How Long Does Foreclosure Take in NYC?
How long does Mortgage Foreclosure take in NYC? An alarming number of my clients are going through foreclosure proceedings. The bank notices are often confusing and bank personnel are not helpful in explaining the situation. This leaves many people in the precarious position of not knowing what their options are and losing their ability to […]
Can Bankruptcy Stop the Bank From Foreclosing on NYC My Co-op?
Bankruptcy and Your Co-op In New York there are several different types of cooperatives, i.e., a co-op. The traditional co-op owner has shares of stock and a proprietary lease. This essentially boils down to having a membership with a right to lease in a particular apartment building. Typically, the tenant pays a monthly mortgage, maintenance […]
National Mortgage Settlement Summary
According to the National Mortgage Settlement web site, 49 state attorneys general and the federal government reached agreement to settle a long-running dispute with the country’s five largest loan servicers: Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo. The settlement will provide as much as $25 billion in relief to distressed borrowers and […]