Long Island Bankruptcy and Foreclosure Attorney

Will I have to lose my home or property?

Of major concern to many individuals and their families is related to the loss of the family home when they file for bankruptcy. In fact, in most cases they do not lose their home if they choose to keep it. You are allowed a certain amount of equity in your home in Chapter 7 bankruptcy, but many Long Island residents have purchased homes that have dropped in value and they may not have any equity. In today’s economy the home may be mortgaged for more than its current value, often referred to as being “under water”. However, if you choose to keep your home, you must continue to make payments on time.

Bankruptcy Attorney Serving Nassau and Suffolk Counties

When you retain the services of LoScalzo & Associates Attorneys at Law, the details regarding your property and what your personal wishes are regarding that property will be carefully evaluated and measured against the current bankruptcy laws and codes. Determining the best course of action for you is our goal, and in the vast majority of cases, either Chapter 7 or Chapter 13 bankruptcy will allow you to resolve serious debt matters as well as allow you to keep your home.

Contact the team at LoScalzo & Associates to carefully evaluate your personal financial condition. After this review, we can determine what course of action can allow you to resolve your serious debt matters and keep your home. Bankruptcy, either Chapter 7 or Chapter 13 brings all the debt matters under control and you are able to keep your home. Contact a Long Island Bankruptcy Attorney today, and avoid any further deterioration of your financial situation.