Foreclosure Notice Requirement
The National Mortgage Settlement‘s Pre-Foreclosure Notice Requirement for servicers
Servicers must now provide the homeowner with a pre-foreclosure notice at least fourteen (14) days before referring the case to a foreclosure attorney.
*The notice must:
- Set forth facts supporting the Servicer’s or holder’s right to foreclose.
- Include an itemized summary setting forth account information (i.e. reinstatement amount/arrears, date of the last full payment, description of any late fees).
- Include a statement that upon written request the borrower may receive certain information (i.e. payment history, copy of the note, copies of any assignment of the mortgage, the name of the investor that holds the loan).
- Include a statement outlining the loss mitigation efforts the service has undertaken before foreclosure.
- State why the borrower was denied a loan modification or other loss mitigation.
- Include contact information to obtain more information from servicer.
- Include contact information for counseling agencies.
We have seen several of this notices and believe that they provide useful information to homeowners and their attorneys.
Long Island Foreclosure Defense Attorneys
Call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620 today.
*The above is a partial list.
The following questions about the landlords rights are often asked by both tenants and landlords:
Can a landlord change the locks to a tenant’s apartment? No, not unless they provide the tenant with a key to the new locks(s), the tenant has abandoned the apartment (proceed with caution, abandonment can be difficult to determine), or the landlord has lawfully evicted the tenant.
Can a landlord turn off the heat to a tenant’s apartment during the “heating season?” No, a landlord can not deliberately fail to provide heat to a tenant’s apartment during the heating season.
Can a landlord turn off the water to a tenant’s apartment?” No, a landlord can not deliberately fail to provide water to a tenant’s apartment.
Can a landlord throw a tenant and his/her belongings out on the street? No, not without a court order. And the Marshal or Sheriff would remove the tenant and his/her belongings (the landlord MAY have to pay for the moving and storage of the tenant’s belongings). Note: Police should be called in squatter and trespasser situations.
Can a landlord sue a tenant for unpaid rent? Yes, unless the tenant has filed bankruptcy or the landlord waived the rent arrears.
Can a landlord recover legal fees from tenant? Yes, if there is a clause in your lease which allows the prevailing party to recover attorneys fees.
Can a landlord sue a tenant for moving and storage fees? Yes, unless the tenant has filed bankruptcy.
The above sample answers are not “written in stone” and are not intended as legal advice. Every legal matter is unique and requires a thorough analysis before legal advice can be given.
New York Landlord Tenant Attorney
If you have questions about a landlord tenant issue, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620.
Bank won’t modify my mortgage, how can I use the chapter 7 bankruptcy I just filed to avoid foreclosure?
The following are “some” of the things you can do to avoid foreclosure if you just filed a chapter 7 bankruptcy:
“Maybe” filing a “chapter 20” bankruptcy, which is a chapter 7 followed by a chapter 13, will help you.
- make sure the ch. 7 discharge is granted;
- some time after discharge is granted in the 7, but before the sale date of course, file a ch. 13 to force the lender to accept the current payment + the arrears spread over 36 or 60 months.
- Note: There likely won’t be a discharge at the end of the Chapter 13. This really shouldn’t matter because you just received a chapter 7 discharge.
- Note: You should consider “stripping off” any judgment and/or wholly unsecured liens.
- Note: If this is investment property you can try to cram it down in a ch.13. However, the cramdown value has to be paid off by completion of the ch. 13 plan.
If none of the above will work, you could:
- After discharge, continue trying to obtain a loan modification from your lender (the foreclosure action will likely continue unopposed).
- Contest the foreclosure action in state court after the stay is lifted or terminates.
- Note: You may be able to defend the foreclosure even if a default judgment has been entered against you(see our earlier post “Fighting foreclosure after default judgment.”)
This is not legal advice!
The Law Firm of Vaughn & Weber, PLLC routinely represents homeowners facing foreclosure who have already filed or need to file for bankruptcy. We examine each homeowner’s specific situation to determine their best course of action.
We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy and foreclosure matters.
Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy and foreclosure attorney!