Tag: facing foreclosure

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Mortgage Forgiveness and Bankruptcy

Mortgage Forgiveness and Bankruptcy Bank of America mortgage forgiveness and bankruptcy Recently we have written about Bank of America forgiving second mortgages and the National Mortgage Servicer Settlement. Many homeowners facing foreclosure are anxious to find out if their second mortgage will be forgiven by Bank of America. Well, it appears that one pattern may have emerged. […]


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Bank of America Mortgage to Lease Program

Rent your home from BOA under its “Mortgage to Lease Program.” Bank of America (BOA) recently issued a Press Release outlining a “Limited Pilot Test” of their “Mortgage to Lease Program.” Under this program some BOA mortgage customers will be allowed to deed their homes to BOA and become renters instead of owners. From the […]


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NY A.G. reaches $4 Million Settlement With Steven J. Baum P.C.

Steven J. Baum P.C. Settles NY Attorney General Eric T. Schneiderman recently announced an agreement with New York Foreclosure Law Firm Steven J. Baum P.C., and Pillar Processing, LLC, which requires that they pay $4 million to the State of New York. $2 million of which will be used to assist homeowners facing foreclosure, or […]


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Mortgage Servicing Settlement

Mortgage Servicing Settlement The following Excerpts are from a recent Press Release by NY Attorney General Eric Schneiderman regarding mortgage servicing settlement: A.G. SCHNEIDERMAN SECURES $136 MILLION FOR STRUGGLING NEW YORK HOMEOWNERS IN MORTGAGE SERVICING SETTLEMENT After Schneiderman’s Persistence, Narrow Settlement Preserves Sweeping Legal Claims For Housing Crisis Misconduct That Has Not Yet Been Investigated […]


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Foreclosures and Loan Modifications Up

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, […]


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Facing foreclosure, should I consider bankruptcy?

Yes. Why? Because the longer you wait to file bankruptcy, the more difficult it may be to save your home. But the bank might modify my mortgage. Sure, but what if the bank doesn’t modify your mortgage. While you wait for a potential loan modification – your mortgage arrears and the interest are piling up. […]


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Chase MIGHT pay you 20k to short sale

“We would like to talk with you about the possibility of selling your home for less than the amount you owe. If we agree on a lower sale price and a few other terms and you sell your house for that amount before foreclosure, you will get $20,000.” That is what it states in a […]


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NY Attorney General Calls For Suspension of Foreclosures

The following article is from NY Attorney General Cuomo’s website. It calls for suspension of foreclosures by mortgage servicers engaged in “robo-signing” and offers sound advice to New York homeowners who are facing foreclosure proceedings. ATTORNEY GENERAL CUOMO EXPANDS PROBE OF NEW YORK FORECLOSURE ACTIONS Demands information from Bank of America, JP Morgan Chase, Wells […]


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Q & A: How Can I Use My Ch. 7 Bankruptcy to Avoid Foreclosure?

Bank won’t modify my mortgage, how can I use the chapter 7 bankruptcy I just filed to avoid foreclosure? The following are “some” of the things you can do to avoid foreclosure if you just filed a chapter 7 bankruptcy: “Maybe” filing a “chapter 20” bankruptcy, which is a chapter 7 followed by a chapter 13, will help you. […]


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Foreclosure Settlement Conference

Foreclosure Settlement Conference Purpose of the Foreclosure Settlement Conference According to New York law (RPAPL 3408), the purpose of the foreclosure settlement conference includes, but is not limited to, “…determining whether the parties can reach a mutually agreeable resolution to help the defendant avoid losing his or her home, and evaluating the potential for a […]


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