Tag: loan modification

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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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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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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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Denied a HAMP Loan Modification?

HUD launches a new website that will allow homeowners to conduct their own net present value (NPV) evaluation of their mortgage for the Home Affordable Modification Program (HAMP): Overview CheckMyNPV.com is a free tool provided by the United States Department of the Treasury, and the Department of Housing and Urban Development in conjunction with the […]


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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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News: NY Unions Want Chase to Modify Mortgages

The following is from The New York Times: Unions to Press Chase on Modifying Additional Mortgages By CARA BUCKLEY Published: February 9, 2011 Leaders of two large New York City unions said Wednesday that they would push for their pension funds to sell their stocks and bonds in JPMorgan Chase if the bank did not […]


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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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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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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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