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).
“A new NYC Service initiative to provide free legal support for New Yorkers at risk of losing their homes to foreclosure. The program will increase the availability and effectiveness of free legal representation for those facing foreclosure by training and dispatching 300 volunteer attorneys to expand legal services provided by non-profit organizations.”
2. Brooklyn man pleads guilty to foreclosure scam in Bergenfield, Paterson (NorthJersey.com)
“Garth Celestine, 44, pleaded guilty to conspiracy to commit wire fraud for his role as the co-owner of Home Savers Consulting Corp., a now-defunct company based in Brooklyn and Long Island, the U.S. Attorney’s office in Newark said.”
Celestine was running a well-worn foreclosure scam. What was the scam? They would find homeowners facing foreclosure and convince them to transfer title to a third-party “buyer” for 6 months to a year. During that time, the homeowners were told they’d be able to get a loan at a better rate and then buy the home back. What happened, however, is that the homeowners lost their home and Celestine and his partners would take the new loan money and deposit it in their own bank account.
Government authorities are starting to crack down on these scams more, but new ones and new versions of the scams are always popping up. Your best route is to consult with a trusted bankruptcy attorney before making a move in desperation. A good New York bankruptcy attorney can always help you devise an appropriate strategy, even on short notice.
Most people outside of the bankruptcy world don’t realize that the bankruptcy world equivalent of March Madness happens every year in downtown Brooklyn. Yes, I’m talking about the Conrad B. Duberstein National Bankruptcy Moot Court Competition, which pits moot court teams from law schools all around the country against each other in a national competition.
The quarter-finals, semi-finals and finals take place each March right here at 271 Cadman Plaza, home of the U.S. Bankruptcy Court’s Eastern District. Approximately two dozen bankruptcy judges from around the U.S. serve as judges for the final rounds of this prestigious competition. (And yours truly served as a judge in the first round!) Though this year’s competition had a particularly Texas flavor as teams from the University of Texas Law School took both first and second place. (Note: Just want to point out that UT’s victory should not in itself be construed as a sufficient reason to move to Texas to file for bankruptcy.)
If you’re considering filing for bankruptcy in Brooklyn and need a good Brooklyn bankruptcy attorney, please contact me to discuss and get the full benefit of the bankruptcy laws.
Contact Bruce Weiner, Esq.
EMAIL Bruce Weiner
(718) 855-6840 (Local)
(866) 402-8476 (Toll Free)
Fax (718) 625-1966