improve your chances is to know exactly what your options are, and what the laws in your state regarding foreclosure allow. There cannot be enough emphasis placed on the importance of hiring an attorney with foreclosure experience in your area to both educate you, as well as advocate for you. Since the laws regarding foreclosure differ from state to state (you have different options in Suffolk County Long Island than you do in Broward County in Florida) it is imperative that your counsel is local. Once you speak with your foreclosure lawyer you will have a real, accurate picture of your situation and hopefully some much needed peace of mind.

Another way to improve your situation is to under no circumstances stop making mortgage payments. You are being foreclosed on because you are behind on your payments and the bank has felt the need to take extraordinary action. It is not the end of the process. Chances are that if you keep yourself in a position to have negotiating power with your creditor, the overall outcome of the process will be much more palatable.

You should also never fail to communicate with your creditor. Unless they are a loan shark, they will not yell at you or threaten you unduly. One of the biggest mistakes that people make is to avoid communication to avoid further pain, or to avoid making the situation worse. The quickest way to deteriorate your standing in the foreclosure process is to try to disappear.

Almost equally important as hiring a qualified foreclosure attorney is to not lose hope. There is almost always another option or opportunity to mitigate your losses and begin improving your life. It is also important to remember that the bank does not want your house- they want to recoup the money that they lent to you. Having to deal with taking your house is something that they will take pains to avoid- it makes the process of recovering the money they are owed much more complicated and uncomfortable. Keeping this fact in mind will help you retain hope and continue to look for solutions.

The foreclosure process can be fraught with peril if you approach it the wrong way. Not only is it scary and confounding, but there are also unscrupulous people and scam artists that will try to take advantage of your uncertainty. If, however, you retain competent and knowledgeable counsel, understand your options, and keep your chin up, you can still help yourself attain a positive outcome.

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 It will not surprise many people that the dismal economic forecast is causing many businesses and individuals to make cutbacks. Middle class Americans are struggling to make ends meet, and the resulting decrease in spending passes their hardship on to retailers, corporations, and other former recipients of discretionary spending. What may be surprising, however, is how widely the ramifications of this pattern may spread. Even professional athletes, who have long been at or near the top of the economic hierarchy, are beginning to feel the pinch.

While the plight of a millionaire may not engender sympathy from those folks packing the waiting rooms of foreclosure attorneys in Suffolk County, it is still worthwhile to examine the emerging trouble of these athletes. Late last week General Motors announced that they were no longer going to be sponsoring Tiger Woods, and while this is not a devastating blow to someone pulling in over 100 million dollars a year in endorsements, it does indicate the state of despair at General Motors. It also likely presages a major modification of professional sports.

Sports agents are having an increasingly difficult time finding endorsement opportunities for their athletes, and likewise team owners are becoming unable to fill ad space at their arenas and stadiums. As consumers struggle, they not only stop purchasing licensed team gear and apparel at high rates, but they also stop pumping as much capital into the companies that advertise with their favorite teams. As the revenue stream dries up, cutbacks must be made at every level along the line.

Team owners who for years counted on a steady influx of advertising dollars may now see their profit margin begin to shrink. As this lack of profitability spreads, we will be far less likely to see players make 10 million dollars a year to sit on the bench. Additionally, as the promise of advertising dollars that caused major battles between networks over broadcast rights for certain sports disappears, it is almost inevitable that the expensive NFL or NBA television contracts will become far less attractive. This will in turn lower the level of exposure that teams and athletes have, which will further diminish their economic viability. Companies are not going to pump advertising dollars into a stadium that will never be on a national broadcast or cable channel, nor into a player who is virtually unknown outside of his local area. The result of this will hopefully be an outreach effort by teams to increase local attendance and enthusiasm. The practices of stations blacking out broadcasts of local teams and owners charging five hundred dollars for football tickets may become a thing of the past. Outrageous salaries will also likely become a historical footnote, which in turn will likely make athletes more accessible to their fans. The fundamental changes that appear to be coming to middle class American workers are going to drastically reshape the economic landscape for years to come. Things that we take for granted may disappear, and things we never thought possible may become normal parts of life. As more people become unemployed, and as less money is available for everyone, even the richest athletes will face drastic changes in their respective worlds. As all unsustainable patterns do, the professional sports financial bubble seems to have burst. –

Okay, we all know we do it: as Americans, we get pretty set in our ways.  We are accustomed to our particular ways of life, and we notice and raise heck immediately when a change is made.  While at first this might seem like a detrimental factor, it is probably something that keeps our country mostly honest and successful.  We all want the good life, and we’ll work very hard to achieve it; whatever that means for each of us as individuals. With that said, it is surprising that more Americans are not aware of the sneaky little marketing and packaging ploys that are being enacted all across the country.  Since our economy began its slide down this long economic hill, some practices have been established that are shady to say the least.  With all this talk about bear markets and bull markets, elephant parties and donkey parties, we’re missing what the wolves are doing. 

Let’s start with the cost and packaging of food as one example.  The wolves know that Americans notice if the cost of groceries increases even nominally.  We depend upon steady prices in order to maintain our budgets.  So when the cost of transportation and other services went up, grocers knew they had to pass on the increases to consumers.  But they had to do it without anyone noticing, and they knew precisely how to do it.  You know the 24oz box of cereal you buy for around $4?  Well, the packaging looks the same, and the price is the same, however, guess what?  It’s now only 20oz.  There’s no notice of this, of course.  Just a subtle change that causes you to wonder why it seems like the box is empty sooner.  But hey, you’re paying the same amount, so for the most part, you don’t notice.  The problem with this complacency is that the grocers have done this just about all groceries.  The normal content of just about everything has been reduced, while the price stays the same.  So as a whole, you’re taking a pretty big hit when you go to the supermarket, considering that you’ll be there again sooner than expected. 

This is not only occurring in the supermarket.  In the car sales industry, there are similar tactics at work.  Take for example traditional deals like $2000 cash back on the purchase of a new vehicle.  This has been a standard incentive at most car dealerships for quite literally decades.  But suddenly, the deal has changed.  That cash back award has been changed to a $1500 gas card.  The wolves figure that because gas is such a prominent topic today they can appeal to our desire to obtain the most “bang for our buck.”  They count on the fact that we won’t consider that we’re getting $500 less; that if we could still get the previous deal, we could buy $2000 worth of gas.  In this, the wolves are right, because very few people are really noticing.  In fact, gas cards are quite popular incentives with many major and minor purchases now.  So, before you lay your cash down or swipe your card, take a look at the content of what you are purchasing, and look for changes.  It might not make you happy, but at least you will be aware of what’s happening, and be able to account for that in your budget.  This simple step of awareness can be quite beneficial.  Especially for people in high cost of living places like New York, it could go a long way to preventing financial trouble such as a bankruptcy and foreclosure.

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