The US Bankruptcy Court for the Southern District of New York will be holding a seminar for attorneys about the Intersection of the Bankruptcy Loss Mitigation Program with HAMP/HARP on February 18, 2010. The Bankruptcy program is relatively new in this District. The Eastern District also adopted a similar program at the end of 2009. […]
MSNBC.com is reporting that the government’s loan modification programs are falling short of their goals. Here is the article. This highlights the need for experienced legal counsel. I am still surprised by the number of new callers to my Manhattan law office who tell me that they have already paid an out-of-state “loan Modification consultant” […]
Hearing a bank tell us that they don’t have the papers has become a standard part of our firm’s loan modification / loss mitigation practice. It’s either, “we didn’t get your fax”, or “we cannot locate the file” and even sometimes they admit they “lost the file.”
The NY Times Magazine did an interesting piece on morality and foreclosures. This is a debatable topic with no clear answer. You can get widely varying opinions depending on who you speak to. Here is the article: The Way We Live Now Walk Away From Your Mortgage!
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Bankruptcies increased 32 percent in 2009 Last year was 7th-worst on record with over 1.4 million petitions submitted Here is the article from MSNBC.com about the increase.
GOVERNOR PATERSON ANNOUNCES PASSAGE OF COMPREHENSIVE FORECLOSURE LEGISLATION Bill Strengthens Protections for Homeowners, Tenants and Neighborhoods Read the Press Release
The NY Times notes what a long and painful process a short sale can be. Here is today’s article.
NY Times 11/29/09 Foreclosure Protections for All
U.S. Will Push Mortgage Firms to Reduce More Loan Payments NY Times 11/29/09