Category: Message/News Board

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News: Fund to compensate those who lost home in improper foreclosure

The following article is from The Washington Post: By Ariana Eunjung Cha and Brady Dennis Washington Post Staff Writers Wednesday, November 17, 2010; 12:03 AM State attorneys general and the country’s biggest lenders are negotiating to create a nationwide fund to compensate borrowers who can prove they lost their home in an improper foreclosure, state […]


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News: Homeowners that Defend Foreclosure Can Recover Attorney’s Fees

Access to justice in lending act Governor Paterson has signed the “access to justice in lending act.” This law makes the right to recover attorneys fees by the lender, contained in mortgage agreements, a reciprocal right. The new law, Real Property Law §282, takes effect 60 days after its signing.  It applies to “residential real […]


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New Attorney Verification Requirement in NY Foreclosure Actions

A partner at our firm, Robbie L. Vaughn, is quoted in this article from The New York Law Journal:  Check it out below!  As always we are here to answer any questions concerning this new court ruling at (516) 858-2620! New Court Rule Says Attorneys Must Verify Foreclosure Papers Andrew Keshner New York Law Journal […]


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News: New York Courts Institute New Foreclosure Filing Requirement

The following Press Release is from the NYS Unified Court System: New York Courts First in Country to Institute Filing Requirement to Preserve Integrity of Foreclosure Process NEW YORK – The New York State court system has instituted a new filing requirement in residential foreclosure cases to protect the integrity of the foreclosure process and […]


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News: BOA to Resume Foreclosures

It appears, based on the following article, that BOA will be resuming foreclosure proceedings in NY and 22 other states. As we stated earlier, we doubt that foreclosures were ever really halted in NY (see our earlier post on NY foreclosures). Alan Zibel, AP Real Estate Writer WASHINGTON (AP) — The pace of U.S. home […]


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News: NY Banking Dept. Requests Suspension of Foreclosure Actions

The following is from the NY Banking Department’s website: October 8, 2010 To the Institution Addressed: Recent events surrounding the foreclosure process of several mortgage loan servicers and the use of individuals identified as “robosigners” to execute affidavits without proper verification have raised considerable concerns for the Banking Department. As you may be aware, on […]


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News: Interstate Recognition of Notarizations Act

There has been recent debate over the Interstate Recognition of Notarizations Act which was quietly passed by the U.S. House and Senate, but was pocket vetoed by President Obama. This bill would require “any Federal or State court to recognize any notarization made by a notary public licensed by a State other than the State […]


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News: BOA Halting Foreclosure Sales In All 50 States

The Wall Street Journal reports that Bank of America (BOA) is placing a moratorium on all “foreclosure sales” across the U.S. (see below). However, BOA hasn’t halted all foreclosure proceedings (see our earlier post Major Banks Halting Foreclosures in NY?). Additionally, it appears that a BOA spokesperson is implying that BOA’s completed foreclosures were proper. […]


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News: Foreclosures to Slow Due to Document Flaws

The following is from a recent New York Times article: The foreclosure machinery that has forced millions of Americans out of their homes is beginning to seize up as some lenders and their lawyers are accused of cutting corners in their pursuit of rapid home repossessions. GMAC and JPMorgan Chase have acknowledged legal missteps, and […]


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News: 7 lenders ordered to review their foreclosure procedures

The following is from a recent Washington Post article: A top federal bank regulator said Thursday that he has directed seven of the nation’s largest lenders to review their foreclosure processes after learning about the widespread mishandling of homeowner evictions by the industry. John Walsh, acting director of the Office of the Comptroller of the […]


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