Distressed Property & Foreclosure

SERVICES

Distressed property situations arise when owners or investors face financial hardship, declining property values, or the threat of foreclosure. These cases require swift and strategic action to protect ownership interests, preserve equity, and resolve outstanding debts. Foreclosure workouts (loan modifications, forbearance agreements, short sales, deed-in-lieu arrangements) can often provide alternatives to foreclosure while minimizing long-term financial and legal exposure.

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    LOAN MODIFICATIONS & WORKOUT AGREEMENTS
    Loan modifications and workouts allow property owners to renegotiate loan terms with lenders to avoid foreclosure. These agreements often involve adjusting interest rates, extending repayment periods, or restructuring principal balances.

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    FORECLOSURE DEFENSE & LITIGATION
    When foreclosure proceedings begin, prompt legal action can make the difference between resolution and loss of the property. Borrowers have specific rights under New York foreclosure law, and lenders must comply with strict procedural requirements.

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    SHORT SALES & DEED-IN-LIEU TRANSACTIONS
    A short sale allows a property to be sold for less than the outstanding loan balance with the lender’s consent. A deed-in-lieu of foreclosure transfers ownership back to the lender to satisfy the debt. Both options can help avoid foreclosure, preserve credit, and minimize financial exposure—but they require careful negotiation to ensure that all debt obligations are fully released.

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    DISTRESSED PROPERTY ACQUISITIONS & INVESTMENT
    Investors often purchase distressed or foreclosed properties for redevelopment or income opportunities. These transactions carry unique risks related to title defects, liens, and occupancy rights.

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    RECEIVERSHIPS & COURT-APPOINTED PROPERTY MANAGEMENT
    In some foreclosure or partnership disputes, courts appoint a receiver to manage or preserve income-producing property during litigation.