CPLR 3408 – Good Faith In Mandatory Foreclosure Settlement Conferences

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Enacted in 2008, CPLR § 3408 originally applied only to foreclosure actions involving high-cost, subprime or nontraditional home loans. In 2009, the law was extended to cover all residential home loans. CPLR § 3408 requires, among other things, that the court hold a mandatory conference within sixty days after the date when proof of service is filed with the county clerk. CPLR § 3408(f) requires that the lender and homeowner “negotiate in good faith to reach a mutually agreeable resolution, including a loan modification, if possible.” 22 NYCRR 202.12-a states that the court “shall ensure that each party fulfills its obligation to negotiate in good faith and shall see that conferences not be unduly delayed or subject to willful dilatory tactics so that the rights of both parties may be adjudicated in a timely manner.” Read more

Settlement Negotiations As The Basis For A Reasonable Excuse To Vacate A Default And File A Late Answer

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A foreclosure can be upset if the borrower convinces a court that he thought settlement negotiations were proceeding and that he therefore was not obliged to defend the case. This happened in Wells Fargo Bank, N.A. v. Chateau, 36 Misc.3d 280, 947 N.Y.S.2d 773 (2012). Read more

Epidemic of Foreclosure Actions Being Dismissed and Restarted

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If your foreclosure action has been discontinued after 2 or 3 years with no explanation, be aware that it is not all good news. The bank will likely just sue you again in a new action. I believe that the reason this is happening is because of a court rule requiring plaintiff’s lawyers handling foreclosures in New York state to sign a form verifying all documents in the proceeding are accurate. I think that many of the plaintiff’s lawyers are afraid to certify their papers and are starting over to make sure that their court filings are proper. Several clients and new callers have had their cases discontinued without explanation.

Joinder, Nonjoinder, and Misjoinder

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In a litigation, all necessary parties must be joined in the action. Failure to do so may result in dismissal. This is codified in the CPLR: Read more

LANIN LAW P.C. IS 2014 NY BANKRUPTCY LAW FIRM OF THE YEAR SECOND YEAR IN A ROW

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NEW YORK, N.Y. – Lanin Law P.C. is pleased to announce that the firm has been named “Bankruptcy Law Firm of the Year” for the second year in a row in New York.* (Corporate International Global Awards)

“We are delighted to receive this award and recognition once again,” said Scott Lanin, Managing Attorney of the Firm. “In addition to our Commercial Litigation and Mortgage Foreclosure/Loan Modification practice , we have extensive experience in bankruptcy cases, representing both debtors and creditors, trustees, receivers, and an examiner for the past 25 years, in State, Federal and Bankruptcy Courts in New York and throughout the U.S. It is very gratifying to receive this recognition for our Bankruptcy Practice.”

According to Corporate International’s site:

“The awards commemorate those who have been successful over the past 12 months and who have shown excellence not only in expertise but in service.  For all our awards we have undertaken detailed research via our independent research and editorial teams. We then create a shortlist of up to 5 potential winners in each category.  The shortlisted parties have been carefully scrutinized. We focus on service type, service range, business type, geographical location, how the business operates and the expertise each team can offer . . . The shortlisted firms are then reviewed by an independent awards panel in each country with the eventual winners chosen by that independent panel.  Our awards therefore promote leading firms in their chosen specialisms throughout the world . . . it’s a huge accolade for those firms that are awarded as winners in their specific categories . . .  We have awarded some of the largest law and accountancy practices globally as well as boutique, specialist firms on a domestic level . . . Independently judged to ensure the very best advisers are chosen for each award category . . . A truly global awards which merits leading advisers from every corner of the globe.”

Jonathan Elliot, Awards Secretary, notified the Firm:

“Dear Scott

I have great pleasure in informing you that you/your firm have been successfully chosen as the SME winner of the 2014 Corporate Intl Magazine Global Award for the following category:  ‘Bankruptcy Law Firm of the Year in New York’

Winning this award means that you can now utilise our winner’s logo on your website, company emails and your marketing literature if you wish to, (free of charge). You can also promote your success however you like . . .   Once again I would like to congratulate you on this accomplishment . . .

Best Regards,
Jonathan Elliott, Awards Secretary
Corporate INTL
www.corp-intl.com“

*Receiving the award is not intended and should not be viewed to create an expectation about results that might be achieved in a future matter.