Freddie Mac has announced that the base interest rates on Freddie Mac Standard Loan Modifications and Streamlined Modifications will increase for the first time in several years effective April 14, 2015. See here. Effective April 14, 2015, the base rate...
For over three decades we have represented consumer debtors before the United States Bankruptcy Court and the Courts of the State of New Jersey. On occasion, the serious debt problems of our clients resulted from being deceived about money that...
The Truth in Lending Act, 15 U.S.C. §1601 et seq (TILA) was intended to protect consumers in consumer credit transactions and requires that lenders provide consumer borrowers with full disclosure of the terms and conditions of the loans they make,...
Under the provision of the Fair Debt Collection Practices Act, 15 USC §1692 et. seq. (“FDCPA”), attorneys who represent banks and other entities and are engaged in the collection of delinquent mortgage payment and foreclosure proceedings against homeowners are ‘debt...
A decision of the United States Bankruptcy Court for the Western District of Pennsylvania provides a clear example of why homeowners who become delinquent on their mortgage payments and seek to find a remedy to prevent the loss of their...
Short Sales Benefit Realtors But May Not Benefit Homeowners Who Should Be Fully Informed About Alternatives Such As Chapter 7 Bankruptcy and the Possible Tax Consequences of a Short Sale Nearly every homeowner facing foreclosure receives notices from their mortgage...
New Jersey Foreclosures Which Once Took Several Years Can Now Be Completed In Six Months. Loan Modification May Still Offer Multiple Options to Homeowners After Service of the Foreclosure Complaint. Homeowners Seeking Modification Who Are Served With a Foreclosure Complaint...
Careful planning before filing a bankruptcy petition often determines the outcome of the proceeding. For this reason, mammoth corporations and individuals who have very substantial assets devote as much time to planning for a bankruptcy filing as they do for...
Since 2007, homeowners who conducted short sales and other loss mitigation alternatives on their properties were able to exempt any income associated with their mortgage company's write-off of any debt under the federal mortgage forgiveness act. However, Congress allowed the...
A recently announced New Jersey Appellate Division case highlights some limitations to proceeding with "foreclosure defense" tactics. In Wells Fargo Bank N.A. v. Lopez, No. A-2399-11T4. the Superior Court of New Jersey, Appellate Division, in an opinion decided March 28, 2013, found that...
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