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A Thousand Days to Foreclose a Home
There is an old expression that courts have two speeds, slow and backwards. In the State of New York, that is certainly true if you’re involved in foreclosure proceedings. It is estimated that it takes...
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NY Foreclosure Law Firm Fined Two Million Dollars
Steven J. Baum, P.C. of Amherst, New York, has been fined two million dollars for inappropriate foreclosure legal practices. Steven J. Baum, P.C. is the largest foreclosure law firm in the state of New...
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Government Turning a Quarter Million Foreclosed Homes Into Rentals
The President is considering turning a quarter of a million homes taken over by government controlled agencies into rentals. Putting these homes on the market for sale will only further depress the...
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Falling Home Prices Wreaking Havoc on the Economy
Economists in the United States are taking the position that falling home prices are a significant problem preventing the economic recovery in the United States. The devaluation of homes in the United...
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Summer Home Buying Season, the Worst in Five Decades
Spring of each year starts the home buying season. The months of April through the end of August signals the time that most home buyers come into the market. This is usually a time of heightened...
View ArticleShould You Buy A Foreclosed Property?
In foreclosure situations the bank brings a foreclosure action against a home owner. Sometimes, after many years, the bank successfully takes title of the home. They evict the family who lived in the...
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Part I: Bank of America Employees Lied To Homeowners
In a lawsuit filed against Bank of America, six former Bank of America employees and one outside contractor working for Bank of America, filed affidavits with the court, claiming they regularly lied to...
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Part II: Other Financial Institutions Deny Mortgage Modifications For...
Chris Wyatt, who had previously worked for Goldman Sacks subsidiary, Litton Loan Servicing, claimed the company occasionally conducted “denial sweeps.” The purpose of the denial sweep was to reduce the...
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Wells Fargo Sanctioned By Court For Bad Foreclosure Practices
Justice Yvonne Lewis, sitting in Supreme Court in Kings County recently sanctioned Wells Fargo for “wantonly flagrant” bad faith involved in a residential foreclosure lawsuit. Justice Lewis in her...
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Foreclosure Defense Facts: Keeping Your Home When Facing Foreclosure – Part III
Your Loan Modification Was Denied! This is not the end of the world. To start with, even if your loan modification was approved, they may not have modified your loan to the point where you can afford...
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