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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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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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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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Stop paying my second mortgage?

Can you stop paying your second mortgage? Sure. Should you stop paying your second mortgage? Maybe not. The prevailing theory is that if your home is worth less than what you owe on your 1st mortgage it is highly unlikely that the holder of your 2nd mortgage will bring a foreclosure action against you. Well, […]


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PBS: Faulty Paperwork Prompts Foreclosure Investigation

In the following video Justice Schack, a NY Supreme Court Judge, and others discuss and provide examples of faulty foreclosure paperwork: PBS Video: Faulty Paperwork Prompts Foreclosure Investigation As always, The Foreclosure Defense Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, […]


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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: President Obama to Announce New Plan for Underwater Homeowners

The Wall Street Journal reports that the President will announce a “short refinance” program on Tuesday. Under this program: banks and other creditors that write down mortgages to less than the value of the property can essentially hand off the reduced loan to the government. The process involves refinancing borrowers into loans backed by the […]


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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 Eligibility

Am I Eligible For A Foreclosure Settlement Conference? Generally, you are eligible for a Mandatory Foreclosure Settlement Conference if: The foreclosure action was commenced against you after February 13, 2010, OR Your case was commenced between September 1, 2008 and February 13, 2010, and involves a subprime, high-cost or nontraditional loan, and The property is […]


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