New York Law Grants Homeowners Attorneys’ Fees in Foreclosures

If you get sued by your bank in a foreclosure proceeding they always ask for attorneys fees. If the bank is successful in the foreclosure proceeding their attorneys get awarded attorneys fees. Theses attorneys fees can be substantial involving many thousands of dollars.

Up until now if a homeowner is successful in defending a foreclosure proceeding he or she get stuck paying his/her attorneys fees. However, David Patterson, the Governor of the State of New York has come to homeowners rescue.

Banks Pay Homeowners Attorneys Fees

Under a new law passed by the state legislature and signed by Governor David Patterson homeowners in foreclosure proceedings can claim  attorneys fees from  lenders. The law titled the Access to Justice in Lending Act will allow homeowners to be on the some footing as financial institutions in foreclosure proceedings. Homeowners will be entitled  to recoup all of their attorneys fees in the event they are successful against their mortgage lenders. It  is hoped that the potential of homeowners collecting attorneys fees from their financial institutions will motivate the financial  institutions to be more cooperative with regard to working out loan modification agreements with their mortgage holders.

The law  was originally opposed by the State Bankers Association.  Organizations representing  homeowners were extremely enthusiastic about the new bill. The homeowners  associations argued that the proposal would allow more homeowners to obtain legal  representation and motivate lenders to amicably resolve foreclosure proceedings.

The statute is modeled on New York Real Property Actions Proceedings Law section 234. This give tenants the right to obtain attorneys fees from landlords when landlords had a provision in their lease agreements giving them attorneys fees in eviction proceedings against tenants.

About Our Firm

For more than 30 years our law firm has assisted individuals with mortgage modifications, foreclosure defense and lawsuits involving creditors. We have expertise in defending homeowners in foreclosure lawsuits. We have litigated cases involving predatory lending practices. We are also familiar with the issues involving failed mortgage modification programs. Should you, a friend or family  member be involved  in a foreclosure. You need a foreclosure defense attorney to represent you. Our experience in representing  individuals in all aspects of foreclosure  defense including but not limited to foreclosure defenses and litigating foreclosure issues makes us one of the foremost foreclosure defense law  firms in the metropolitan New York area. Feel  free to call us for a free consultation at 516-561-6645, 718-350-2802 or 1-800-344-6431. We are available 7 days a week.

Fargo To Amend Foreclosure Proceedings

For  the past month and a  half Wells  Fargo Bank has in public statements regarding foreclosure proceedings insisted that all of their procedures were correct and appropriate.  On Wednesday October 27, they did an about face.

Wells Fargo now claims that it plans to correct, redo and resubmit the proper documents in approximately 55,000 foreclosure proceedings. To this writer that seems to be more than a minor mistake.

Wells Fargo claims that after reviewing the situation they found that some bank employees had “failed to strictly adhere to its required procedures during a final step in its documentation process”.   Wells Fargo further stated “some aspects of the notarization process had not always been properly followed creating the potential for paperwork errors.”

No Foreclosure Freeze

Wells Fargo is not freezing its foreclosures. They are amending all 55,000 improper
foreclosures to correct the paperwork mistakes previously made.

In addition to Wells Fargo four other large financial institutions are taking similar actions.  JP Morgan Chase said it was looking into about 115,000 foreclosure proceedings in 41 states. Bank of America is also looking into approximately 100,000 foreclosure proceedings in 23 states. GMAC and PNC financial are also resubmitting improper foreclosure paperwork. Unfortunately when the banks get through with correcting their mistakes the homeowners will eventually have to face the music.  Foreclosure are brought when homeowners do not pay their mortgage payments. In the end the homeowners are thrown out of their homes and their homes are sold. Hopefully there are more inventive, more practical, more humane solutions such as mortgage modifications to this problem.

About Our Firm

For more than 30 years our law firm has assisted individuals with mortgage modifications, foreclosure defense and lawsuits involving creditors. We have expertise in defending homeowners in foreclosure lawsuits.  We have litigated cases involving predatory lending practices. We are also familiar with the issues involving failed mortgage modification programs.  Should you, a friend or family member be involved in a foreclosure. You need a foreclosure defense attorney to represent you.  Our experience in representing individuals in all aspects of foreclosure defense including but not limited to foreclosure defenses and litigating foreclosure issues makes us one of the foremost foreclosure defense law firms in the metropolitan New York area. Feel free to call us for a free consultation at 516-561-6645, 718-350-2802 or 1-800-344-6431. We are available 7 days a week.

Foreclosures Effect Home Prices

The foreclosure mess in the United States is reeking havoc regarding the prices of single family homes. The uncertainty of the status of litigated foreclosure proceedings is depressing the market for single family homes in the United States. The problem with the foreclosure crisis in the United States is getting more and more coverage from the written press, T.V. , radio and internet outlets.

There have been numerous articles, T.V. investigative reports and disclosures concerning short cuts in paperwork and so called “robo signers of affidavits”. The state and federal investigators are now hounding the banks with regard to these procedures.

Coldwell, chief of the home ownership preservation office of the treasury,  has stated “together the two factors many excerpt downward pressure on over all housing prices both in the short and long run”.

States with the greatest concentration of foreclosures are having the most problems with home values. These states include Nevada, Florida, Arizona and California.

Banks Halts Foreclosure Proceedings

Many banks have halted all foreclosure proceedings. What is obvious in this situation is even if the foreclosure proceedings are based on faulty paperwork, the homeowners are not making their mortgage payments. Unless  mortgage modifications or
other actions are taken sooner or later the homeowners will lose their homes.

Bank Mistakes

Many homeowners claim that they have been the victims of bank mistakes, predatory lending and mortgage scams.  Numerous stories have been written about homeowners that have been taken advantage of. However the large majority of homeowners involved in buying homes and obtaining mortgages clearly  understood what they were getting into.  Unfortunately the economy went south, jobs were lost, incomes were reduced and  homeowners found themselves unable to make mortgage payments.

Hopefully banks will cooperate with mortgage modifications and the real estate market in the United States will recover.

About Our Firm

For more than 30 years our law firm has assisted individuals with mortgage modifications, foreclosure defense and lawsuits involving creditors. We have expertise in defending homeowners in foreclosure lawsuits.  We have litigated cases involving predatory lending practices. We are also familiar with the issues involving failed mortgage modification programs.  Should you, a friend or family member be involved in a foreclosure.  You need a foreclosure defense attorney to represent you. Our experience in representing  individuals in all aspects of  foreclosure defense including but not limited to foreclosure defenses and litigating foreclosure issues makes us one of the foremost foreclosure defense law firms in the metropolitan New York area. Feel free to call us for a free consultation at 516-561-6645, 718-350-2802 or 1-800-344-6431. We are available 7 days a week.

General’s Getting Involved In Foreclosure Mess

At this point there have been articles in newspapers, internet sites, magazines and stories on the radio and television about the foreclosure mortgage mess in the United States.  Attorney General’s in all 50 states are now involved in investigations regarding bank practices that have led to the mortgage foreclosure issues that exist in the Unites States. Situations have been uncovered involving various financial institutions where individuals signed affidavits in foreclosure proceedings that they knew nothing about. They alleged in  sworn affidavits to be presented to courts that they were  familiar with and had reviewed the paperwork and files regarding homeowners houses being placed into foreclosure proceedings. The affidavits were lies.  In some cases the individuals signing these affidavits signed as many as 15,000 affidavits in a month. Is would be physically impossible to review that many files.

Loan Modifications

The Attorney General’s hope to use their investigation to force large financial institutions and banks to be more cooperative with regard to working with homeowners concerning loan modifications.

State Action And Not Federal Action

State Attorney General’s have been in the forefront of pressuring banks and other
financial institutions with  regard  to the  problems  involving sub prime lending. The Attorney  General’s in  the  states are  much closer to these proceedings then the federal prosecutors. The states have been  much more aggressive in dealing with  the  issues of predatory lending practices.

About Our Firm

For more than 30 years our law firm has assisted individuals with mortgage modifications, foreclosure defense and lawsuits involving creditors. We have expertise in defending homeowners in foreclosure lawsuits. We have litigated cases involving predatory lending practices. We are also familiar with the issues involving failed mortgage modification programs. Should you, a friend or family  member be involved  in a foreclosure.  You need a foreclosure defense attorney to represent you.  Our experience in representing  individuals in all aspects of foreclosure defense including but not limited to foreclosure defenses and litigating foreclosure issues makes us one of the foremost foreclosure defense law  firms in the metropolitan New York area. Feel  free to call us for a free consultation at 516-561-6645, 718-350-2802 or 1-800-344-6431. We are available 7 days a week.

Dealing With Foreclosure Lawsuits

If your house is in foreclosure there are a variety of  ways to deal  with foreclosure proceedings.  To  start  with, you should hire an attorney and fight the foreclosure proceeding.  The attorney will present to the court a legal defense to the foreclosure proceeding. During the course of litigation you should take the appropriate action to apply for a mortgage modification. Applying for a mortgage modification is not a defense to a foreclosure proceeding.  The large majority of people who apply for mortgage modifications are turned down!!! If you have not hired an attorney to fight the foreclosure proceedings, the  lawsuit will be considered to be unopposed. It will move forward faster through the legal system.  The purpose of the foreclosure proceeding is to sell your home at auction. This will result in you being thrown out of your home.

Elliot S. Schlissel, Esq. was formerly the president of the Commercial Lawyers Conference of  New York.  During that period of  time he represented financial institutions. The knowledge he received in representing financial institutions now is utilized in assisting homeowners who are being sued by financial institutions for foreclosure on their homes. The Law Offices of Schlissel DeCorpo has numerous foreclosure defense cases pending through out the New York metropolitan area.  We have a very high success rate in holding off creditors seeking to foreclose against homeowners.  Call us for a free consultation at 1-800-344-6431, 516-561-6645 or 718-350-2802.

Also Visit – Nassau County Divorce Attorney

Avoid Foreclosure Scams

The foreclosure rate in the United States is at an all time high. There are unscrupulous individuals who are using the foreclosure crisis to take advantage of homeowners who face the loss of their homes in foreclosure proceedings. A variety of scams exist. These scams cause further problems for homeowners. The following are a list of the types of scams that should be avoided:

1. Businesses that advertise with fliers placed in your mailbox or solicit door to door. There are various agencies that represent to homeowners facing foreclosure that they can help them. However some of the solicitations from these foreclosure help agencies not only do not help you in the foreclosure but further scam you out of your hard earned money.

2. You should review documents before you sign them. Sometimes the unscrupulous agencies advise the homeowner they need them to sign documents to authorize the agencies to negotiate for new payments plans with their financial institutions. Some of these documents actually surrender the title (deed) to your house in exchange for “rescue” loans. Do not sign any paperwork unless you have read it carefully or had it reviewed by an attorney that does foreclosure defense work!

3. Be careful about rent to buy programs. There are scam artist out there that will have you send a rental check every month to them. They will claim that they are
negotiating with your mortgage company regarding a refinance. However these rent to buy program scam artists keep your rental money and do not send the funds to your financial institution. Be careful not to sign any documents that deal with the title or deed to your house. Your home should remain in your name! The scam artists will sometimes tell homeowners that by giving up the ownership to your home you can obtain a better credit rating and secure new financing down the road. This is a lie!

4. Hire duly licensed attorneys who handle foreclosure defense cases. The world if full of lawyers. Some lawyers do divorces, some lawyers do car accidents case and some lawyers have experience in handling foreclosure defense. Make sure you are dealing with a licensed attorney in your state that handles foreclosure defense work. Attorneys who have experience handling real estate transactions do not necessarily have the experience to handle litigation involving financial institutions. Choose your attorney carefully!

5. If you have been scammed contact your local bar association for assistance. Local bar associations can provide you with a list of attorney’s that can help you with foreclosure defense and assist you in dealing with problems related to mortgage foreclosure scams.

Visit – Nassau County Divorce Attorney

Foreclosure Defense Lawyer Serving Long Island, Queens, NY

During these turbulent economic times, many families find that they are falling behind on their mortgages. When foreclosure is threatened, it is often thought that there is nothing that can be done to stop the process from moving forward. This is incorrect! We can stop foreclosures. We can tie foreclosures up in court for long periods of time. We sometimes are successful in convincing banks to accept loan modifications and withdraw foreclosure proceedings.

Our New York and Long Island Foreclosure Defense Lawyers have been fighting foreclosure proceedings for three decades. There are several alternatives to dealing with foreclosures. It is important that you contact an attorney at the earliest possible stage when you fall behind in your mortgage to plan what type of measures you will take to deal with a potential foreclosure.

Visit – Nassau County Divorce Attorney

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

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