Mortgage Archives - Page 15 of 15 - Bankruptcy Attorney in Brooklyn, New York

New York foreclosures likely to continue as ARMs begin to re-set over next 4 years

Leave a Comment / Bankruptcy, Debt, Foreclosure, Foreclosure mediation, Loan modification, Mortgage / By Matt Leichter

As bad as the foreclosure problem has been, it’s apparently ready to get worse, according to this article in the New York Times (“Loans that looked easy pose threat to recovery“). All the adjustable rate mortgages (“ARMs” for short) we’ve been hearing about are getting ready to re-set over the next four years, and that …

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Can I keep my home if I file for bankruptcy in New York?

Leave a Comment / Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Creditors, Debt, Exemptions, Foreclosure, Foreclosure mediation, Legislation, Loan modification, Mortgage / By Matt Leichter

Yes, you can keep your home if you file for bankruptcy in New York. But it’s not a given. And depending on your circumstances, there are a few different ways to do it. If you file for Chapter 7 bankruptcy Brooklyn NY, then you can keep your home as long as the remaining equity in …

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BAPCPA Man meets Subprimulus!

Leave a Comment / Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit Counseling, Creditors, Debt, Loan modification, Mortgage / By Matt Leichter

With permission from Bankruptcy Bill himself, here’s BAPCPA Man #3 where BAPCPA Man meets the ominous-looking villain Subprimulus. (Click on image to see larger version.) The cartoon touches on a number of important themes, including: The mandatory pre-bankruptcy credit counseling requirement (addressed in previous post on this blog titled “What You Should Know About the …

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Subprime loan modification companies

Leave a Comment / Bankruptcy, Foreclosure, Foreclosure mediation, Loan modification, Mortgage, Scams / By Matt Leichter

If you’re facing foreclosure in New York or considering seeking a loan modification for your home in New York, then here’s one more reason to stay away from loan modification companies (as if you should need any more convincing). According to a piece in The New York Times, many of the companies offering to help …

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Big drop in Brooklyn housing prices

Leave a Comment / Bankruptcy, Debt, Foreclosure, Foreclosure mediation, Legislation, Mortgage / By Matt Leichter

“FREE-FALLING: Borough housing prices plummet,” screamed the lead article in the July 10th edition of The Brooklyn Paper. While it may not be quite as dramatic as the headline indicates in the “Brownstone Belt” (as the article refers to Brooklyn), it’s impossible to deny that the housing crisis is also affecting what has been thought …

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Foreclosure mediation and other new ways to encourage loan modification

Leave a Comment / Bankruptcy, Creditors, Debt, Foreclosure, Foreclosure mediation, Legislation, Loan modification, Mortgage / By Matt Leichter

As New Yorkers and the rest of America brace for more foreclosures, the loan modification option has not helped as much as hoped. As a result, a number of states have been implementing foreclosure mediation programs and other alternative dispute resolution options aimed at nudging more mortgage banks to the negotiating table. The Center for …

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Love in the Time of Foreclosure

Leave a Comment / Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Foreclosure, Loan modification, Mortgage, Scams / By Matt Leichter

If Gabriel Garcia Marquez had struggled with his mortgage, he might have written Love in the Time of Foreclosure (http://loveinthetimeofforeclosure.blogspot.com). Instead, it’s a blog being currently written by a young woman in California describing the process of going through a foreclosure and her efforts to stay positive and keep perspective on everything. On the topic …

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Loan modification: Are you eligible?

Leave a Comment / Foreclosure, Loan modification, Mortgage / By Matt Leichter

You may have heard talk about “loan modification” in connection with home mortgages. But how do you know if you’re eligible? First off, loan modification generally refers to the process of trying to change some of the terms of your mortgage, such as your interest rate, reducing penalties for late payments, the term of the …

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