REO Properties

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Here are two articles on REO properties – which are the properties owned by lenders after they complete a foreclosure –

Financing REO’s

Buying REO’s

Citigroup Settles Mortgage Lawsuit For $285 Million

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Citigroup has just settled an SEC fraud suit dealing with risky mortgages for $285 million. Here is the story.

Games Lender’s Counsel Play – Motions To Allow Late Answers And Vacate Defaults

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I have just experienced a game played by one of the lender/plaintiff’s firms in the NY area. Read more

U.S. Fines New York Law Firm $2M for Improper Foreclosures

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The law firm of Steven J. Baum P.C. has reached a major settlement after being investigated for how it handled New York foreclosure actions for lender clients. Many of my firm’s clients are borrowers and property owners who have loans that the Baum firm has handled. We are very familiar with this firm. If you have received court papers with this firm’s name on them, please feel free to email or call us to see if we can help you.

Here is the story.

Here is another one.

Don’t Lie In Court, Especially Bankruptcy Court

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A debtor was sentenced to a year in jail for lying in a bankruptcy case he filed to stop foreclosure. Here is the story.

Refinancing Underwater? Don’t Count On It

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Here is a NY Times article about the HARP program and refinancing if you have no equity. For most who try to refinance without equity, they find the experience a miserable one. According to everything I have read, the HARP program has been a dismal failure. Homeowners are better off trying to modify or file Chapter 13 with the help of experienced legal counsel.