No-Fault Divorce and Maintenance

Our office has received numerous calls regarding the relationship between New York’s new No-Fault Divorce Maintenance.  The March 12, 2012, Sunday edition of Newsday had an article written by Carol Polsky, which covered this very topic.  Several prominent lawyers weighed in on the affects that this new statute has had in legal practice.  It seems that everybody agrees that the No-Fault ground for divorce seems to make life easier in cases where the estranged couple has very little in the way of assets and does not have children.  The statute seems to divide attorneys on the issue of maintenance however; especially temporary maintenance.  The new formula has resulted in trial court decisions that are all over the map.  Consistency does not appear to be coming any time soon either.  With an escalating number of challenges to this statute coming before the Appellate Courts as we speak, there is much anticipation as to the direction New York will head with regards to shifting the so called “earnered spouse.”

If you are facing a divorce and have questions regarding maintenance or any other issue, feel free to call us at (516) 858-2620 to speak to a divorce attorney!

 

Power of Attorney for Debt Settlement

On May 12, 2011, in Debt settlement, by John A. Weber IV, ESQ.

We have recently encountered some issues during debt settlement negotiations with creditors.  It now seems to be  an increasing trend that creditors are requiring a power of attorney form, even from your attorney, to discuss the creditors accounts.  Generally, a letter of representation or an authorization form is sufficient.  Don’t be shocked however when they refuse to speak with  any person who has not been given an effective power of attorney.  Although it seems to be a little redundant to have an attorney given such powers (which the retainer has seemingly already given him), the hurdle is minor and is generally easier to comply with than to challenge.  If there are any questions or concerns regarding whether or not granting your attorney the power of attorney is a wise decision, then feel free to call us at (516) 858-2620!

We proudly assist residents of Long Island: Nassau county, Suffolk county, New York City: Queens, Brooklyn, Bronx, Staten Island, and Manhattan with their debt issues.

Call (516) 858-2620 to arrange a FREE  consultation with a Debt Settlement attorney!

Debt Consolidation or Bankruptcy?

On February 28, 2011, in Bankruptcy, by Robbie L. Vaughn, Esq.

“I should have done this sooner.”

Recently, we have had more and more individuals come into our office who have tried to alleviate their debts by hiring a debt consolidation, debt resolution, debt settlement, or some other “get rid of your debt quick” company. Many of them have paid thousands of dollars to these companies.  Most of them have only had one or two, if they’re lucky, debts actually settled.  After we explain how bankruptcy works and the client decides that filing bankruptcy is in their best interest, they almost all say “I should have done this sooner.”

Get a free bankruptcy Consultation!

So, if you’re feeling overwhelmed by your bills and debt collectors are ringing your phone off the hook , it would be wise to obtain a free consultation from a bankruptcy attorney before you hand over what little money you do have to some company with a fancy commercial and/or website.

We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy filings. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., Ste. 208, Mineola, NY 11501

Call (516) 858-2620 to arrange a FREE  consultation with a bankruptcy attorney!

Buying A Home

On May 28, 2010, in Foreclosure, Real Estate, by Robbie L. Vaughn, Esq.

The Home Buying Process

The Home Buying Process

Buying a home can be exciting and joyous. However, the home buying process can get a bit confusing at times. We often act as the buyer’s attorney during real estate transactions. In an effort to answer some of their questions, we provide our real estate clients with the following overview of a real estate purchase . We hope that you find it useful as well:

BUYING A HOME (an overview):*

1.   The Buyer usually contacts a Real Estate Broker to help locate a property he/she would like to purchase.

Real Estate Broker–  Any duly licensed or authorized person, firm, or corporation who for a fee or commission lists for sale, sells, or exchanges real property.

2.  The Broker helps the buyer find a home.**

3. The Broker usually conducts a Comparative Market Analysis to help determine the value of the home.

Comparative market analysis– An estimate of the value of a property based on an analysis of sales of properties with similar characteristics.

4.  The Buyer usually makes an offer by submitting a real estate binder.

Real Estate Binder–   An agreement intended to evidence a modest payment toward the purchase of real estate as evidence of good faith on the part of the purchaser and acceptance by the seller. (A real estate document generally used in residential transactions).

5.   Seller accepts or rejects the offer.

6.   Assuming the offer is accepted, the buyer then hires an engineer/home inspector.***

7. Once both parties have agreed to move forward, the seller’s real estate attorney drafts and sends a proposed contract to buyer’s real estate attorney.

8. Contract terms are negotiated by the real estate attorneys.

9. Buyer meets with his lawyer for the “contract signing.”

10. Buyer’s  real estate attorney collects the down payment check, which is made out to the seller’s real estate lawyer “as attorney,” to be held in escrow, by the seller’s attorney, until the closing.

11. The signed contract and Down payment are forwarded to the Seller’s attorney.

12.   Buyer receives a copy of the fully executed contract, signed by all parties. This is then used to obtain a loan  (Commitment Letter) if necessary.

Commitment Letter– A promise by a lender to make a loan with specific terms for a specified period.

13. Buyer’s attorney orders a title examination & survey.

14.   Once all issues are resolved and the lender gives a clearance to close, a real estate closing is set.

Real estate closing– The transfer of the real estate title from seller to buyer according to the sales contract. All parties, as well as a title closer and bank attorney, arrive to conclude the transaction.  The buyer receives the title and keys to the real estate and the seller receives the balance of the purchase price.

**The Broker will likely request/require you to obtain a mortgage pre-approval before they begin showing you homes.

***The inspection can be done after step 12 if the parties agree. This is usually accomplished by placing an “inspection contingency” clause in the contract.

As always, the Law Firm of Vaughn, Weber & Prakope, PLLC is here to assist you.    Contact us at (516) 858-2620 to arrange a consultation with a Real Estate Lawyer.

*The above is merely an overview of a real estate transaction. Additional and/or different steps may be required during a particular transaction. This is not legal advice. ++All rights reserved.

Please visit our Real Estate category to Learn more about real estate.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. This website is Attorney Advertising. It does not form an attorney-client relationship. We are a debt relief agency and a law firm that helps people file for bankruptcy relief under the U.S. Bankruptcy Code – Title 11. Prior results do not guarantee a similar outcome. Proudly assisting residents of Long Island, Nassau county, Suffolk county, New York City, Queens, Brooklyn, Bronx, Staten Island, Manhattan