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The Economy is Slowly Improving, but the Housing Sector is Lacking

But The Housing Sector Is LackingIn recent months, consumer spending in the United States has been increasing. For the seventh month in a row, consumers have been purchasing more goods and services from retailers. Companies have reported higher sales than in 2010.

Housing is Dragging the Economy Down

The real estate sector in the United States is having a negative effect on the United States pulling out of a recession. Although consumer spending has increased, real estate spending is decreasing.

Home builders are still very pessimistic with regard to housing starts in 2011. This year is the worst in nearly fifty years with regard to the amount of new homes being built in the United States.

The National Association of Home Builders recently stated that its index of home builder sentiment remains unchanged as of February, 2011. For the fourth straight month, the sentiment of home builders has been extremely negative.

The American Dream

At one time, the ownership of a single family home was the American dream. For many Americans, this dream has turned into a nightmare. They owe more on their homes than their homes are worth. They are falling behind on their mortgages. They have lost their jobs or are underemployed and are no longer capable of making their mortgage payments. Their children attend schools in their neighborhood and they don’t want to move. This is a dilemma.

The key to an improvement on the real estate market is a reduction in unemployment. If Americans earn more money, they will spend this money on their mortgages. They will buy new homes and modernize their homes. This will give a boost to the housing industry and increase employment in this sector. Unfortunately, this is not happening right now in the United States.

Best Foreclosure Defense Lawyer

If you have a foreclosure problem, we can help you. Our foreclosure defense lawyers litigate defective mortgages, defective foreclosure lawsuits, predatory lending and all other types of real estate related matters. We can explain the federal laws on foreclosure and how they affect you. We attend foreclosure court conferences for our clients.

In the appropriate situation, we will discuss foreclosure related bankruptcy issues, such as filing a Chapter 7 and a Chapter 13 bankruptcy with you. In bankruptcy situations, there is an automatic stay that goes into effect, ordered by the court, that stops foreclosure from moving forward. In some bankruptcy situations, we can eliminate second mortgages. At the end of the bankruptcy, we can assist you in re- establishing your credit.

Feel free to set up a free consultation with us. We will discuss your foreclosure options with you. Thank you for visiting our foreclosure blog.

Foreclosure Notice Rules Must be Complied With

Foreclosure Notice Rules Must Be Complied WithJudge Angiolillo, sitting in the Appellate Division of the Second Department, has ruled that lenders must strictly comply with foreclosure notice rules. In 2008, foreclosure notice rules were enacted to protect homeowners confronted with foreclosure. Judge Angiolillo’s recent ruling requires that these rules be strictly complied with.

Foreclosure Proceeding

Aurora Loan Services sued Mr. Weisblum in a foreclosure proceeding. Justice Angiolillo found that the notice that was provided by Aurora Loan Services to Mr. Weisblum did not “substantially comply” with the requirements of the 2008 statute. The notice required that a minimum of five counseling agencies regarding foreclosure issues had to be provided to homeowners whose mortgages were past due. Justice Angiolillo further stated that the 2008 law, which was modified and expanded in 2010, was to “preserve and guard the precious asset of home equity.” In this case, Justice Angiolillo wrote that the mortgage company had neglected to submit an appropriate affidavit, which showed there was proper service of documents on Mr. Weisblum. Justice Angiolillo wrote for a unanimous panel of the Appellate Division.

Foreclosure Defense In New York

If your house is in foreclosure, we can help you. We’ve been fighting foreclosures for more than two decades. We litigate defective mortgages, defective foreclosure lawsuits, predatory lending, violations of federal laws and other real estate issues. We can help you obtain mortgage modifications and we can counsel you concerning mortgage modification programs that fail to meet your needs.

We also assist our clients with foreclosure related bankruptcies. These bankruptcies can either be a Chapter 7 or Chapter 13 bankruptcy. We will explain to you why filing bankruptcy may be the best route to deal with your foreclosure issues and the types of bankruptcies that are available to you. Filing the bankruptcy stops foreclosure proceedings from moving forward. It also stops other debt collection activities involving credit cards and other debts.

Feel free to schedule a free consultation. We will explain your foreclosure options to you. Thank you for visiting our foreclosure blog.

Foreclosure Abuses

The Attorney Generals in all fifty states have been involved in litigation concerning the foreclosure practices at the largest banks in the United States. When these investigations by the State Attorney Generals were initially announced, homeowners who had been defrauded and abused by financial institutions they placed trust in were expecting justice.

Settlement Proposal

There has recently been a settlement proposal made to America’s largest banks. The Republicans in the United States Senate and House of Representatives feel that the Attorney Generals are asking much too much from the banks. The proposal includes needed reforms. It would require financial institutions and banks to stop foreclosure proceedings while a loan modification is pending. It will also be necessary for the financial institutions to eliminate red tape, simplify the loan modification process, properly fund it and speed it up.

The purpose of this settlement proposal is to shield the financial institutions from future lawsuits involving illegal, improper mortgage and foreclosure practices. Although it is a good idea to have one global settlement with the financial institutions, the settlement should not be too generous. Banks have been involved in numerous improper mortgage and foreclosure practices. They have filed false court documents to speed up foreclosures. They have utilized robo-document signers. They have brought foreclosure proceedings when mortgages have been paid. They have charged excessive fees. They have not provided loan modifications pursuant to the federal loan modification programs. They have had conflicts of interest and they have favored foreclosures over loan modifications.

Bank Misbehavior

Banks have gotten away with bad behavior, which has victimized consumers for much too long. The foreclosure crisis in the United States was caused by greed on behalf of the banks! A settlement concerning the foreclosure abuse by financial institutions should be of a nature as to reform the banking industry regarding mortgage modifications, mortgage and foreclosure practices and rectify the bad past practices.

Foreclosure Defense for New Yorkers

We provide foreclosure defense for New Yorkers. We assist New Yorkers with mortgage modifications and mortgage modifications programs that fail. We file Chapter 7 and Chapter 13 bankruptcies on behalf of our clients. We explain why bankruptcies should be filed to our clients. We deal with re-establishing credit when necessary. We can stop foreclosures from moving forward. We attend foreclosure conferences in the state courts in New York for our clients. We provide foreclosure defense and litigate defective foreclosure lawsuits, predatory lending, real estate issues, bad faith by financial institutions and defective mortgages. We maintain a foreclosure blog which is updated on a weekly basis. Call us should you have foreclosure or bankruptcy problems. We can help you!

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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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

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