Legal Question in Real Estate Law in New York

Is foreclosure a good option?

For an elderly couple (late 60's) who went through bankruptcy in 2004. They are moving into an apartment and need to get rid of house they have owned since 1998. The house needs some work. They have no funds to fix up house and will be moving to new apartment in 6 weeks. They do not expect to sell house for what they still owe on it. Would letting the bank forclose on it be a good option?


Asked on 12/11/06, 2:15 pm

1 Answer from Attorneys
Robert R. Groezinger GroezingerLaw P.C.

Re: Is foreclosure a good option?

This is complicated, or at least too complicated for a discussion here.

Feel free to have them or you contact me at the 845 number for a free phone consult.

Good Luck

RRG

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Answered on 12/11/06, 2:48 pm


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