Repeat Foreclosure Rates at an All-time High in NYC
While evaluating 700,000 loans that had a balance of $135 billion at the time of modification, Fitch discovered skyrocketing re-defaults on loans modified after 2014, while the combined delinquency rate of mortgage loans modified in 2015 is the peak of all modification vintage from 2010.
Foreclosures have become an all too common part of life for New York homeowners. Just in March of this year, bank owned foreclosures have skyrocketed 108%! On top of it all, foreclosure proceedings are brimming with regulations and are always getting new ones that change from jurisdiction to jurisdiction. It is perhaps more important now than ever to have a New York foreclosure attorney that is experienced and trustworthy.
Our foreclosure attorneys have years of experience navigating the maze of regulations. We represent mortgage servers, lenders, and other entities in the foreclosure of commercial and consumer loans. Contact Taroff & Taitz, LLP our attorneys are ready to give you the legal support you need.