HowardReal Estate and Bankruptcy Law
March 2nd 2008 13:14
Real Crash- Looking at Capitalism and its Laws:
Bankruptcy
Many people were sucked into the real estate bubble over the last five years. They took out sub-prime and Adjustable Rate Mortgages, with the assumption that if anything went wrong, they could see their houses for a higher price. The interest rate, after a short teaser period, became very high, with high monthly payments. Now the bubble has burst, and many can't sell at their purchase price. Many middle class households have been forced to seek legal representation to find out if they can save their house and real estate. People are again looking at the option of going into bankruptcy and in NY, getting a New York bankruptcy lawyer. You can get more information on this, so my friends say, at the website FeinLawyer.com and from the lawyer, Richard S. Feinsilver, ESQ.
These are complicated legal questions and I can't say whether or not a bankruptcy lawyer can save the home of a family going into bankruptcy. First we had the new, tougher bankruptcy law of 2005. This was mostly aimed at people who had more wealth, but didn't want to pay their credit card bills. Now, there are proposals to amend the law to protect a home from foreclosure. Has that happened yet? I doubt it.
Anyway, Richard S. Feinsilver, ESQ has offices in Brooklyn, and Queens in New York City and in Nassau and Suffolk Counties, all on Long Island in New York State. The same law firm does a lot of straight real estate work, as lawyers.
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