Tag: foreclosures

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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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News: Man Gets Free house

We figured this would start happening sooner or later. So far this year we have been made aware of three (3) cases where the lenders actually “walked away.” The homeowners appear to have been left with a home without a mortgage on it (a free house). The following is from Jacksonville.com: Bank gives man foreclosed […]


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NEWS: Change in Foreclosure Process?

The following is from a recent New York Times article: The nation’s top mortgage servicers are expected to sign legal agreements by the end of this week compelling them to change their foreclosure procedures, regulatory officials said Tuesday. The servicers, which violated state and local laws and regulations governing foreclosures, are agreeing to improve their […]


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Foreclosures Plunge

Robbie L. Vaughn, Esq. is quoted in the following New York Law Journal article written by Andrew Keshner.  Mr. Keshner details how the new Attorney Affirmation requirement has impacted recent foreclosure filings. As stated in the article, we have seen a substantial decline in calls from homeowners seeking foreclosure defense representation. However, we have had […]


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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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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: 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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Major Banks Halting Foreclosures in NY?

Are foreclosures being halted in NY? Foreclosure defense is a large part of our law practice. We are currently defending foreclosures brought by GMAC, Chase, Bank of America, Wells Fargo etc.  For the most part, we have not seen much evidence of these lenders suspending current foreclosure actions. They are still opposing our motions, replying […]


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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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1 Million Homes May be Lost to Foreclosure In 2010

Over 1 million homes could be lost to foreclosure this year A recent Associated Press article is reporting that: “More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.” And that: […]


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