Loan Modification | Rosenberg, Musso & Weiner, LLP

Lessons Learned from Comparing the U.S. Mortgage System to Spain’s

You know the story: real estate prices rose through the 2000s, businesses prospered, and home ownership grew with the houses. Houses that the owners financed with low-interest mortgages that they thought they could easily pay off.

Then the bubble burst. Unemployment soared, and the homeowners who could not afford to pay . . . → Read More: Lessons Learned from Comparing the U.S. Mortgage System to Spain’s

Will the automatic stay protect me from foreclosure in New York?

If you are facing foreclosure on your home in New York and you file for bankruptcy, will the automatic stay protect your home from foreclosure?

The answer: Yes and no.

Once you file for bankruptcy, the automatic stay goes into effect and prohibits any creditors from taking any actions to collect money or assets from you. This does . . . → Read More: Will the automatic stay protect me from foreclosure in New York?

5 common mortgage scams for New Yorkers to beware of

Being under financial stress makes people extremely vulnerable to scams, whether in New York or elsewhere. The key is being aware, being educated and being skeptical. And of course, it never hurts to have an experienced New York bankruptcy attorney to check in with.

Here are five common mortgage scams that every New Yorker should know about. . . . → Read More: 5 common mortgage scams for New Yorkers to beware of

Last minute foreclosure help

NPR has a good piece this morning on WNYC about a real estate agent in Springfield, MO who goes door to door helping homeowners facing foreclosure. She and her partner literally knock on doors and offer their services for free. As a result, they’ve helped a number of homeowners at least temporarily stave off foreclosure in . . . → Read More: Last minute foreclosure help

Brooklyn Bankruptcy Update 09.07.2010

Time for another edition of Brooklyn Bankruptcy Update, a look at the latest Bankruptcy news and happenings out of the County of Kings (aka Brooklyn).

“Fraudulent nursing school files for bankruptcy: Students left holding the bag at Brooklyn-based Envision Review Center Inc.“ (Crain’s New York Business) – The nursing school, located on 1894 Flatbush Avenue, . . . → Read More: Brooklyn Bankruptcy Update 09.07.2010

Pre-bankruptcy planning in New York and the continuing foreclosure crisis and economic recession

Worried about your finances? Don't wait around feeling like one of these guys.

Grim economic news continues to pour forth.

CBS News’ website has an articled titled “The Coming Foreclosure and Commercial Real Estate Storms.” You thought we were already in the middle of the foreclosure crisis? Well apparently there’s more to come.

From the banks’ point . . . → Read More: Pre-bankruptcy planning in New York and the continuing foreclosure crisis and economic recession

Will "mortgage cram down" help New Yorkers?

The “mortgage cram down” issue is back in the news this week. Congress is discussing an amendment that would give bankruptcy judges the power to “cram down” or change the basic terms of a mortgage.

(See the latest BAPCPA Man vs. Mortgantua cartoon for a good picture of what mortgage cram down looks like.)

If the new amendment . . . → Read More: Will "mortgage cram down" help New Yorkers?

Loan modification scams and U.S. Foreclosure Relief

There’s a great recent post by Professor Katie Porter on the CreditSlips.org blog about loan modification scams.

If you’ve read other posts on NYBankruptcyNet on the topic of loan modifications, hopefully you’re familiar with the basic gist: namely that any non-lawyer loan modification service (and unfortunately, some lawyer loan modification services) are almost always scams. The same . . . → Read More: Loan modification scams and U.S. Foreclosure Relief

Bankruptcy Bill's Bankruptcy Song Contest

A song contest might not be the first thing that comes to mind when you think of bankruptcy. But apparently it is for the folks at the Bankruptcy Bill cartoon site.

So if you have any thoughts or feelings about the topic of bankruptcy, whether from personal experience or otherwise, here’s a wonderful opportunity to express yourself.

Go . . . → Read More: Bankruptcy Bill's Bankruptcy Song Contest

BAPCPA Man #9: Part 2 of BAPCPA Man vs Mortgantua

BAPCPA Man continues his fight against the seemingly unstoppable Mortgantua.

Note: This cartoon is posted with permission from the creators of BAPCPA Man.

Click here to see a larger version of . . . → Read More: BAPCPA Man #9: Part 2 of BAPCPA Man vs Mortgantua

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