Foreclosures are Increasing
Foreclosures are increasing.
According to several recent news articles and reports, it appears that foreclosure actions are once again on the rise. Fortunately, we have noticed much of an increase in foreclosure actions being brought. At any rate, this is still troubling news.
Loan Modifications are up.
At least in our office, we have seen an increase in Loan Modifications. Many of our clients have recently received loan modification offers. Many of the offers are for a HAMP trial modification. However, we have received some permanent in-house modification offers.
Each case varies:
- Some cases involved lengthy litigation (years).
- Some cases were resolved in a matter of months.
- Several of our clients had already filed for chapter 7 bankruptcy
- Most, if not all, of our clients were previously turned down for a loan modification.
Note: Prior results do not guarantee a similar outcome.
The Law Firm of Vaughn, Weber & Prakope, PLLC routinely represents homeowners facing foreclosure. We examine each homeowner’s specific situation to determine their best course of action. We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, and Manhattan) with their foreclosure matters.
Call (516) 858-2620 to arrange a FREE consultation with a foreclosure attorney!
Settle Your Second Mortgage
Settle your second mortgage for 10% of the loan amount owed?
Let’s say you owe 90k on your second mortgage and the bank is willing to accept 9k in full satisfaction. Not bad, right? Well, we have heard of such an offer! Generally, we would want to consider any issues or problems with the first mortgage holder. Additionally, among other things, we would want to determine if the Homeowner could and/or should file bankruptcy and “strip-off” the second mortgage. At any rate, such an offer is certainly worthy of careful consideration.
The Law Firm of Vaughn, Weber & Prakope, PLLC, proudly assists residents of Nassau county (Long Island), Suffolk county (Long Island), Queens (New York), and Brooklyn (New York) with their legal matters. Call (516) 858-2620 to arrange a consultation with an attorney!
Eviction Time Frame
Common question:
“Can you give me an eviction time frame?”
We are often asked, by both landlords and tenants, how long it takes to complete an eviction. The best answer we can give is: “The sooner the eviction process is started, the sooner it will be over.” The are numerous things that can speed up or delay the eviction process. Right now, the Sheriffs and Marshalls, who actually execute the “warrant of eviction,” are quite backlogged. This has been adding a considerable amount of time to the eviction process. So, no one can tell you exactly how long the eviction process will take. At the moment, it is even difficult to give someone a “ballpark” time-frame for an eviction from start to finish.
However, there are things that your attorney can do and/or suggest to speed the process up a bit and avoid further delay.
Landlord Tenant Attorney
The Law Firm of Vaughn, Weber & Prakope, PLLC proudly assists Landlords and Tenants in Nassau county (Long Island), Suffolk county (Long Island), Queens (New York) and Brooklyn (New York) with their landlord tenant matters. Call (516) 858-2620 to arrange a consultation with a Landlord Tenant attorney!
How long will my chapter 7 bankruptcy case take to close?
Well, most of our chapter 7 bankruptcy cases take roughly 3 months from case filing until discharge/case closure (Note: Discharge and case closure are not the same thing).
Additionally, when your attorney files his or her chapter 7 bankruptcy cases could add to the length of time you are waiting for your bankruptcy case to close. Some attorneys “batch file” their chapter 7 cases. They hold their chapter 7 cases and file them together on a particular day (i.e. the end of the month). We file our bankruptcy cases as they are ready to be filed. As always, we hope that you found this information helpful.
The Law Firm of Vaughn & Weber, PLLC, proudly assists residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn and Staten Island) with their bankruptcy filings. Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!
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