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Loan modification

BAPCPA Man vs Mortgantua #4 – Mortgage Cramdown!

The BAPCPA Man vs. Mortgantua battle rages on.  How will BAPCPA Man get out of this jam? Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. If you’re facing foreclosure in New York, if you’re struggling with mortgage and other financial problems, if you need …

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BAPCPA Man #15 – BAPCPA Man continues his battle with Mortgantua (Part 3)

Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Click here to see a larger version of BAPCPA Man #15:  BAPCPA Man vs Mortgangua #3. If you’re worried about foreclosure and mortgage problems and are contemplating filing bankruptcy in New York along with other options, …

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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.  …

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BAPCPA Man #7 – BAPCPA Man vs. Mortgantua

Another great cartoon from BAPCPA Man as he takes on the evil Mortgantua.  Really seems to sum up what homeowners must bee feeling if they’re facing foreclosure in New York.  To learn more on the topic you can read some of my my previous posts on the topic of Brooklyn NY Foreclosure Attorneys. Note: This …

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Brooklyn Judge gives New York homeowners a fighting chance against foreclosure

For New York homeowners facing foreclosure, they may feel like the deck is stacked against them.  The economy is in the tank.  Credit has dried up.  Trying to call your mortgage company and negotiate a loan modification feels like an exercise in futility.  And mortgage companies are probably profiting off the delays in the foreclosure …

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

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?

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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Foreclosure mediation and other new ways to encourage loan modification

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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Loan modification: Are you eligible?

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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