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New York Foreclosure Law Firm Fined Two Million Dollars

Steven J. Baum, P.C. of Amhearst, New York, has been fined two million dollars for inappropriate foreclosure legal practices. Steven J. Baum, P.C. is the largest foreclosure law firm in the state of New York. Steven J. Baum, P.C. has agreed, in addition to paying the two million dollar fine, to re-vamp its practices with regard to the handling of pleadings, affidavits and mortgage assignments in New York State and Federal Courts.The Law Firm has agreed to implement a variety of internal controls regarding its processing and handling of foreclosure proceedings. They have agreed to review original promissory notes received from their clients or custodians of the notes, prior to filing new foreclosure lawsuits. These actions will bring the firm in compliance with the order issued by Chief Judge Jonathan Lipman, regarding attorneys representing lending institutions.

Mortgage Foreclosure Proceedings

US Attorney Preet Bharara, from the Southern District of New York, stated, with regard to settlements in mortgage foreclosure proceedings, that there are “no excuses for sloppy practices that could lead to someone mistakenly losing their home.” She stated further that “homeowners facing foreclosure cannot afford to have faulty paperwork or inadequate evidence submitted and today’s agreement will help minimize that risk.”

Baum Law Firm Released from Civil Liability

The Baum Law Firm, upon payment of the two million dollar fine and the imposition of new internal procedures will be released from potential civil liability under the Financial Institutions Reform, Recovery and Enforcement Act of 1989. The Baum Law Firm

“acknowledges that it occasionally made inadvertent errors in its legal filings in state and federal Courts, which it attributes to human error in light of the high volume of mortgages and foreclosures it handled throughout the state of New York in the wake of the national subprime mortgage crisis.”It should be noted that this is a settlement. It is not a finding of wrongdoing by the Baum Foreclosure Law Firm. The Baum Law Firm has also agreed to have experienced attorneys supervising all aspects of the preparation of documents and reviewing of documents before they are filed with the courts. In addition, they are implementing a one to two-year training program for their attorneys to bring them in compliance with the rules regarding bringing foreclosure proceedings in the state of New York.

Hopefully, this law firm will live up to its responsibilities in dealing with foreclosure proceedings. Taking from a family, its home and putting them on the street is a sad end to the American dream. These proceedings should be handled in a manner that protects the homeowner’s rights and sees to it that homes aren’t wrongly foreclosed upon.

Foreclosure Defense Attorneys

We can fight your foreclosure. We litigate predatory lending issuesdefective foreclosure lawsuits, and defective mortgages. We attend foreclosure court conferences for our clients. We draft mortgage modifications and deal with mortgage modification programs that fail to meet our clients needs.

We also litigate foreclosure related bankruptcies, whether they’re a Chapter 7 bankruptcy or Chapter 13 bankruptcy. We also assist our clients in re-establishing credit after filing a bankruptcy. We can help stop your foreclosure from moving forward! Call us and we will provide you with a free consultation. We will discuss all of your foreclosure options.

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We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

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