OUR SERVICES
Commercial Litigation & Appeals
Mortgage Foreclosure Defense
Loan Modification
Business Law
* CONSULTS
Cases and disputes can vary in complexity. Some can be handled in a routine 20 minute phone consult. More complex matters will require time to review and analyze documents and legal issues. If your matter is more complex, we may offer you a paid one hour consultation or hourly services, depending on the time needed to properly evaluate your situation. We always require a signed retainer agreement before we begin to provide legal services. The agreement will detail the scope of services included as well as your rights as a new client.
CONTACT US
Lanin Law P.C.
330 W 38th St., Suite 506
New York, N.Y. 10018
(212) 764-7250
*on W38th St. between 8th and 9th Avenues, walking distance from Port Authority, Times Square, and Penn Station
Government Report Confirms That Bankruptcy Reform Cost The US Trustee Program An Extra $72 Million So Far
/in Foreclosure & Loan Mod Blog /by Scott LaninThe 2005 reforms to Bankruptcy Law were right out of George Orwell’s 1984. Read more
Hardship Letters And Adjustable Rates
/in Foreclosure & Loan Mod Blog /by Scott LaninMany clients have adjustable rates that are about to reset. Many cannot afford the new higher payment. I have found that some lenders are willing to renegotiate these loans to a fixed rate. Sometimes a hardship letter is helpful, explaining the circumstances. It is usually best to have an experienced attorney assist with this. Lender’s attorneys are usually more responsive when they are dealing with another attorney. Many of my clients got the runaround before they came to me. As a bankruptcy and litigation attorney, I offer them instant credibility with the lender’s attorneys, as well as the very real fall back option of Chapter 13 bankruptcy. Lender’s counsel and banks know that borrowers who qualify for Chapter 13 can stretch out the payment of arrears for up to 5 years – so lenders may be more willing to speak to an attorney to avoid this outcome.
Two Other Alternatives To Foreclosure
/in Foreclosure & Loan Mod Blog /by Scott LaninI have blogged on this before but it’s worth repeating. Since most people won’t qualify for assistance under any new federal legislation, homeowners may want to consider short sales and deeds in lieu transactions. Neither will save your house but they could help you avoid a painful foreclosure process. In a short sale, you sell the house for a fair market price that is less than what you owe and the lender agrees to forgive the deficiency balance. In a deed in lieu of foreclosure, you hand over a deed to the lender and walk away. Lenders are more willing to consider these options now because they may want to avoid losses they experience in foreclosure. Homeowners thinking about these options and other choices such as refinancing, Chapter 13, forbearance and modifications, can call me in my Manhattan office to discuss their alternatives.
Debt Collectors’ Tactics
/in Foreclosure & Loan Mod Blog /by Scott LaninNewseek has an interesting article on the tactics used by debt collectors.
New Rule Requires Additional Appraisals Before Mortgages Are Transferred
/in Foreclosure & Loan Mod Blog /by Scott LaninAnother good idea gone awry? The NY times is reporting that NY Attorney General Cuomo has made an arrangement that will require additional appraisals before mortgages are transferred to investors. Intended to protect homeowners, this could end up costing borrowers more. Someone will be paying for the additional appraisals. Here is the article
I have blogged on the consequences of good intentions before. See my 6/12/08 post.
Will A New Law Make It Even Harder To Get Loans? Mortgage Brokers May Have Greater Liability
/in Foreclosure & Loan Mod Blog /by Scott LaninThe NY Times is reporting that a new law about to be approved in New York State may put a greater burden on mortgage brokers to make sure that borrowers can afford to repay new loans. Here is the story.