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 (516) 858-2620 to speak with a Foreclosure Attorney!
It may have seemed inevitable to those directly involved in the foreclosure field, but it is still a surprise to hear. According to a Buffalo Business First, the mega-firm of Steven J. Baum, P.C. is to close it’s doors:
“The embattled Steven J. Baum P.C. law firm is the closing its doors after a series of missteps that included mortgage industry giants Freddie Mac and Fannie Mae cutting off business with the Amherst-based firm.”
Read the full article here.
If you are facing foreclosure and are seeking assistance, please call us at (516) 858-2620!