Foreclosure Help

Foreclosure HelpThe ownership of a single family home is the American dream. A foreclosure in effect destroys that dream. Families facing foreclosure are apprehensive with regard to how they will deal with this situation. The threat of having your home sold and being forced out of your home is not something a family looks forward to. However, when a bank initiates a foreclosure lawsuit the homeowners have an opportunity to present their case in front of a judge. Since the foreclosure crisis laws have been enacted in New York State to encourage good faith settlement negotiations between financial institutions and homeowners. It gives homeowners an opportunity to consider all forms of loss mitigation. This includes having the homeowners obtain a reasonable mortgage modification.

Chapter 13 Bankruptcy

Bankruptcies are brought in federal courts. Upon filing of a Chapter 13 bankruptcy the federal bankruptcy court issues a stay stopping all legal proceedings in the state court. The state court foreclosure action is frozen. Your house will not be sold. A Chapter 13 bankruptcy allows you to reorganize your finances, establish a plan to catch up on your mortgage and it keeps you and your family in your home.

Stopping the Foreclosure from Moving Forward

While the homeowner is pursuing loss mitigation options including obtaining a mortgage modification, the foreclosure lawsuit must also be dealt with. This will require the homeowner to retain experienced legal counsel to put in an answer to the summons and complaint. The summons and complaint must be responded to in 20 days if the homeowner is personally served or 30 days if they are served by any other means other than having the summons and complaint put in their hands. If the homeowners do not put a written response in to opposing counsel and file that response with the court within a timely manner the lender will be able to obtain a default judgment against the homeowner. This means the homeowner will lose their opportunity to deny the allegations and pursue their claims against the financial institution. A default judgment will have the impact of reducing the time frame the homeowners have to pursue alternatives to the sale of their home and the homeowners being forced from their home.

Foreclosure Strategies

The best way to deal with a foreclosure litigation is take an aggressive posture. This means not only responding to the allegations in the complaint but counter-suing the financial institution to set the mortgage aside. This type of action gives the homeowners some leverage during the course of the mortgage modification process.

Attorney Elliot Schlissel

Conclusion

If you are facing foreclosure it is strongly recommended your retain an experienced foreclosure defense law firm as soon as you are served with paperwork staring the foreclosure lawsuit.

Elliot S. Schlissel, his partner Nathan D. DeCorpo, and his associates, having been fighting foreclosure lawsuits throughout the Metropolitan New York area for more than 45 years. The firm maintains offices in Nassau, Suffolk and Queens Counties and can be reached at 800-344-6431 or by e-mail at Elliot@sdnylaw.com for the purpose of setting up a free consultation regarding foreclosure issues.

Predatory Lending

Predatory Lending

Predatory lending refers to misleading, fraudulent and/or unfair mortgage practices that financial institutions sometimes engage in during the loan origination process. When financial institutions engage in these practices it can create loan terms with the homeowners which are unreasonable and benefit the financial institution at the expense of the homeowner. Predatory lending involves practices which take advantage of the homeowner and financially benefits the lender.

Low Income Borrowers, Minorities and the Elderly

Low income borrowers, the elderly and minorities are more often at risk for predatory lending practices involving subprime loans than other potential homeowners. Sometimes predatory lending involves charging excessive and unnecessary fees and expenses. In other situations, predatory lenders may add on unnecessary insurance to the cost of the mortgage loan. Excessive pre-payment penalties also are a type of predatory lending practice.

Victimized by a Predatory Lending Institution

If you and your family have been victimized by predatory lending practices you may be entitled to legal relief. It is strongly suggested you contact a foreclosure lawyer to review the circumstances involved regarding your mortgage and advise you whether you have a basis for legal action to deal with this issue.

Attorney Elliot Schlissel

The law office of Schlissel DeCorpo LLP has been litigating predatory lending issues and other foreclosure defenses for more than 45 years. We offer free consultations and can be reached at 516-561-6645, 718-350-2802 or 631-319-8262. We can be e-mailed at Elliot@sdnylaw.com.

VIDEO: Home Sold When It Wasn’t Supposed to Be Sold

Elliot discusses a case in which a home was sold when it wasn’t supposed to be.

Predatory Lending as a Defense in Foreclosure Proceedings

Notice of Foreclosure and House Keys

Predatory lending refers to a variety of unfair or deceptive practices sometimes engaged in by financial institutions. Financial institutions that engage in predatory lending often target low income individuals, the elderly, and minority individuals who are concerned they will not be able to secure a mortgage. Predatory lending is against the law in the State of New York.

Tactics Used by Predatory Lenders

There are a variety of indicators that an individual has been a victim of predatory lending. The following is a list of some predatory lending tactics:

  • Guaranteed loan approvals without credit checks;
  • Pressuring homeowners to sign documents without giving them enough time to carefully review these documents;
  • Door-to-door solicitations.

Predatory Lending a Defense to Foreclosure Cases

If you have been the subject of predatory lending you may have a legal defense in the event your home goes into foreclosure. The courts in New York have dismissed foreclosure cases based on lenders being involved with predatory lending tactics. The New York Banking Law prohibits lenders from engaging in: “High cost home loans”.

Fighting Predatory Lending Mortgages

Attorney Elliot Schlissel

The foreclosure lawyers at of Schlissel DeCorpo LLP for more than 3 decades have been representing homeowners who have been the subject of predatory lending. Feel free to contact our Nassau, Suffolk or Queens offices at the following phone numbers to discuss your situation: 516-561-6645, 631-319-8262 and 718-350-2802. My e-mail address is: Elliot@sdnylaw.com.

Foreclose Action Dismissed and Mortgage Cancelled!

People negotiating a contract.

In a case from upstate New York Justice Phillip Rumsey sitting in the Supreme Court entered an order dismissing a foreclosure lawsuit brought by Citibank. In addition, he removed the mortgage from the homeowners’ property.

Citibank had initiated a foreclosure lawsuit against the Bravos. The homeowners claimed as their defense that Citibank did not have standing to bring this lawsuit because they were not the holder of the note on their property. Justice Phillip Rumsey had granted an order precluding Citibank from offering any evidence at trial of the homeowners’ indebtedness. In addition, he also precluded them from offering evidence they were the current holder of the note.

Citibank Appeals

Citibank brought an appeal to the Appellate Division. The Appeals Court found that Citibank had engaged in a pattern of conduct giving rise to an inference of willfulness sufficient for Judge Rumsey to impose a preclusion sanctions order.

The Homeowners Strike Back

Attorney Elliot SchlisselThe homeowners thereafter moved for summary judgment dismissing Citibank’s foreclosure lawsuit and they asked that the court discharge and cancel the mortgage by Citibank against their property. The homeowners claimed the preclusion order would prevent Citibank from establishing evidence necessary to allow Citibank’s foreclosure to move forward. Justice Rumsey noted the defendants’ argument was correct. Citibank would be prevented from establishing the material elements necessary in their mortgage foreclosure case. They could not establish their ownership of the debt.

Justice Rumsey granted the homeowners’ summary judgment motion and dismissed the foreclosure lawsuit. In addition, he granted the homeowners’ request for an order removing the mortgage from their home.

Conclusion

Justice Rumsey is a judge from upstate New York who punishes banks who act improperly in their dealings with homeowners regarding their mortgages.

Foreclosure Sale Set Aside

House for sale

In a case in Westchester County Justice Lawrence Ecker, sitting in a Supreme Court foreclosure part, ruled due to a mistake a party’s home was sold and the sale should be set aside.

Referee Sells the Property

The sale of the property was conducted by a Referee. The homeowner had spoken to the bank’s lawyer and was under the impression the sale was not going to move forward. However, the sale did move forward and the referee sold the property to the successful bidder. The bidder provided the referee with a deposit. However, a deed was not yet provided to the successful bidder.

Communication Issues

Justice Ecker found the mistake was not related to a one-time communication. There had been communications over a two-month period and the homeowner’s attorney was assured the scheduled sale would not be moving forward. The reason for the sale not moving forward was the bank had acknowledged the homeowner had completed all the steps required for the reinstatement of the mortgage.

Justice Ecker found as a matter of equity and good conscious, the sale should be set aside. Justice Ecker also ruled the purchaser should be entitled to a refund of his deposit plus interest.

Attorney Elliot Schlissel

Conclusion

Even after a home is sold it is still possible to bring a motion to the court where the foreclosure lawsuit is pending, to set the foreclosure sale aside if good cause can be presented to the court.

Foreclosure Case Dismissed

House keys and foreclosure notice

In a case in Orange County, New York before Supreme Court Justice Maria Vasquez-­Doles a foreclosure lawsuit was commenced against homeowners. Aschmoneit was the only defendant who submitted a written answer to plaintiff’s summons and complaint. Foreclosure conferences were scheduled and plaintiff’s counsel appeared at the conferences. He stated he was unable to obtain an affidavit of merit from the plaintiff for the purpose of making a timely application for a summary judgment motion. Justice Vasquez-Doles as a result of counsel’s statement dismissed the lawsuit. Thereafter plaintiff moved to vacate the dismissal and asked for a summary judgment against Aschmoneit, the defendant.

The original lender on this case was First Federal Savings and Loan Association. Counsel for the plaintiff claimed the dismissal by Judge Vasquez-Doles was improper because an attorney for the plaintiff has appeared at the foreclosure court conference and therefore the court did not have the discretion at that conference to dismiss the case.

Bank’s Arguments Without Merit

Judge Vasquez-Doles found plaintiff’s counsels argument to be meritless. In her decision she stated at foreclosure mediation court conferences counsel for plaintiff has to both appear and be ready to proceed. In this situation plaintiff’s counsel failed to obtain/an affidavit of merit from his client. He therefore could not make a timely motion for summary judgment. She further went on to hold the dismissal was proper. There was no documentary evidence of the assignment of the mortgage provided to the court. The financial institution could not show they had a meritorious claim against Aschmoneit. Aschmoneit should have received a copy of the certificate of merit from counsel for the plaintiff when she was served with the summons and complaint. Since she was not served with this document, the dismissal of the case was correct.

Conclusion

Attorney Elliot Schlissel

Foreclosure cases can be dismissed based on the financial institution’s attorneys’ failing to comply with the myriad of rules, regulations, statutes and court ordered responsibilities they have.

Elliot S. Schlissel and his associates have been representing homeowners sued in foreclosure cases for more than 3 decades.

Evictions After Foreclosure Sales

Eviction notice and gavel on a table.

An individual or corporation that purchases a property at a foreclosure sale can bring a landlord/tenant proceeding to evict the individuals who reside at the residence.

Exhibiting the Deed

Before bringing a landlord/tenant proceeding the owner of the property which was purchased in a foreclosure sale must deliver a copy of the deed to the residents of the dwelling showing they purchased the property. The copy of the deed served on the individuals residing in the premises must be a certified copy.

10 Day Notice to Quit

Prior to bringing the landlord/tenant eviction proceeding, the individuals residing in the house must receive a 10 day notice to leave the premises. In the event a copy of the deed is not properly served on the individuals residing in the house, the landlord/tenant case and 10 day notice are defective and an application can be made to the court to dismiss the Attorney Elliot Schlissellandlord/tenant proceeding based on this defect.

Elliot S. Schlissel and his associates are foreclosure attorneys. They defend homeowners whose homes have gone into foreclosure, they provide legal assistance in obtaining mortgage modifications and, if necessary, they also can file bankruptcy for you to stop the foreclosure from moving forward.

Happy Halloween!

Happy Halloween!

Penalizing Banks for Foreclosure Irregularities

Wells Fargo and Company, the fourth largest bank by assets in the United States, Bank of America, the largest lender in the United States and Citigroup the third largest

8lender in the United States expect to be sanctioned by the United States government for bad foreclosure practices.

These banks are accused by federal regulators of abusing borrowers and illegally foreclosing on homes. A federal probe has been underway for many months. Federal investigators have found widespread deficiencies in the manner in which home loans are serviced, payments are collected, how loan modifications are processed and the foreclosure process itself on loans.

Banks to Be Penalized

Wells Fargo, Bank of America and Citibank have all been accused of improper and illegal foreclosure practices. There have been reports that federal regulators may demand as much as thirty billion dollars from some 14 mortgage companies regarding improper foreclosure and mortgage practices.

Bank of America is responsible for the most mortgage loans in the United States. It handles 2.1 trillion dollars in home mortgages. Bank of America besides being investigated by federal regulators has been subject to a variety of private lawsuits concerning their mortgage foreclosure practices. Bank of America had temporarily suspended all foreclosure proceedings in 2010 to conduct a review and investigation of its foreclosure and mortgage practices. Bank of America has recently re-instituted foreclosure proceedings. They claim they have dealt with all of their internal problems concerning the processing of mortgages and handling of foreclosure.

Long Island Foreclosure Defense Lawyers

If your home is in foreclosure or you need a mortgage modification we can help you. The Law Offices of Schlissel DeCorpo have been assisting consumers and homeowners with problems concerning debts to financial institutions for more than two (2) decades. We prepare mortgage modification documents. We can help deal with mortgage modification programs that fail to meet the consumers needs. If you are in foreclosure, we will attend foreclosure court conferences on your behalf.

We litigate defective foreclosure lawsuits, predatory lending issues, defective mortgages, bad faith on behalf of financial institutions, and other related real estate proceedings.

In situations where we feel a filing of a Chapter 7 bankruptcy or Chapter 13 bankruptcy is appropriate we file these proceedings with the United States Bankruptcy Court on behalf of our clients. We also assist our clients in reestablishing credit after filing for bankruptcy. We can help stop foreclosure in its tracks. Call us for a free consultation at 1-800-344-6431, 516-561-6645 or 718-350-2802.

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

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.

This is attorney advertising. This website is designed for general information purposes only. The information presented on this website shall not be construed to be legal advice. If you have a legal problem you should consult with an attorney.

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