NYC’s Worst Landlord Watch List
Before you rent your next apartment, you may want to check out Public Advocate Bill de Blasio’s new website:
Press release: “Public Advocate Bill de Blasio today unveiled a new website that exposes the landlords behind some of the city’s most dangerous and dilapidated buildings. The Public Advocate’s NYC’s Worst Landlords Watch List is the first resource allowing tenants to look up a current or potential landlord by name and see code violations for other buildings the landlord owns. The Watch List is available online at advocate.nyc.gov/landlord-watchlist.”
Visit our Landlord-Tenant category to learn more about Landlord-Tenant issues.
NYC Landlord Tenant Attorney
As always, The Landlord-Tenant Law Firm of Vaughn, Weber & Prakope, PLLC is here to assist you. Contact us at (516) 858-2620 to arrange a consultation with a Landlord-Tenant attorney.
Bank won’t modify my mortgage, how can I use the chapter 7 bankruptcy I just filed to avoid foreclosure?
The following are “some” of the things you can do to avoid foreclosure if you just filed a chapter 7 bankruptcy:
“Maybe” filing a “chapter 20” bankruptcy, which is a chapter 7 followed by a chapter 13, will help you.
- make sure the ch. 7 discharge is granted;
- some time after discharge is granted in the 7, but before the sale date of course, file a ch. 13 to force the lender to accept the current payment + the arrears spread over 36 or 60 months.
- Note: There likely won’t be a discharge at the end of the Chapter 13. This really shouldn’t matter because you just received a chapter 7 discharge.
- Note: You should consider “stripping off” any judgment and/or wholly unsecured liens.
- Note: If this is investment property you can try to cram it down in a ch.13. However, the cramdown value has to be paid off by completion of the ch. 13 plan.
If none of the above will work, you could:
- After discharge, continue trying to obtain a loan modification from your lender (the foreclosure action will likely continue unopposed).
- Contest the foreclosure action in state court after the stay is lifted or terminates.
- Note: You may be able to defend the foreclosure even if a default judgment has been entered against you(see our earlier post “Fighting foreclosure after default judgment.”)
This is not legal advice!
The Law Firm of Vaughn & Weber, PLLC routinely represents homeowners facing foreclosure who have already filed or need to file for bankruptcy. 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.
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.
Am I Eligible For A Foreclosure Settlement Conference?
Generally, you are eligible for a Mandatory Foreclosure Settlement Conference if:
- The foreclosure action was commenced against you after February 13, 2010, OR
- Your case was commenced between September 1, 2008 and February 13, 2010, and involves a subprime, high-cost or nontraditional loan, and
- The property is 1-4 family home or condominium, and
- You occupy the property as your principal place of residence.
The court is required to schedule the mandatory foreclosure settlement conference within 60 days after you have been served with the foreclosure summons and complaint. Even where a settlement conference is not mandatory, you or your attorney may request one.
IMPORTANT: Please note that the scheduling of a foreclosure settlement conference does not relieve you of your obligation to respond to the plaintiff’s summons and complaint in a timely manner (see our earlier post “Foreclosure Summons and Complaint“).
As always, The Long Island 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.
Exempt Property
What is Exempt Property?
Exempt property is property that is protected by law from the claims of creditors. However, if exempt property has been pledged to secure a debt or is otherwise encumbered by a valid lien or mortgage, the lien or mortgage holder may claim the exempt property by foreclosing upon or otherwise enforcing the creditor’s lien or mortgage. In bankruptcy cases, property may be exempt under either state or federal law. However, NY has opted out of the federal law exemptions. Exempt property typically includes all or a portion of a person’s home equity, motor vehicle equity, household furniture and personal effects.
What Will Happen to My Non-Exempt Property If I File Bankruptcy?
Non exempt property is part of your bankruptcy estate and is subject to sale by the bankruptcy trustee (the debtor is entitled to receive any exempt portion of the sale proceeds). However, even if your property is not fully exempt, you may be able to keep it if you pay its non-exempt value to your creditors in a chapter 13 bankruptcy. Also, you could agree to pay the trustee an amount that would allow you to, in essence, buy back the non-exempt property. The money that you pay to the trustee will be distributed to your creditors. You may also be able to “trade” exempt property for non-exempt property. Essentially, you allow the trustee to take and sale exempt property to avoid losing non-exempt property. There are additional options available. A knowledgeable bankruptcy attorney will be able to assist you with “exemption planning .”
Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!
Please visit our Bankruptcy category to learn more about filing bankruptcy.
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