Long Island Short Sales

On Feb.18th the Obama Administration announced the Making Home Affordable (MHA) Program, a comprehensive plan to stabilize the US housing market and offer assistance to up to 7 to 9 million homeowners by reducing mortgage payments to affordable levels and preventing avoidable foreclosures. As pr...

As you may know, on February 18, 2009 the Obama Administration announced the Making Home Affordable (MHA) Program, a comprehensive plan to stabilize the US housing market and offer assistance to up to 7 to 9 million homeowners by reducing mortgage payments to affordable levels and preventing avoi...

We are all asking the same question: What is going on with the new Helping Families Save Their Homes In Bankruptcy Act of 2009? Our website www.pjgoodmanesq.net now offers a link to real time updates as to the status of this bill. It can be viewed by clicking here. This way everyone will be privy...

If you are considering selling your Long Island home as a short sale, there is certain information you will need to have. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the d...

While in office, President Bush signed the Economic Recovery Act of 2008 which provides a $7,500 Homebuyer Tax Credit that will be available for qualified purchases between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan). The IR...

Why is now the time to buy a short sale on Long Island? From all the research I have done, you should see two trends happening in the housing market for 2009: prices falling by at least another 10 percent due to discounted sales, such as foreclosures, and sales are going to increase dramatically....

Short sales on Long Island are on the rise and may be the only option for some homeowners. We know Long Island homeowners are desperately trying to save their properties from foreclosure. Short sales are one of the alternatives available to homeowners in distress. As a real estate attorney on Lon...