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Apr 11, 2016

Report faults New York’s foreclosure process

New Yorkers for Responsible Lending (NYRL) has released a report showing wide variations in the way foreclosure settlement conference rules are implemented, depending on where homeowners live. The group’s report, titled “Divergent Paths: The need for more uniform standards and practices in New York State’s residential foreclosure conference process,” looks at New York state’s foreclosure[...]

May 19, 2015

NY regulator proposes foreclosure law change

ALBANY — New York’s top bank regulator on Tuesday proposed amending state law to shorten the foreclosure process for homes with delinquent mortgages. Department of Financial Services Superintendent Ben Lawsky, addressing mortgage bankers, said New York’s process averages 900 days from the date of filing to the sale of the property. That’s nearly a year […]

Dec 2, 2014

App aims to stop foreclosure rescue scams

ALBANY — New York’s attorney general launched a new Web-based app on Tuesday to help struggling homeowners determine whether offers of foreclosure rescue are legitimate or scams. Using up to $100 million from bank settlements following the housing market collapse, Attorney General Eric Schneiderman has established a network of 86 counseling and legal services to […]

Jul 23, 2014

Fourth Department — Foreclosure: Meadowlands Portfolio v. Manton

Appellate Division, Fourth Department Foreclosure Equitable Action — Abuse of Discretion Meadowlands Portfolio v. Manton CA 13-01591 Appealed from Supreme Court, Jefferson County Background: The plaintiff commenced a foreclosure action seeking the total amount due under a settlement and release agreement executed by the parties. The agreement combined into one obligation the amounts due on [&hel[...]

Jun 27, 2014

New program helps avoid foreclosure

The state is launching its New York State Mortgage Assistance Program, or NYS MAP, which will provide small loans to families struggling to avoid foreclosure. The loans will help families secure mortgage modifications to stay in their homes. Details were to be released at a Nassau County Town Hall in Hempstead. NYS MAP will be […]

Aug 7, 2013

Fourth Department — Foreclosure: Brandywine Pavers Inc. v. Bombard, et al.

Appellate Division, Fourth Department Foreclosure Amendment of Judgment — Illegal Subdivision Brandywine Pavers Inc. v. Bombard, et al. CA 13-00059 Appealed from Supreme Court, Onondaga County Background: The plaintiff commenced action to foreclose on a mortgage that was secured by property owned by the defendant Bombard. The defendant appealed from an order amending the judgment to […]

Aug 4, 2013

Fourth Department — Foreclosure: The Ekelmann Group v. W. Dean Stuart

Appellate Division, Fourth Department Foreclosure Default Judgment — Waiver of Default Interest The Ekelmann Group v. W. Dean Stuart CA 12-02215 Appealed from Supreme Court, Steuben County Background: The defendant was a mortgagor, borrower or debtor on several mortgages and promissory notes that were assigned to National Loan Investors in 1996. All of those documents were […]

Jul 25, 2013

Fourth Department — Foreclosure: Dasz, Inc. v. Meritocracy Ventures, LTD, et al.

Appellate Division, Fourth Department Foreclosure Fraud in Execution — Failure to Read the Mortgage and Promissory Note Dasz, Inc. v. Meritocracy Ventures, LTD, et al. CA 12-01858 Appealed from Supreme Court, Chautauqua County Background: The plaintiff commenced a foreclosure action after the defendants defaulted on a note executed by the defendants. The plaintiff submitted the note and [&hell[...]

Jun 30, 2013

Court of Appeals — Foreclosure: Altshuler Shaham Provident Funds Ltd. v. GML Tower LLC

New York State Court of Appeals   Foreclosure Lien Priority — Construction Loans Altshuler Shaham Provident Funds Ltd. v. GML Tower LLC No 115 Judge Read Background: A mortgage foreclosure action arose from a failed redevelopment of a hotel complex consisting of several properties. The lender for the redevelopment and numerous mechanic’s lienors disputed the priority of […]

Jun 20, 2013

Banks fall short helping struggling homeowners

WASHINGTON — A new report says homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation’s top mortgage servicers. Such delays can plunge borrowers deeper in debt. Joseph A. Smith, the independent monitor of last year’s national mortgage settlement, said Wednesday that while […]

Mar 15, 2013

Towns seek help dealing with home vacancies

An unkempt vacant home or building with uncut grass and other unsightly issues can be a source of frustration with neighbors who make a point of keeping up their properties. And it’s a source of frustration for government officials, who at times find their hands tied when it comes to finding someone to do the […]

Feb 22, 2013

5 big banks have cut mortgage debt by $19B

WASHINGTON — Five of the biggest U.S. banks have cut struggling homeowners’ mortgage balances by $19 billion, part of a total $45.8 billion in relief provided under a landmark settlement over foreclosure abuses. More than 550,000 borrowers received some form of mortgage relief between March 1 and Dec. 31, 2012, according to a report issued […]

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