The US Bankruptcy Court for the Southern District of New York has adopted a new form Chapter 13 plan for 2009. The plan is very long – almost like a mini-Chapter 11 plan – and it appears that a lot of careful thought was put into it but it is terribly detailed and time-consuming. The form can be found on the Court’s site. I handle cases in this District for homeowners from Manhattan, Bronx, Rockland and Westchester counties. One noticeable feature that has been added to the plan for the first time is an option for debtors to express an interest in discussing loss mitigation (such as loan modification, loan refinance, short sale, or surrender in full satisfaction) concerning the debtor’s real property.

As I near the close of my second full year of blogging on New York’s foreclosure laws, I thought back to my first post. I discussed the misleading nature of the many foreclosure rescue websites out there. Since my readership has grown, and continues to grow as the country experiences the worst foreclosure crisis in history, I thought it would be a good time to share my first post with new readers. Here it is: http://nyforeclosurelaw.com/2007/03/25/ny-foreclosure-law-blog-is-online-the-secret-is-out-you-may-have-alternatives/.

I suggest avoiding rescue and modification sites that:

1. Appear to be government sanctioned and are not (i.e, they use words like “Federal” in their name).
2. Are anonymous.
3. Do not identify any attorney involvement.
4. Are based out of state.
5. Offer a slick presentation and hype but little real content or facts.
6. That discourage one foreclosure solution over another in broad general sweeping language without considering the particular facts or laws.