Renewal Lease
Section 2523.5(a) of the NY Rent Stabilization code provides the following in pertinent part:
On a form prescribed or a facsimile of such form approved by the DHCR, dated by the owner, every owner, other than an owner of hotel accommodations, shall notify the tenant named in the expiring lease not more than 150 days and not less than 90 days prior to the end of the tenant’s lease term, by mail or personal delivery, of the expiration of the lease term, and offer to renew the lease or rental agreement at the legal regulated rent permitted for such renewal lease and otherwise on the same terms and conditions as the expiring lease. The owner shall give such tenant a period of 60 days from the date of service of such notice to accept the offer and renew such lease….
Landlord Tenant Attorney in Mineola
As always, The Law Firm of Vaughn, Weber & Prakope, PLLC is here to assist you with your Landlord-tenant matters. We are conveniently located in the heart of Nassau County, Long Island. Contact us at (516) 858-2620 to arrange a consultation.
This is information that we provide to our bankruptcy clients, but others may find it useful as well.
First, beware of credit repair companies that claim they can magically erase derogatory entries from your report. No one can erase derogatory information from your credit report if the information is accurate and properly reported. However, if there is old or inaccurate information on your credit report, you can correct it yourself for free. Here is how:
A few months after your bankruptcy case is discharged, you should obtain a copy of your credit report. You can obtain a free credit report every twelve months by going to www.annualcreditreport.com or call 1-877-322-8228.
You should examine your credit report tradelines and dispute any improper or inaccurate entries. You should note any of your discharged debts that are being reported as something other than “discharged” (ask your bankruptcy attorney how specific pre-filing and discharged debts should be reflected on your credit report).
Your dispute can be filed online or in writing. Your credit report will contain detailed instructions on how to dispute inaccurate/improper information. The credit bureau will conduct an investigation and should remove the incorrect information. This, in turn, should have a positive impact on your credit score!
As always, The Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island. Contact us at (516) 858-2620 to arrange a Free bankruptcy consultation.
Rent Stabilization Rules
Under certain circumstances, the Rent Stabilization rules (Rent Stabilization Code) allows a landlord to recover a stabilized apartment for personal use.
In a recent case, Nestor v. Britt, 2012 NY Slip Op 22034 – NY: Appellate Term, 1st Dept. 2012, the court stated the following:
We agree, essentially for reasons stated by Civil Court, that petitioner-landlords are barred from maintaining the within owner use holdover proceeding based upon their demonstrated failure to comply with the equivalent housing requirements of Rent Stabilization Code (9 NYCRR) § 2524.4(a)(2). The cited Code section requires a landlord seeking to recover a stabilized apartment for personal use to offer an elderly or disabled tenant “lawfully occupying” the unit “an equivalent or superior housing accommodation at the same or lower regulated rent in a closely proximate area.” As the motion court properly recognized, the landlords’ offer to the elderly tenant of any number of unregulated “market” apartments did not satisfy their statutory obligation to offer tenant “an equivalent or superior housing accommodation at the same or lower regulated rent” (emphasis added) (Code § 2524.4(a)(2); see Rent Stabilization Law [Administrative Code of City of NY] §26-511[c][9][b] [“same or lower stabilized rent”), a requirement which plainly presupposes that the proposed alternative housing unit itself be covered by rent stabilization.
Mortgage Servicing Settlement
The following Excerpts are from a recent Press Release by NY Attorney General Eric Schneiderman regarding mortgage servicing settlement:
A.G. SCHNEIDERMAN SECURES $136 MILLION FOR STRUGGLING NEW YORK HOMEOWNERS IN MORTGAGE SERVICING SETTLEMENT
After Schneiderman’s Persistence, Narrow Settlement Preserves Sweeping Legal Claims For Housing Crisis Misconduct That Has Not Yet Been Investigated
New York To Receive More Per Underwater Borrower Than Any Other State, Plus Loan Modifications, Principal Reductions
Schneiderman: Civil & Criminal Investigations Will Continue As We Seek Accountability For Those Responsible For Crisis And Leverage Greater Relief For Homeowners
New York’s estimated share of the guaranteed cash payments in the settlement is $136 million, the fourth highest in the nation. New York will be able to distribute these funds to legal aid, homeowner assistance and advocacy organizations to help distressed individuals facing foreclosure or servicer abuse.
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Because of the complexity of the mortgage market and this agreement, which will be performed over a three-year period, borrowers will not immediately know if they are eligible for relief. It will take between 30-60 days to appoint a settlement administrator, and banks will be conducting a vigorous search to identify eligible borrowers and this may take several months.
For loan modifications and refinance options, borrowers may be contacted directly by one of the five participating mortgage servicers.
For payments to foreclosure victims, a settlement administrator designated by the attorneys general will send claim forms to eligible persons (You may be eligible if you were foreclosed on between January 1, 2008 and Dec. 31, 2012)
Even if you are not contacted, if your loan is serviced by one of the five settling banks, you are encouraged to contact your servicer to see if you are eligible—keeping in mind that it will take anywhere from six to nine months to be contacted.
Bank of America: 877-488-7814
Citi: 866-272-4749
Chase: 866-372-6901
GMAC: 800-766-4622
Wells Fargo: 1-800-288-3212For more information on today’s agreement, visit:
www.ag.ny.gov
www.NationalMortgageSettlement.com
www.HUD.gov
www.DOJ.gov
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