Repurchase your foreclosed home

On January 10, 2015, in Foreclosure, Real Estate, by Robbie L. Vaughn, Esq.

Repurchase your foreclosed home at today’s value!

Previously, foreclosed homeowners who wanted to repurchase their home were required to pay the entire amount owed on the mortgage.  This requirement also applied to anyone buying the home for the benefit of the previous homeowner.

However, the Federal Housing Finance Agency (FHFA) recently directed Fannie Mae and Freddie Mac to allow former homeowners, or a third-party acting on their behalf, to repurchase their foreclosed home for the fair-market value.

That’s great news, but securing financing may still be an issue for recently foreclosed homeowners.  Under existing rules, former borrowers must wait a minimum of three years after a foreclosure to be eligible to receive a loan purchased or guaranteed by Fannie Mae or Freddie Mac. However, there is an exception to this rule when borrowers can document they lost their home to foreclosure or filed for bankruptcy because they were laid off or because their income was reduced by at least 20 percent. These foreclosed homeowners may now be able to get a mortgage to buy again after a one-year waiting period through  FHA’s “Back to Work” lending program.

Keep in mind that foreclosure defense, loan modification, and/or bankruptcy may be better options for you. As always, if you have a question involving the above issues, don’t hesitate to call The Law Firm of Vaughn & Weber, PLLC at (516) 858-2620, to speak with an attorney.

Read more about repurchasing your foreclosed home at today’s value HERE.

 

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An interesting decision came down in September of 2014 involving municipal liability claims.  In Granada v City of White Plains, 2014 NY Slip Op 06053, the Second Department ruled that a municipality is not immune from claims involving “proprietary functions” which are therefore differentiated from governmental functions.  The Plaintiff-decedent was attacked and killed in a parking garage owned by the city.  The Plaintiff rented the parking spot from the city on a monthly basis.  The city had the obligation of providing a minimum level of security in it’s proprietary function as  a commercial property owner.  The city’s function as a commercial property owner has nothing to do with its functions as a governmental body.  Therefore, the city was not entitled to summary judgment based on governmental immunity.

As always, if you have a question involving a possible injury or wrongful death claim, call The Law Firm of Vaughn & Weber, PLLC at (516) 858-2620 to speak with a litigation attorney today.

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Spoilation of Evidence

On December 29, 2014, in Corporate, Criminal, Litigation, Personal Injury, by John A. Weber IV, ESQ.

 

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In September of this year, the Second Department reached a decision in Lentini v. Weschler, 2014 NY Slip Op 06062, with regards to the “Spoilation of Evidence.”  Spoilation refers to the destruction or repair of critical evidence that will interfere with the ability of a litigant to prosecute or defend a claim.  Generally, a preservation notice is required to alert the party in possession of the evidence that the evidence may be necessary for potential litigation.  If the finds that spoilation occurred, the court can issue sanctions against the party who caused spoilation.  In Lentini, the court held that spoilation sanctions require a litigatn to prove that the other party disposed of the critical evidence and fatally compromised the other party’s ability to prove or defend a claim.  The disposal would have to have been intentional or negligent.  A preservation notice was sent in Lentini.  Therefore the court did not have to opine on whether or not the spoilation sanctions could be issued if the preservation notice was not given.

If you have been involved in an incident that caused damage to yourself or property, call The Law Firm of Vaughn & Weber, PLLC at (516) 858-2620 today to discuss the necessary steps to preserve evidence critical to your case.

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Civil Rights Case Eventually Leads to Justice

On October 24, 2014, in Criminal, Litigation, by John A. Weber IV, ESQ.

deskovic24n-2-web (photo from nydailynews.com)

 

New York Daily News writer Stephen Rex Brown (October 23, 2014 edition) told the story of Jeff Deskovic and the incredible award he obtained.  It was the largest verdict in U.S. history at $41.6 million.  Mr. Deskovic was convicted of rape in 1991.  In 2006, DNA led to the arrest and confession of the actual rapist and Deskovic’s name was cleared.  This case represents an extreme Civil Rights violation.  Most Abuse of Process, Malicious Prosecution, False Arrest or any other Civil Rights violation will rarely ever rise to this level of injustice.   That is why Mr. Deskovic was awarded such an extraordinary amount of money.

If you feel that your rights have been violated, even to a much lesser extent than Mr. Deskovic, you should seek the assistance of an attorney to discuss your options.  Call The Law Firm of Vaughn & Weber, PLLC at (516) 858-2620 to speak to a Civil Rights attorney!

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