The foreclosure proceeding in New York may or may not have already been started, but if it hasn't, then you are well aware it is imminent. The foreclosure has likely started due to the nonpayment of the mortgage, and that means you may be experiencing financial hardship, but you may also want to fight the foreclosure. Is a foreclosure attorney really necessary in New York City or elsewhere in New York? There are many self-help and informative websites, so can't you represent yourself competently enough?

That question is really one only you can answer, but to make an informed decision, here are important reasons why an experienced foreclosure attorney (as opposed to a lawyer with limited knowledge and experience) will benefit you during foreclosure and quite possibly help you stop the foreclosure sale.

Reason No. 1: Experience Matters

Knowing the law through a self-help website or even via a law degree is good and all, but it isn't enough if you want to be effective. Knowledge is power only when you know how to use it. Experience teaches you how to use it; experience nurtures insight.

As it is, a foreclosure in New York can involve serious legal issues that could result in the taking of your home unless you are able to fight it. Fighting it requires the necessary insight on how to do it.

• This means being able to use arguments persuasively and effectively.
• This means knowing the courts and the judges and what they want to see and hear from you.
• This means being thorough, timely, and knowing when to do what or when to say what and why.

There's more to fighting a foreclosure than knowing the law. The law is there to outline your rights and responsibilities. But how you use that knowledge is another thing entirely, and experience is the best teacher.

Reason No. 2: Alternative Solutions are Available

There are alternatives to foreclosure. An experienced New York real estate attorney can help you identify alternatives right for you and your specific situation. For example, you may be eligible for a loan modification or you could conduct a short sale.

Loan Modification

In sync with reason no. 1, an experienced real estate attorney will have excellent negotiating skills. An attorney can help you negotiate new terms with your mortgage lender. This is important because getting a loan modification is good only in so much as it benefits you and allows you to pay your mortgage. If you accept the terms a mortgage lender offers without making sure it is do-able and in your favor, then you could be back in the same situation you are in now: not being able to pay the mortgage.

Short Sale

You may not be financially able to pay the mortgage no matter how the terms are changed. If so and when you still want to avoid foreclosure, you may be able to get a short sale. This prevents the embarrassment associated with foreclosures. But the paperwork is extensive and you will still need skilled negotiations to make sure the mortgage lender will accept the short sale application.

Reason No. 3: Foreclosure Proceedings are Overwhelming

If your ultimate goal is to stop the foreclosure, then you need someone who is not emotionally involved. The property may be a family home that you are attached to. You may fear the embarrassment of losing your home. Whatever it is, the process itself is very demanding both mentally and emotionally. You may easily get in over your head, and that will interfere with a successful stop to the foreclosure sale.

An experienced foreclosure attorney in New York will be emotionally unattached and will be able to focus on your case and not on the consequences of failure to stop the foreclosure.

The Key Takeaway

Whether you want to stop a foreclosure or find an alternative, you need an experienced real estate/foreclosure attorney in New York. Contact Melvin Monachan, a trusted real estate attorney located in Lake Success, New York, to learn how he will be able to help you.