Free Foreclosure, Loan Modification and Bankruptcy Assistance
The following article appeared in Today’s New York Newsday:
Nassau County homeowners at risk of losing their homes can get free housing and legal advice on Monday, Oct. 1.
The Nassau County Bar Association will hold its monthly foreclosure clinic from 3 to 6 p.m. at its headquarters at 15th and West streets in Mineola. Volunteer attorneys will offer one-on-one guidance about foreclosure, loan modification and bankruptcy. Federally certified housing counselors will also be available.
Residents who meet income guidelines can meet with Nassau-Suffolk Law Services, which provides reduced-fee legal services.
Attorneys who speak Spanish will be on site, and those fluent in other languages can be made available upon request.
Those attending should bring their mortgage documents to the clinic. Reservations are required, and can be made by calling 516-747-4070.
The Law Firm of Vaughn, Weber & Prakope, PLLC assists residents of Nassau county, Suffolk county, Queens, Brooklyn, Bronx, Staten Island, and Manhattan with their bankruptcy filing, loan modification, and foreclosure defense. Call (516) 858-2620 for a FREE consultation!
New York Shadow Inventory
The Wall Street Journal had a very interesting article written by Nick Timiraos (a link to the article is provided below) regarding shadow inventory. The article talks about interesting topics such as the decrease in the new homes being built and its effect on investor interest in REO (bank owned properties) properties. Freddie Mac analysts are citing the reduction in new home building as a reason why the once assumed over saturated “shadow inventory” is not smothering and hampering the housing recovery.
Foreclosure Defense Attorneys
If you are considering a foreclosed property as an investment and have questions, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620 to speak to an attorney.
The Obama Administration, The U.S. Department of The Treasury, and the U.S. Department of Housing & Urban Development recently announced important enhancements to the Home Affordable Modification Program (HAMP). The program is being expanded and made available to:
• Homeowners who do not meet the 31 percent debt-to-income (DTI) requirement for a traditional HAMP modification;
• Homeowners who currently have tenants and those who do not currently occupy their home, but intend to rent the property;
• Homeowners who didn’t successfully complete a HAMP trial period or;
• Homeowners who fell out of a permanent HAMP modification due to missed payments.
This is great News! This should help many struggling homeowners. However, it appears, the expanded HAMP changes will not be available until May 2012. Therefore, homeowners facing imminent foreclosure should seek legal counsel immediately if they are interested in a loan modification under the expanded Home Affordable Modification Program (HAMP). You may be able to take steps to stop the foreclosure long enough for you to apply for a loan modification and save your home!
If you are currently in foreclosure or in danger of falling into foreclosure, and you have any questions, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 to speak with a Foreclosure Defense Attorney!
This, and additional information can be found at www.makinghomeaffordable.gov.
Foreclosure Defense and Loan Modifications
Recently we have experienced an increase in the number of our clients receiving loan modifications. These modifications are both HAMP and In-House, temporary and permanent. The cause is unknown but for our clients, it doesn’t matter why. They are just grateful that it is happening. As the foreclosure world is still in shock with the announcement of the impending closing of Steven J. Baum, P.C., the increase in loan modifications is a good sign for distressed homeowners. There was never as good a time to defend against foreclosure litigation. Hopefully the new year will bring more of the same. These modifications are not good for everybody however. Each modification should be reviewed with an attorney to decide if the terms of the modification are right for your situation. If you are currently in foreclosure or in danger of falling into foreclosure, and you have any questions, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 to speak with a Foreclosure Attorney!