From simple to complex foreclosures, Novins, York & Jacobus attorneys have the sophistication and experience to assist with all aspects of commercial foreclosures. Our lawyers have successfully represented banks and other lenders and borrowers in foreclosure litigation. We handle cases involving mezzanine loans, major commercial properties, and multiple liens. We have also assisted our lender clients in liquidating apartment, office and industrial complexes, development projects, and residential properties ranging from small condominium and cooperative units to more sizable estates.
A foreclosure is a process that terminates the rights of the homeowner, covered by a mortgage, and the estate then becomes the property of the lending institution. The numbers of foreclosures in America are growing daily. There are more than one hundred and twenty million homes in the United States and it is estimated that about 4% or about 4.8 million of them are facing foreclosure.
The process of foreclosure begins when a homeowner struggles to make their payments. This can be due to unemployment, medical challenges, death, divorce or even the terms of the loan. This then typically leads to the property being seized and sold.
To learn more about foreclosure and the options available to you don’t hesitate to call our office. Our team is here to help you through this process in any way we can.