Did You Ever File Chapter 13 Bankruptcy? Not Really?! (A Short Story About Dabblers and Debtors)

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     This is one of the first things I always ask new callers.  I need to know if I am dealing with a potential repeat Chapter 13 filing and the whole can of worms that opens up (with unhappy trustees and judges, with restrictions on the automatic stay, etc).  What never ceases to amaze me is the answer I get.  Maybe.  Not really.  I don’t know.  I think so.  I did but then I didn’t.  WHAT?!!! HOW CAN YOU NOT KNOW IF YOU EVER FILED BANKRUPTCY? THAT IS MAJOR.  This isn’t like someone casually asking what you ate for lunch yesterday.  Or where you left your car keys or glasses.  Things you might forget.  This is like being pregnant.  Either you are or you aren’t.  There is no such thing as being a little bit bankrupt.

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What The Heck Is MERS?

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     The New York Court of  Appeals (the highest court in the State) recently issued an interesting decision about MERS, an entity that seems to show up in the caption of many clients’ foreclosure actions.  Most clients don’t know what MERS is or why it is suing them.  Read on –

http://www.courts.state.ny.us/reporter/3dseries/2006/2006_09500.htm

Do You Have A Foreclosure Sale Date Yet? Don’t Wait Until This Becomes An Emergency. Run To Your Lawyer!

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     If you call me to discuss a mortgage problem, more often than not, our conversation will start with one question – is there a sale date yet? Many people have no idea.   In foreclosures, the sale date is a key date for the homeowner.   Once it passes, all hope is lost.   Not always.   But most of the time. Up until the moment that the gavel is struck down by the court-appointed referee, a homeowner can still take some action to prevent the sale. In other states, the timing may vary.   In New York, the sale date is usually the end of the road. Read more

Real Estate Broker Commissions Are Flexible But Selling A Property In Foreclosure Requires Speed Above All Else

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     Sometimes a property owner in foreclosure will decide to sell the property rather than lose it to foreclosure or file bankruptcy.  For some, it’s a difficult emotional choice.  But that old mantra comes back again – time is not on your side in foreclosureland.  Having made the decision to leave, there are a few questions to deal with.  How to find a buyer?  How to market the property?  What should I ask for?  Should I use a broker?  What do brokers charge?  As a licensed attorney and real estate broker, I encounter these questions often.  The answer often lies with first figuring out what a broker will charge.  Read more

Alternatives for Homeowners in Foreclosure (Part 1 of 2)

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     If you have a home or investment property in foreclosure, you are probably wondering what your are alternatives are. You may already know some of them but may have questions about the procedures, costs and how they compare. This post is a short primer on the available alternatives typically considered. As always, you should consult with an attorney who can help you determine which alternatives might best fit your particular situation. Read more

NY Foreclosure Law Blog Is Online – The Secret Is Out, You May Have Alternatives

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     Welcome to the NY Foreclosure Lawyer Blog! It’s my hope that this blog will be useful to homeowners and real estate investors who are behind on their mortgage payments. I have been dealing with this for nearly 20 years now (since 89′ as an attorney). There actually seems to be very little information available online for the New Yorker with this problem. In trying to decide what to call my blog, I knew there were a few rules to follow, starting with don’t make the reader think. People have little time to find what they want on the net. I had so many cutesy names and ideas. Red Ink Realty. Foreclosure Handbook. I own the domains. But in the end, I settled on the NY Forclosure Law Blog because it gets to the point and it means what it says. No thought required. And while my target audience is the New York homeowner, I suppose that lenders and their lawyers will benefit as well. Never hurts to know about your adversary’s legal rights and strategies. Having worked for large firms and represented lenders and trustees, as well as homeowners, I think I know all of the “players” here pretty well. Their inner most thoughts. About foreclosure that is. I’ve been the New York foreclosure lawyer as plaintiff and defendant countless times. Read more