Tag: Foreclosure defense

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New Foreclosure Notice Requirement

Foreclosure Notice Requirement The National Mortgage Settlement’s Pre-Foreclosure Notice Requirement for servicers Servicers must now provide the homeowner with a pre-foreclosure notice  at least fourteen (14) days before referring the case to a foreclosure attorney. *The notice must: Set forth facts supporting the Servicer’s or holder’s right to foreclose. Include an itemized summary setting forth […]


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Federal Government Files Charges Against 530 Mortgage Relief Scammers, Claiming Damages Over $1 Billion

Mortgage Relief Scammers The Federal Government appears to be increasing its efforts to protect homeowners from mortgage rescue scammers.  As we reported here, mortgage rescue scammers may attempt to take advantage of homeowners by fraudulent posing as government programs, accepting payments without providing services, or transferring title to the mortgaged premises, among other things.  The […]


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Mortgage Relief Organizations Sued by Federal Trade Commission

Federal Trade Commission vs. Mortgage Relief Companies Federal Trade Commission sues mortgage relief companies The Federal Trade Commission recently filed three separate lawsuits against mortgage relief companies – Prime Legal Plans/Reaching U Network, American Mortgage Consulting Group, and Expense Management America.  According to the FTC’s allegations, these companies were fraudulently selling mortgage relief services.  The […]


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Free Foreclosure, Loan Modification and Bankruptcy Assistance

Free Foreclosure, Loan Modification and Bankruptcy Assistance The following article appeared in Today’s New York Newsday: Nassau County homeowners at risk of losing their homes can get free housing and legal advice on Monday, Oct. 1. The Nassau County Bar Association will hold its monthly foreclosure clinic from 3 to 6 p.m. at its headquarters […]


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Looking at Shadow Inventory

New York Shadow Inventory Shadow Inventory The Wall Street Journal had a very interesting article written by Nick Timiraos (a link to the article is provided below) regarding shadow inventory.  The article talks about interesting topics such as the decrease in the new homes being built and its effect on investor interest in REO (bank […]


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HAMP Changes

HAMP Changes The Obama Administration, The U.S. Department of  The Treasury, and the U.S. Department of Housing & Urban Development  recently announced important enhancements to the Home Affordable Modification Program (HAMP). The program is being expanded and made available to: • Homeowners who do not meet the 31 percent debt-to-income (DTI) requirement for a traditional […]


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Foreclosure Defense and Loan Modification Increase

Foreclosure Defense and Loan Modifications 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 […]


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Steven J. Baum to close

Steven J. Baum to Close 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 […]


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More Loan Modifications?

This year, much to our delight, several of our foreclosure defense clients have received acceptable loan modification offers from their respective lenders. What’s most pleasing is that these clients had been rejected, on several occasions for some,  or they were previously offered an unacceptable, unaffordable loan modification. Last year, we found loan modifications hard to […]


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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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