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Notable Foreclosure Cases of 2015

foreclosure attorneyThere are two significant foreclosure cases in 2015 which have a broad impact on foreclosure lawsuits. The first of these two cases is Faison v. Lewis. In this case the New York Court of Appeals, the highest court in New York State, held that when bringing a lawsuit to set aside a mortgage due to forgery in the chain of title there is no statute of limitations.

Statute of Limitations Defense

In the Faison case an action was brought by a homeowner to set aside a mortgage claiming the deed was forged. The financial institution involved plead the usual six year statute of limitations defense had passed since the deed was prepared. They also claimed that more than two years had passed since the homeowner discovered the alleged forgery.

The sum and substance of the court’s decision is that a forgery creates no rights with regard to the deed involved. Therefore there is no point in time that limits the challenge to the document. Homeowners who have been involved in transactions involving fraudulent documents applaud the court’s decision. It eliminates time barred defenses of the statute of limitations which can be raised by financial institutions.

United States Supreme Court Case

The second case of importance to homeowners decided in 2015 was the case of Jesinoski v. Countrywide Home Loans. This decision was made by the United States Supreme Court, the highest court in America. In this unanimous decision, the United States Supreme Court decided a significant issue under the Truth in Lending Act (hereinafter referred to as “TILA”). In this landmark decision, the United States Supreme Court held that all that is needed to be done to rescind a mortgage loan was to send a letter within three years from taking the mortgage out requesting the mortgage be rescinded. Up until this decision it was thought the only way to rescind a mortgage under TILA within the three year period was to commence a lawsuit seeking to rescind the loan on the basis of failure to conform to the disclosure requirements of TILA.

Homeowners now, who feel that there has been a violation of TILA by a lending institution, can simply send a letter to the lending institution rescinding the loan. Starting a lawsuit to set aside the mortgage loan is no longer necessary.

Conclusion

The Faison case decided by the New York State Court of Appeals and Jesinoski case decided by the United States Supreme Court in 2015 further increased the arsenal of defenses and actions that can be used regarding defending foreclosure lawsuits. Foreclosure defense lawyers continue to challenge the mistakes, frauds, omissions, false applications, bait and switch tactics, robo-signers, bad assignments, statute of limitations issues, failure to give notice issues, violations of State and Federal laws, violations of banking laws, violations of Truth in Lending Laws, violations of predatory lending laws, and numerous other defenses in helping keeping beleaguered homeowners in their homes. I look forward to continuing with this process.foreclosure defense lawyer

Couple Receives a Million Dollar Award Against Bank of America

foreclosure defense on Long IslandNelson and Joyce Coniglio had received more than 700 collection calls during a 4 year period when they fell behind on their mortgage payments. The Coniglios hired an attorney to try to make Bank of America stop calling them. Unfortunately, this didn’t work. A Federal Judge sitting in Florida recently awarded the Coniglios $1 million dollars related to the “unrelenting phone calls from Bank of America.”

Bank of America had an excuse for the phone calls. Their Senior Vice President, Dan Frahm, said the calls weren’t to collect a debt, but solely to help the couple avoid a foreclosure lawsuit.

Lawsuit Against Bank of America

The Coniglios were forced to file a lawsuit in Federal Court to stop the harassing phone calls from Bank of America. They received a default judgment when Bank of America failed to respond to their lawsuit in a timely manner. The lawsuit stemmed from Bank of America making hundreds of robo-calls to the Coniglios. Sometimes they received as many as 5 phone calls a day. Jason Coniglio, the parties’ son, stated “we would be out to dinner and they would ring my mother’s cell phone, then they would ring my dad’s cell phone and then when we got back to the house, there would be another message on the answering machine.” Their son, Jason, works as a mortgage broker. He diligently tried to help his parents get a mortgage modification. Unfortunately, he could never get anyone from Bank of America to cooperate with him. Their lawsuit was pursuant to the Telephone Consumer Protection Act. The damages were $500 per call and they were tripled. The Coniglios’ attorney stated “the borrowers, the people who own those phones, you do have a right to privacy. And when they say to stop, you have to stop.”

Bank of America had asked the court to reconsider this large award against them. However, the judge denied their request.

Conclusion

When banks misbehave, they can be punished by taking legal action against them.

foreclosure defense lawyer in New YorkElliot Schlissel is a foreclosure defense lawyer. He represents families throughout the Metropolitan New York area who have problems dealing with banks related to mortgage modifications and foreclosure lawsuits.

Understanding How Bank Lawyers Operate in Foreclosure Cases

foreclosure defense attorneys on long islandThe law firms which represent financial institutions in foreclosure legal actions sometimes process thousands of foreclosure cases per year. These law firms are designed to operate efficiently to obtain a maximum profit level on the foreclosure cases they handle. They are most profitable and most successful with regard to their foreclosure litigation when they don’t run into a foreclosure defense lawyer who has a detailed understanding of the legal process involved in foreclosures, the defenses which can be plead and the problems financial institutions have in prosecuting foreclosure lawsuits. It is most profitable for the bank lawyers processing foreclosures when they can move forward with their lawsuit without significant opposition from the homeowners and their counsel.

When my office raises twenty or more affirmative defenses and countersues financial institutions involved in foreclosure lawsuits, it creates numerous problems for the financial institutions and their attorneys. To start with, the bank lawyers go from aggressive moving party to defending their clients’ practices, producing documents and explaining to the court whether all aspects of the mortgage transaction were legal, ethical and appropriate. In numerous cases in which our law firm is involved, we take the banks and their attorneys to task. Sometimes these cases get put aside for years by the bank’s attorneys. In some of the cases the banks simply move to dismiss their own lawsuit.

Mortgage Modifications

By submitting an aggressive, well thought out series of affirmative defenses and counterclaims, the banks are put back on their heals. One of the ways they deal with these cases is by entering into negotiations for mortgage modifications. Sometimes the pressure of an aggressively litigated foreclosure defense results in the bank offering very favorable mortgage modifications as a means of ending the lawsuit.

Conclusion

If you are sued in a foreclosure, hire an experienced, dedicated foreclosure attorney to protect your rights and prevent the financial institution from taking advantage of you.foreclosure advocate for homeowners

California Takes a Tough Stand on Improper Mortgage Practices

Stand On Improper Mortgage PracticesThe Attorney Generals from all 50 states, as well as the Federal Government, have been in negotiations with large financial institutions over their improper and fraudulent mortgage practices. The Justice Department has been trying to work out a settlement with these institutions for almost a year. California is one of the states that has large numbers of homeowners who have had financial problems related to the collapse of the housing market in the United States.

Kamala D. Harris, the Attorney General for the state of California, has pulled out of negotiations with the 49 other states and the Justice Department. She claims that the proposals being circulated to settle with the large banks are inadequate for California homeowners. Although billions of dollars in penalties are being discussed, she feels this would still be inadequate to deal with the problems the large financial institutions have caused California residents.

New York Attorney General With Settlement Proposals

Eric T. Schneiderman, the Attorney General for the State of New York, has been removed from the committee negotiating with the large banks. He was removed from this committee because he was critical of the deals being circulated to settle with the banks. He has recently stated he hopes a resolution can be worked out. It is extremely unlikely that there will be an overall settlement unless California comes back to the negotiating table. “The banks aren’t going to be interested in settling unless it removes future liabilities”, were remarks made by Jeffrey Harte, a bank analyist who works with Sanderler O’Neil.

High Foreclosure Rates in California

Even if there is a settlement, the monies received as part of the settlement would be distributed among the 50 states. California, being one of the hardest hit states, would want a significant portion of the settlement funds. Mrs. Harris has pointed out that during the one year of discussions with the banks, more than five hundred thousand homes in the State of California have gone into foreclosure. California now has eight cities listed among the top ten highest foreclosure rates in the United States.

Foreclosure Legal Help

Are you facing foreclosure? Have you applied for a mortgage modification and been rejected? Have you been served with a summons and complaint in a foreclosure proceeding? If you answer is yes to any of the above questions, you need an experienced, dedicated foreclosure defense lawyer. The foreclosure defense lawyers at the Law Offices of Schlissel DeCorpo have more than 20 years of experience in dealing with foreclosure related problems. We attend foreclosure court conferences on behalf of our clients. We litigate issues such as defective foreclosure lawsuits, predatory lending, defective mortgages and other significant real estate related defenses. We’ve developed an expertise concerning federal laws and foreclosure.

Bankruptcy Lawyers

We can also help you deal with foreclosure-related bankruptcy issues. Filing either a Chapter 7 or a Chapter 13 bankruptcy may be necessary to deal with the foreclosure on your home. If you file bankruptcy, you can eliminate second mortgages in some situations, stop foreclosure, stop other debt collections practices and at the end of the bankruptcy, action can be taken to re-establish your credit. Feel free to call us for a consulation. Our phone numbers are 1-800-344-6431, 516-561-6645 or 718-350- 2802. Thank you for visiting our foreclosure defense blog.

Credit Reports: What You Need to Know

creditForeclosures, bankruptcies, and losses by credit card companies for non-payment of your bills will have an obvious negative impact on your credit score. There are numerous other matters that are taken into consideration by credit agencies concerning credit scores.

Making Minimum Payments on Your Bills

Creditors make a lot of money from consumers who make minimum payments on their credit card bills. However, making minimum payments can have a negative impact on your credit score. Nessa Fedis, the Vice President of The American Bankers Association, states “it suggests you’re under financial stress.” Try to pay more than the minimum amount on your credit card bills. Minimum payments can be interpreted that you’re in financial difficulty.

Co-signing

A friend, family member or child may require you to guarantee their debt. When you co-sign for their debt, their entire debt appears on your credit report. The debt will be considered yours. If the primary obligore under the agreement misses payments or makes late payments, it will have a negative affect on the credit score of the co-signer.

Short Sale of Real Estate

A short sale takes place when the bank agrees to allow the sale of a residence they have a mortgage on for less than the amount due and owing on the mortgage. This causes the financial institution to lose money. This will have a negative impact on your credit score. You should negotiate with the lender prior to the short sale. It is important you request that the lender not report that you paid less than the balance due and owing to the credit agency. If they report to the credit agency that you paid less than the balance due on the note and mortgage, it will have a significant negative impact on your credit score.

Numerous Inquires

When you apply for credit with a lender or other institution, an inquiry is made against your credit report. When the credit agency sees numerous inquiries, your credit score is impacted in a negative manner.

Having good credit is important if you seek to buy a house, obtain credit cards, lease a car or engage in other financial transactions.

foreForeclosure and Bankruptcy

Foreclosure and bankruptcy have a significant negative impact on credit scoring. Bankruptcy can act as an escape valve to prevent the loss of a home, stop foreclosure, eliminate a second mortgage and stop debt collection harassment. Your credit can be re-established after filing either a Chapter 7 or a Chapter 13 bankruptcy One bankruptcy myth is that you will never receive credit again after filing bankruptcy. This is simply untrue.

Should you have questions or issues concerning your financial situation or are considering filing for bankruptcy, feel free to call the Law Offices of Schlissel DeCorpo. We’ve been helping our clients for more than 30 years deal with foreclosure defense and bankruptcy matters. We can be reached at 1-80–344-6431, 516-561-6645 or 718-350- 2802.

Housing Prices on Long Island Decrease

Housing Prices On Long Island DecreaseThe sale prices of homes on Long Island went down in the month of August. This is compared to the price that homes sold for one year ago. The medium sale price for a home in Nassau County was $420,000. This represents a reduction of 4.5 % from last year. The medium sale price for a home in Suffolk County in August of 2011 was $324,000. This was only $1,000 less than that home would have sold for in August of 2010.

A Stabilizing Market

Real estate experts have indicated that the market for single family homes on Long Island is stabilizing. This is another way of saying that the amount of decline in home values is slowly leveling off.

Rock Bottom Prices

Buyers today are looking for rock bottom prices before they will buy a home. Has the market bottomed out? One can never be sure as to what the real estate market is going to do. The major issues involved in the real estate market relate to national and local economic decisions. The unemployment rate has a significant impact on the real estate market. The consensus among families as to the future of their employment prospects impacts on the real estate market. Worries and fears about recessions impact the real estate market. Job security issues have a negative impact on the real estate market. Home values have been going down on Long Island for more than four years. When will the bleeding stop?

Foreclosure Defense and Bankruptcy Lawyer

The Law Offices of Schlissel DeCorpo handles foreclosure defense for homeowners. We litigate all aspects of foreclosure proceedings including, but not limited to, defective foreclosure lawsuits,defective mortgages, predatory lending issues, bad faith, and other real estate legal issues. We attend foreclosure court conferencesfor the clients we represent. We also assist our clients in the preparation of mortgage modification applications, as well as deal with mortgage modification programs that are unresponsive to our clients’ needs.

In certain situations, foreclosure related bankruptcies can be utilized to stop foreclosures from moving forward. Upon filing either a Chapter 7 or a Chapter 13 bankruptcy, the bankruptcy court issues an automatic stay that stops the foreclosure lawsuit from moving forward. It should be noted that bankruptcy proceedings are brought in the United States Bankruptcy Court, while foreclosure proceedings are brought in New York State Courts.

For our clients who file bankruptcy, we can sometimes eliminate second mortgages. We also can assist our clients in re-establishing their credit after filing bankruptcy. Should you have questions as to what type of bankruptcy would be appropriate for you or whether there is other alternatives related to foreclosure defense, feel free to contact us. At your initial free consultation, we will discuss all of your foreclosure options. We look forward to seeing you again on our foreclosure blog.

Banks Delaying Foreclosure Proceedings

Banks Delaying Foreclosure ProceedingsThe number of foreclosures in the Metropolitan New York area has been going down for approximately six months. This has been caused by massive delays in financial institutions processing foreclosure proceedings. Banks and other financial institutions have been hurt by the negative publicity concerning robo signers and improper and illegal foreclosure practices. They are now carefully reviewing each and every case before they send it out to their attorneys to initiate foreclosure proceedings. They are reviewing all of the mortgage related documents in each file to make sure that they have been handled in an appropriate manner before initiating a foreclosure litigation. There were 9% less foreclosures in April of 2011 than in March of 2011. In the United States, there were 219,258 foreclosures initiated during April of 2011. In addition, banks seized 70,000 homes in April. A representative of Reality Trac stated, “the slow down continues to be largely the result of massive delays in processing foreclosures, rather than the result of a housing recovery that is lifting people out of foreclosure.”

Foreclosure Proceedings Taking Longer

Each foreclosure proceeding in New York initiated during the first quarter of 2010 took more than 400 days from inception to completion. This is an increase of 60 days from the 340 days this process had taken in 2009. In 2007, it took approximately 150 days to move forward, from start to finish, with a foreclosure proceeding. As the number of foreclosure proceedings has dramatically increased in New York, the time for these proceedings to make their way through the courts has been increasing. It is estimated that new foreclosure proceedings could take as long as 2 ½ years to be concluded.

Home Prices Falling

Home prices are still falling through most of the country. In April of 2011, home prices fell below the March 2009 levels. This is the lowest point home prices have been in the past two years. Unfortunately, real estate experts do not feel the downward trend in home values will be ending in the near future.

Conclusion

The real estate market in the United States is in a sad state of affairs. Unless the real estate market comes back, the economy in the United States will continue to suffer.

fore1Foreclosure Help

The Law Offices of Schlissel DeCorpo provides foreclosure defense for clients in the Metropolitan New York area. We attend foreclosure court conferences for our clients. We litigate defective mortgages, predatory lending and defective foreclosure lawsuits. We deal with all types of foreclosure and estate problems. We educate our clients concerning foreclosure related bankruptcy proceedings, including Chapter 7 or Chapter 13 bankruptcy filings.

We advise and assist our clients concerning mortgage modifications and how to deal with mortgage modification programs that fail to meet the needs of the public. We can provide you with a free initial interview and we will discuss all of your foreclosure options and how to stop foreclosures from moving forward. Thank you for visiting our foreclosure blog.

Leo Nordine, the Foreclosure King

Leo Nordine, The Foreclosure KingLeo Nordine of California has been referred to “the king of foreclosures.” Leo was a real estate agent in California. He has allegedly closed more than 4,000 real estate transactions. It is claimed that he is involved in over 300 real estate transactions a year. All of these transactions involve foreclosures!

Recent Interview of Leo Nordine

In a recent interview, foreclosure king Leo Nordine was asked about when the real estate market will bottom out. In his response, he stated that he felt the market had already hit a soft bottom. He talked about the slowdown by the Federal Government of the real estate foreclosure process. He claimed the government was slowing down the process to avoid putting the country into a depression.

He was asked if it was a good time for individuals to buy homes. He suggested that, instead of buying a home, individuals should save up their cash for a rainy day. He stated that he felt real estate prices will stay flat for approximately ten years. He suggested only buying a house if you plan on living in it and enjoying it. He suggested it would not be a good investment. He felt that for the real estate market to recover, the economy as a whole must first recovery.

Nation of Renters

Leo suggested that in the future a greater portion of the population of the United States will be renters, and not owners, of real estate. He claimed that the government had encouraged the American dream of the ownership of a single family home. He suggested that families should dream of renting in the future.

How To Sell a House Today

When Leo was questioned as to how to sell a home in the current real estate market, he suggested to make it as empty as possible. The house should be clean, bright and, most importantly, priced realistically! He stated that if the house isn’t priced to sell, no one will buy it!

New York Foreclosure Lawyer

If your home is in foreclosure in the Metropolitan New York area, we can help you. Our law office has been providing foreclosure defense for our clients for more than twenty years. We litigate defective mortgages, predatory lending and defective foreclosure lawsuits. We make court appearances for our clients and attend foreclosure court conferences. We assist our clients with mortgage modifications and mortgage modification programs that fail to meet consumers needs.

We discuss foreclosure related bankruptcy filings. This filing can either be a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. Upon filing either of these bankruptcies, the Federal Bankruptcy Court issues an automatic stay that stops foreclosure proceedings in their tracks.

Call us for a free consultation. We will discuss all of your foreclosure options. Thank you for visiting our foreclosure blog.

Military Divorces Being Investigated by the Justice Department

Justice DepartmentThe Service Members Civil Relief Act prevents financial institutions from bringing foreclosure proceedings against individuals in the United States Armed Forces. The Justice Department is currently investigating allegations that a division of Morgan Stanley that handles mortgages improperly foreclosed on more than twenty-four military families between 2006 and 2008, in violation of the Service Members Civil Relief Act.

Service Members Civil Relief Act

Pursuant to the Service Members Civil Relief Act, a court must be convened and a Judge must hold a hearing before a foreclosure can be initiated. At the hearing, the member of the Armed Services can be represented by an attorney. The lender must obtain a court order to move forward with foreclosure proceedings.

Sargeant James B. Hurley

Sargeant Hurly was stationed in Iraq. In December of 2005, he returned to his home in Hartford, Michigan. What he found shocked him. His home had been foreclosed and sold to someone else. He brought a lawsuit against Sackson Mortgage Service, which is a sub-division of Morgan Stanley. He claimed that his home had been foreclosed and sold at auction in violation of the Civil Relief Act. Sackson eventually settled the case with him by paying him monetary damages in an undisclosed amount. There are currently approximately twenty-two other cases pending against Sackson. It is claimed in each of those cases that they improperly foreclosed on homes of individuals in active duty in the military service of the United States.

service1Foreclosure Help

Our law office helps individual whose homes are being foreclosed. We litigate foreclosure proceedings involving defective mortgages, defective foreclosure lawsuits, predatory lending and other real estate related issues. We attend foreclosure court conferences on behalf of our clients. We also represent clients in the preparation of mortgage modifications and we deal with mortgage modification programs that fail to meet our clients needs. We litigation foreclosure bankruptcy issues. We file either Chapter 7 bankruptcies or Chapter 13 bankruptcies on behalf of our clients when we feel this is an effective strategy to deal with their financial situation. We provide our clients with a thorough education as to what their foreclosure options are. Feel free to call us at your earliest convenience for a consultation. Thank you for reading our foreclosure blog.

SWAT Team Removes Squatters From Foreclosed Home

In Naples, Florida, a group of squatters moved into a foreclosed home that was empty. The Naples Police Department called in a SWAT team in March of 2011. The SWAT team gassed the foreclosed home to try to force the squatters out. Three adults and two children were removed from the home. The two children, ages 2 and 3, were taken by the Florida Department of Children and Families.

A neighbor who was interviewed by NBC news said, “it makes me so sad, it gives me chills. This is a quiet neighborhood. This is the only house we have here that’s in foreclosure.”

Foreclosed Empty Homes Can Cause Problems

If there are homes in your neighborhood that have been foreclosed upon and are currently empty, these homes can become the target for squatters to move into. There are several things neighbors can do to prevent incidents of squatters in empty foreclosed homes in your neighborhood.

Having a Home Look Like It Is Occupied

Simply parking your car in front of the home can have an impact on potential squatters to stay away. Helping out by cutting the grass gives the home a lived-in look.

Foreclosure Lawyers

Our law firm helps families whose homes are in foreclosure. We provide foreclosure defense litigation services including, but not limited to, preparing mortgage modifications, litigating defective mortgages, defective foreclosure lawsuits and predatory lending issues. We attend foreclosure court conferences on behalf of our clients and we provide information concerning all foreclosure options to our clients. We provide foreclosure related bankruptcy legal services, including filing Chapter 7 and Chapter 13 bankruptcies. The filing of these bankruptcies has the immediate effect of stopping foreclosure. In some instances, we can eliminate second mortgages and help our clients re-establish credit. Thank you for reading my foreclosure blog.

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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