Tag: short sale

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Short Sale a Must?

Short Sale I already modified my mortgage, but because of new circumstances I am late again. Must I Short Sale my home now? Not necessarily. You may be able to get another loan modification based on your “new circumstances.” The HAMP guidelines were recently changed to address this situation. Homeowners who have defaulted on a […]


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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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Foreclosure Settlement Conferences

Foreclosure Settlement Conferences What you should know about Foreclosure Settlement Conferences! Residential foreclosure defendants in New York are entitled to a preliminary foreclosure settlement conference that may enable a speedier and less expensive way of resolving their foreclosure issue than would otherwise be possible. The law requiring the conference – New York Civil Practice Law […]


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Fannie and Freddie set new short sale guidelines.

Fannie and Freddie set new short sale guidelines. From Freddie Freddie Mac’s new short sale timelines require servicers to make a decision within 30 days of receiving either 1) an offer on a property under Freddie Mac’s traditional short sale program or 2) a completed Borrower Response Package (BRP) requesting consideration for a short sale […]


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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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Short Sale Process Expedited?

Robbie L. Vaughn, Esq. is quoted in the following RISMEDIA article written by Keith Lora.  Mr. Lora discusses the proposed  H.R. 6133, Prompt Decision for Qualification of Short Sale Act of 2010. Will Proposed Short Sales Legislation Help Expedite Process? By Keith Loria RISMEDIA, October 4, 2010—New legislation was offered in Congress by U.S. Reps. […]


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Buying A Home

The Home Buying Process Buying a home can be exciting and joyous. However, the home buying process can get a bit confusing at times. We often act as the buyer’s attorney during real estate transactions. In an effort to answer some of their questions, we provide our real estate clients with the following overview of […]


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Filing Bankruptcy To Save Your Home From Foreclosure

Filing Bankruptcy to Save Your Home:  CHAPTER 7 Bankruptcy Will filing a chapter 7 bankruptcy save my home from foreclosure? Probably not. If you are facing foreclosure you have likely missed a few mortgage payments. Chapter 7 does not allow you to make up your missed payments over time. However, the “automatic stay” may delay […]


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Facing Foreclosure

I’m facing foreclosure, What can I do? Some of your options: 1. Do something: -Call your  lender and try to arrange a Loan Modification, Refinance, short sale, or Deed-in-Lieu of foreclosure. -Loan Modification- A Loan Modification is a permanent/temporary change in one or more of the terms of your mortgage loan. Ideally, this will result […]


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