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.
So, you want to evict your tenant.
Is there a lease? Has it expired? Month-to-month? Rent stabilized/controlled? Legal/illegal apt? Section 8 tenant? Multiple family dwelling? Which County?…..all important questions.
Generally, you will be bringing a Non-payment or Holdover proceeding:
Lease exists, but tenant not paying
In a Non-payment action the Landlord needs to make a “rent demand” (usu. 3 day notice and can be made orally, but see what the lease says). Landlord can file the petition and notice of petition for non-payment if no rent paid by day #4. You will have to have the tenant(s) properly served with the petition and notice. Usually, if tenant pays, tenant stays!
Expired lease or month-to-month tenancy
In a Holdover action you may have to have the tenant(s) properly served with a “30 day notice to quit.” This can be tricky . You will file a holdover petition and notice of petition and have tenant properly served with same.
The above is far from complete. We are just trying to give you some insight. Hope it helps. Good luck!
Visit our Landlord-Tenant category to learn more about Landlord-Tenant issues.
As always, The Long Island Landlord-Tenant 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 Landlord-Tenant attorney.
“We would like to talk with you about the possibility of selling your home for less than the amount you owe. If we agree on a lower sale price and a few other terms and you sell your house for that amount before foreclosure, you will get $20,000.”
That is what it states in a letter sent from Chase to a homeowner facing foreclosure. On its face, this does not appear to be a bad offer for troubled homeowners. Of course, we, as attorneys, would want to know what the ‘few other terms’ are before advising a homeowner regarding this program.
We understand that short sales are not the best course of action for some homeowners facing foreclosure. However, If this is a legitimate program offered by Chase, it could make short sales a lot more desirable for troubled homeowners.
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 at 217 Willis Avenue in Mineola, NY 11501. You can contact us at (516) 858-2620 to speak with an attorney.
Thanks for stopping by. All the best!
Recently our office has been receiving an increased number of calls from Landlords seeking to evict tenants and who have started the process themselves. There are however issues that arise when the eviction process is started without the guidance of an attorney. First of all, there are certain guidelines that have to be followed regarding the time of notice given. Rules pertaining to service of this notice are also not the same in every county. If the service of such notice is untimely, the Landlord will be forced to start over.
Another issue is the language necessary for such notice to be valid. Omitting necessary language can lead to delays in the eviction process as well. Again, having some insight as to the requirements in each specific county will help.
There are several other issues that I choose not to bore you all with. The number one reason Landlords have told us that they chose to try to do their own Notice, was to save money on legal fees. In all honesty, the 30-day Notice is not a large portion of a fee for an eviction. It is certainly not worth the cost to the Landlord that delaying the eviction will cause. As with a lot of legal documents, this Notice can be done on your own. But, it will cost more in the long-run if you do it incorrectly and it needs to be fixed. Therefore, I strongly advise all Landlords to employ the services of an attorney to prepare and serve these documents to ensure their accuracy and compliance with all applicable statutes. As always, if you have any questions, feel free to contact our office at (516) 858-2620!
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