Common Reasons
Why Long Island Homeowners Fall Behind
It is rarely only the mortgage. On Long Island the arrears tend to arrive together, and each one is a claim on the same equity.
Nassau and Suffolk property tax bills are large enough on their own that a household can fall behind on them while the mortgage is still current.
The arrears also compound. Late fees, default interest and the lender’s legal costs all attach to the same payoff figure.
- Mortgage arrears, late fees and a default notice from the servicer
- Property taxes, which run higher here than almost anywhere in the country
- Water, sewer or village charges that attach to the property
- HOA or co-op arrears with their own collection process
- A judgment or lien filed against the house
- A job loss or a business that slowed down
- Medical bills after an illness or an injury
- A divorce that split one household income into two
New York is a judicial foreclosure state, so the process runs slower here than in much of the country. That slowness fools people into waiting, while the arrears and legal fees keep growing against whatever equity is left.
Three Steps
How Selling for Cash Works When You Are in Arrears
We have done this many times and the process does not change much.
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01
Call us early
Reach (631) 201-1727 or fill out the form. Tell us roughly where things stand, including anything you have received from the lender.
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02
Get your offer
We make a fair cash offer on the house as it is. There is no inspection to pass and no financing that can fall through at the last minute.
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03
We handle the payoffs
We work with your servicer and the title company on the mortgage, the arrears, tax liens and any judgments that surface. If there is money left after everything is paid, it goes to you at closing.
There are no commissions and no closing costs on your side, which matters when every dollar of equity counts.
Protect Your Equity
Why Long Island Homeowners in Arrears Choose a Fast Cash Sale
Being behind does not mean the house is already lost. Long Island values have held up, and a lot of homeowners still have real equity even after the arrears come out.
Speed Where It Matters
A cash sale can close on a timeline that still works when there is a court date on the calendar.
No Repairs
Households under financial pressure defer maintenance, and that is exactly what a buyer’s lender would object to.
We Deal With the Liens
Tax liens, judgments and water charges get sorted through title rather than becoming your problem to clear first.
You Keep the Equity
Whatever remains after the payoffs is yours. A completed foreclosure generally leaves you nothing.
Less Credit Damage
A sale does considerably less harm to your credit than a foreclosure judgment does.
No Fees
No commissions and no closing costs taken out of the proceeds.
Discreet
No sign on the lawn, no open houses and no neighbors walking through.
Straight Answers
If a loan modification or a traditional sale would serve you better, we will say so.
None of this is a pitch to sell. It is a description of what a sale can do that a foreclosure cannot, which is leave you with something.
If the problem is temporary and the house is affordable at your income, work with your servicer first.
When it is not, selling the house fast for cash on Long Island is usually what protects the most of what you have left.
Side by Side
Cash Offer vs. Letting It Go to Foreclosure
These are not the same outcome, and the difference is usually the equity you have built over years of payments.
| Comparison | Our Cash Offer | Traditional Listing |
|---|---|---|
| Agent commissions | $0 | About 6% of sale price |
| Closing costs | $0 (we pay) | 2% to 3% of sale price |
| Repairs before sale | $0 | $5,000 to $20,000+ |
| Time to close | Weeks | 60 to 90+ days |
| Arrears and liens handled at closing | Yes | Yes, if the sale closes |
| Sale guaranteed | Yes | No |
A house can generally still be sold while a foreclosure action is pending, up to a point in the process. Where that point is depends on your case, which is why this is worth a call sooner rather than later.
Service Area
We Buy Homes in Arrears Across Nassau and Suffolk
High property taxes are one of the main reasons Long Island households get underwater on carrying costs. We buy throughout both counties.
- Elmont
- Valley Stream
- Baldwin
- Oceanside
- Island Park
- Long Beach
- Lynbrook
- Brentwood
- Central Islip
- Wyandanch
- Deer Park
- Copiague
- Amityville
- Lindenhurst
- West Babylon
- Mastic
- Mastic Beach
- Shirley
- Medford
- Coram
- Selden
- Middle Island
- Centereach
- Riverhead
- Calverton
- The East End
Wherever the house is, the sooner you call the more room there is to work with.
Towns carrying the heaviest tax burden relative to income tend to generate the most calls, but we buy everywhere in both counties.
Answers
Frequently Asked Questions
Can I still sell if foreclosure has already been filed?
In most cases yes, up to a point in the process. This is worth confirming quickly with a New York real estate attorney, because the window does eventually close.
I owe back property taxes. Does that stop a sale?
No. Delinquent taxes become a lien that gets paid through title at closing, and we deal with that regularly.
Will I walk away with anything?
Often yes. If the house is worth more than the total of the mortgage, arrears, liens and fees, the difference goes to you.
Is selling my only option?
No, and we will tell you that. A loan modification, a repayment plan or free HUD-approved housing counseling may be the better path if your income has recovered.
Does the house need to be in good shape?
No. We buy as-is, including homes where repairs were put off while money was tight.
How quickly do I need to decide?
There is no pressure from us. The pressure comes from the arrears and the court calendar, and both of those only move in one direction.
Is there any cost to talk to you?
No. The offer is free and there is no obligation to take it.
No Pressure
Sell Your Long Island House Fast for Cash Before the Window Closes
The reason to act early is simple. Early is when you still have choices.
A conversation costs you nothing, and it usually clarifies what your real options are. We can tell you quickly whether a fast cash sale solves the problem in front of you.
- No repairs or cleaning required
- No commissions or closing costs
- We work directly with your servicer and title
- Any remaining equity goes to you at closing
- No obligation, and the offer is free
Call (631) 201-1727 or fill out the short form for a free, no-pressure conversation.