The Appellate Division has reversed the famous decision of Suffolk Supreme Court Justice Spinner in IndyMac Bank, F.S.B. v. Yano-Horoski. This is a major step backwards for the rights of consumers and homeowners. Here is the law.com article on this:
It’s not a NY story but it might as well be. A New Jersey family is suing to make their loan mod permanent. Here is the article. My firm is handling various aspects of similar litigation in New York. It is an evolving area of law and it is not clear what standard courts will […]
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Here is an article discussing a recent order issued by the New Jersey Supreme Court against the largest mortgage lenders.
For many homeowners, filing Chapter 13 bankruptcy is a solution to save their home and catch up on arrears. One of the functions of my law office is to represent debtors in these cases. For those who are wondering how all these bankruptcy schedules are created for the Court, you may want to try out […]
Bloomberg.com has an interesting article about a law firm that has commenced foreclosure actions against many of my clients.
Lack of standing means that the lender does not have a legal right to foreclose. In recent years, attorneys (including myself) have asserted this defense in foreclosure and/or bankruptcy court. Gretchen Morgenson of the NY Times reports on the latest here.
A client came to me a few months ago after Chase denied him for a loan modification under HAMP and offered him one under Champ, which is Chase’s own internal loan mod program. Apparently, the Champ loan mod had more liberal guidelines which would allow the client to qualify for a modification but also had […]
“The disarray stemming from flawed foreclosure documents could threaten major banks with billions of dollars in losses, deepen the disruption in the housing market and hurt the government’s effort to keep people in their homes, according to a new report from a congressional watchdog . . . ” Read the AP article.
Q1222-01 of the Supplemental Documentation – Frequently Asked Questions under the HAMP program raises an interesting question. It speaks in terms of mandatory requirements for servicers to offer permanent mods after a borrower meets certain requirements.