My firm just submitted a post-trial brief in a commercial case where we argued that a sale agreement which had a leaseback and an option to repurchase was intended to be a financing arrangement and loan between the parties. Here is the relevant excerpt from the brief:
My firm just finished a trial in the Kings Supreme Court that lasted several months concerning a commercial dispute over real estate. One of the issues we briefed in our post-trial memorandum of law deals with the question of whether the other party was a fiduciary to our firm’s client. Here is an excerpt from […]
The press is reporting on a huge settlement involving major banks and $25 billion. The figure is so large that it is almost incomprehensible. Here’s the story. When I read this, I wonder if any of these people – the lenders, the attorney generals, or the economists – really have a clue.
I have attended many loan modifcation conferences held under the New York Supreme Court mandatory foreclosure settlement conference program. The NY Times just published an article about some of the problems the participants face. Here is the story. If you have a mortgage problem or a foreclosure action and would like legal help, please call […]
Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe. Here’s the story. I’d suggest caution for any homeowner that is approached with a settlement offer from a lender. It would be wise […]
MSNBC.com has this interesting article about old mortgages, dysfunctional banks and wrongful foreclosures.
New York Supreme Court’s Commercial Division changed to mandatory electronic filing last year. It is a good system and has made filings easy to do and to prove. The State Courts are finally catching up with the Federal Courts. I have been filing papers electronically in the Bankruptcy Courts for years going back to the […]
The NY Times has an
There are many who think that the Supreme Court’s mandatory foreclosure settlement program is a bust. I have read that in Florida they have discontinued a similar program because it was not working. Here in New York, when I go to court I see so many pro se (unrepresented) homeowners who try to do this […]
This new law passed last year allows a residential mortgagor (homeowner) to recover legal fees against a mortgage lender under certain circumstances. Homeowners in foreclosure should plead a counterclaim under RPL 282 for recovery of legal fees under any one-sided legal fee clause in the mortgage that allows a mortgage lender to recover its fees […]