Technically, a mortgage is a method of using property as security for the performance of an obligation, usually the payment of a debt. Non-technically, if you want to buy a house, and you can't afford the full price, you can borrow the money from a lender, usually with interest. This is the most common method of financing real estate transactions.
Normally, a mortgage is paid in installments that include both interest and a payment on the principle amount that was borrowed. Failure to make payments results in the foreclosure of the mortgage. This is where mortgage law comes in. The foreclosure process depends on state law and the terms of the mortgage.
Mortgage law is complex, and under certain conditions, either a large and complicated real estate deal or the unfortunate circumstance of foreclosure, you need to work with a lawyer or law firm well versed in mortgage law. Rubin & Licatesi, P.C. is a law firm with practice concentration in various areas including real estate and mortgage banking. Richard H. Rubin, with over 25 years of experience, serves as counsel to lenders, brokers and clients involved in modification and workouts, financing, and the closing of real estate parcels and buildings.
At the law offices of Rubin & Licatesi, P.C., we provide the highest caliber of legal representation in numerous areas of law. We employ extraordinarily dedicated attorneys who possess the highest academic credentials and strictest professional ethics. Our firm has built its reputation on trust, integrity and have been successfully delivering the desired results to you, our client.
To get in touch with us by phone, call us at (516) 204-7715 in Garden City, NY or contact us online. In order to better serve our clients, an attorney from our office is available 24 hours a day, 7 days a week.
