A home is frequently the biggest asset that an individual family has, but getting underwater on the mortgage can lead to many problems. When that home enters the foreclosure process, it is common to feel as if the rug is being pulled out from under your feet.

A foreclosure process that drags out for many months or years can sap your savings, require you to move in with relatives, and leave neighborhoods blighted by empty homes. It can also take quite a toll on your mental energy, especially if the lending party in your case is not willing to work with you at all. In some situations, you might not be able to get out of the foreclosure even when you have exercised your best efforts to do so.

According to the New York State Department of Financial Services, some areas of the state have an average of 430 days between the conclusion of a failed foreclosure settlement conference and the actual entry of judgment for the sale of the home. This delayed processing only serves to make a challenging situation more difficult.

If your home has entered the foreclosure process then, it is time for you to investigate your options. Feeling overwhelmed by debt can make it seem as though you have lost control. You do have opportunities to get your life back on track with bankruptcy. Hiring a bankruptcy attorney in New York gives you the chance to understand your options and to move forward with a fresh start financially if this is the right fit for you. Unfortunately, the lagging foreclosure process can make you feel guilty or ashamed about this situation, removing the perception that you do have control over what your future looks like. Get advice from an experienced bankruptcy attorney so that you are informed and prepared for what to expect. Jayson Lutzky, a personal bankruptcy lawyer with over 32 years of experience, offers free in-person consultations. Call 718-514-6619 to set up an appointment to discuss your financial options. Visit www.MyNewYorkCityLawyer.com to learn more about Mr. Lutzky.