Yes.
Why?
Because the longer you wait to file bankruptcy, the more difficult it may be to save your home.
But the bank might modify my mortgage.
Sure, but what if the bank doesn’t modify your mortgage. While you wait for a potential loan modification – your mortgage arrears and the interest are piling up. This could potentially prevent you from putting forth a confirmable chapter 13 plan.
NY bankruptcy law just got better.
On 1/21/11 new bankruptcy exemptions go into effect (see our earlier posts Changes to NY Bankruptcy Exemptions and Federal Bankruptcy Exemptions & NY).
You should at least consult with a knowledgeable bankruptcy attorney to find out how filing bankruptcy can save your home (see our earlier posts Filing Bankruptcy to Save Your Home From Foreclosure and How Can I Use My Ch.7 Bankruptcy to Avoid Foreclosure).
We understand that bankruptcy is not for everyone. That is why we also offer foreclosure defense, debt negotiation, etc. We are simply stating that bankruptcy is an option that should be considered. At The Law Firm of Vaughn & Weber, PLLC, we don’t push our clients to file bankruptcy. We give you all of your options and assist you in deciding which course of action is best for you.
This is not legal advice!
The Law Firm of Vaughn & Weber, 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, Manhattan) with their bankruptcy and foreclosure matters. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., Ste. 208, Mineola, NY 11501.
Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy and foreclosure attorney!
Please visit our Foreclosure category to learn more about foreclosure issues.
Please visit our Bankruptcy category to learn more about filing for bankruptcy.
In the following video Justice Schack, a NY Supreme Court Judge, and others discuss and provide examples of faulty foreclosure paperwork:
PBS Video: Faulty Paperwork Prompts Foreclosure Investigation
As always, The Foreclosure Defense Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island, at 217 Willis Avenue in Mineola, NY 11501. Contact us at (516) 858-2620 to arrange a FREE consultation with a foreclosure defense lawyer.
Please visit our Foreclosure category to learn more about foreclosure issues.
Are foreclosures being halted in NY?
Foreclosure defense is a large part of our law practice. We are currently defending foreclosures brought by GMAC, Chase, Bank of America, Wells Fargo etc. For the most part, we have not seen much evidence of these lenders suspending current foreclosure actions. They are still opposing our motions, replying to our answers, and having counsel attend the Mandatory Foreclosure Settlement Conferences on their behalf.
However, we have had several recent loan modification offers, requests for adjournments, and at least one major lender is attempting to discontinue their foreclosure action against one our clients. We were able to achieve the foregoing results by raising and vigorously litigating the “faulty/fraudulent paperwork” that is a part of many foreclosure actions.
So, we know what the headlines say, but we have YET to receive any calls from any lenders or their attorneys saying “Hey, we are discontinuing all of our foreclosures in NY.” We look forward to that day, but until then, we will keep raising the issues and fighting for our clients.
As always, The Foreclosure Defense Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island, at 217 Willis Avenue in Mineola, NY 11501. Contact us at (516) 858-2620 to arrange a consultation with a foreclosure defense lawyer.
Please visit our Foreclosure category to learn more about foreclosure issues.
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