Settle 2nd Mortgage for 10% of amount owed?

On September 29, 2011, in Bankruptcy, Debt settlement, Foreclosure, by Robbie L. Vaughn, Esq.

What if your 2nd mortgage holder was willing to settle your second mortgage for 10% of the loan amount owed?

Let’s say you owe 90k on your second mortgage and the bank is willing to accept 9k in full satisfaction. Not bad, right? Well, we have heard of such an offer! Generally, we would want to consider any issues or problems with the 1st mortgage holder. Additionally, among other things, we would want to determine  if the Homeowner could and/or should file bankruptcy and “strip-off” the 2nd mortgage. At any rate, such an offer is certainly worthy of careful consideration.

The Law Firm of Vaughn & Weber, PLLC, proudly assists residents of Nassau county (Long Island), Suffolk county (Long Island), Queens (New York), and Brooklyn (New York) with their legal matters. Call (516) 858-2620 to arrange a consultation with an attorney!

How long will my eviction take?

On September 8, 2011, in Landlord-Tenant, by Robbie L. Vaughn, Esq.

Common question:

“How long will my eviction take?”

We are often asked, by both landlords and tenants, how long it takes to complete an eviction. The best answer we can give is: “The sooner the eviction process is started, the sooner it will be over.”  The are numerous things that can speed up or delay the eviction process. Right now, the Sheriffs and Marshalls, who actually execute the “warrant of eviction,” are quite backlogged. This has been adding a considerable amount of time to the eviction process. So, no one can tell you exactly how long the eviction process will take. At the moment, it is even difficult to give someone a “ballpark” time-frame for an eviction from  start to finish.

However, there are things that your attorney can do and/or suggest to speed the process up a bit and avoid further delay.

The Law Firm of Vaughn & Weber, PLLC proudly assists Landlords and Tenants in Nassau county (Long Island), Suffolk county (Long Island), Queens (New York) and Brooklyn (New York) with their landlord tenant matters. Call (516) 858-2620 to arrange a consultation with a Landlord Tenant attorney!

Month to Month Lease?

On July 26, 2011, in Landlord-Tenant, by Robbie L. Vaughn, Esq.

Is a Month to Month Lease good or bad?

It depends on how you look at it:

Landlord

Good: Generally, Landlord can terminate the lease for any reason with a 30 day notice.

Bad: Generally, Tenant can leave at the end of any given month.

Tenant

Good: Generally, Tenant can leave at the end of any given month.

Bad: Generally, Landlord can terminate the lease for any reason with a 30 day notice.

So, neither side really has much security with a month-to-month lease agreement. However, there are situations when a month to month lease is appropriate. Landlords and tenants should consult with a Landlord-tenant attorney to fully understand the pros and cons of entering into a month-to-month lease.

We proudly assist Landlords and Tenants in Nassau county (Long Island), Suffolk county (Long Island), Queens (New York), and Brooklyn (New York) with their landlord tenant matters. Call (516) 858-2620 to arrange a consultation with a Landlord Tenant attorney!

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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