Section 2523.5(a) of the NY Rent Stabilization code provides the following in pertinent part:
On a form prescribed or a facsimile of such form approved by the DHCR, dated by the owner, every owner, other than an owner of hotel accommodations, shall notify the tenant named in the expiring lease not more than 150 days and not less than 90 days prior to the end of the tenant’s lease term, by mail or personal delivery, of the expiration of the lease term, and offer to renew the lease or rental agreement at the legal regulated rent permitted for such renewal lease and otherwise on the same terms and conditions as the expiring lease. The owner shall give such tenant a period of 60 days from the date of service of such notice to accept the offer and renew such lease….
Landlord Tenant Attorney in Mineola
As always, The Law Firm of Vaughn, Weber & Prakope, PLLC is here to assist you with your Landlord-tenant matters. We are conveniently located in the heart of Nassau County, Long Island. Contact us at (516) 858-2620 to arrange a consultation.
What can I do after a bankruptcy dismissal?
After a dismissal, your bankruptcy case will be closed. The bankruptcy will be over unless/until a motion is made and granted reopening the case. Depending on the reason your case was dismissed, you may/may not be able to file another bankruptcy case right away. If you are able to file again, the length of the Automatic Stay might be an issue for you. A motion may have to be made to extend the length of the stay (your bankruptcy attorney will advise you about this issue).
Bankruptcy Attorney in Mineola
As always, the Law Firm of VAUGHN, WEBER & PRAKOPE, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., #208, in Mineola, NY. Contact us at (516) 858-2620 to arrange a consultation with a bankruptcy attorney.
Don’t file a Chapter 7 bankruptcy unless you have 500k in debt!
That’s pretty much what a radio show host recently said. We can’t see how this is good advice. There is no minimum amount of debt that one must have in order to file bankruptcy! Even more disturbing was the fact that the host appeared to be offering some sort of debt settlement guide or program they created.
First, Debt settlement can work, but you need money to settle! You have to be able to make a lump sum or monthly payments.
Secondly, we have had clients with very little debt file bankruptcy. Many individuals file bankruptcy to prevent home foreclosure, head off an impending lawsuit, discharge a judgment obtained against them etc.
Finally, Bankruptcy is not for everyone. We suggest that you speak with an attorney about bankruptcy and debt settlement before making a final decision.
As always, the Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., #208, in Mineola, NY. Contact us at (516) 858-2620 to arrange a FREE consultation with a bankruptcy and debt settlement attorney.
Foreclosures are Increasing
Foreclosures are increasing.
According to several recent news articles and reports, it appears that foreclosure actions are once again on the rise. Fortunately, we have noticed much of an increase in foreclosure actions being brought. At any rate, this is still troubling news.
Loan Modifications are up.
At least in our office, we have seen an increase in Loan Modifications. Many of our clients have recently received loan modification offers. Many of the offers are for a HAMP trial modification. However, we have received some permanent in-house modification offers.
Each case varies:
- Some cases involved lengthy litigation (years).
- Some cases were resolved in a matter of months.
- Several of our clients had already filed for chapter 7 bankruptcy
- Most, if not all, of our clients were previously turned down for a loan modification.
Note: Prior results do not guarantee a similar outcome.
The Law Firm of Vaughn, Weber & Prakope, PLLC routinely represents homeowners facing foreclosure. 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, and Manhattan) with their foreclosure matters.
Call (516) 858-2620 to arrange a FREE consultation with a foreclosure attorney!