This article outlines the many problems associated with debt negotiation companies and the false claims they made. The FTC has stepped in to stop their abuse.

My firm spent part of the last week drafting papers to stop an HSBC foreclosure sale set for tomorrow. We met with our clients, researched some of the background facts and legal issues and drafted an order to show cause to request a temporary restraining order in the Bronx Supreme Court. I went to the court on Thursday and the Court granted the TRO on Friday staying the sale. The primary legal ground relied on was that the lender still had not issued a final determination on a loan modification. We cited numerous laws requiring good faith in this process in order for the sale to be regular and valid under CPLR 2003.

If you are facing an imminent sale, time is very short. You should call or email my office asap to discuss whether we can help.

I am encountering a relatively new issue with loan mods. Banks are putting people into trial mods. Some homeowners were current at the time but facing an imminent default. Many months pass. Then the bank sues to foreclose based on a default alleging that the payment by the homeowner of reduced payments under the trial mod are a default because the loan is now delinquent. Client calls me for help. I am not making this up.