Specific performance is an equitable remedy where a court orders a party to actually perform its contractual obligation, because monetary damages are inadequate to resolve the legal dispute. Generally, the specific performance remedy is sought to complete a previously intended transaction such as the sale......
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Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions until July 31, 2021. The foreclosure moratorium applies to Fannie Mae and Freddie Mac, single-family mortgages only. The REO eviction......
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Our mortgage modification attorney in Queens, New York has successfully negotiated a loan modification for a client. Our client fell behind on her mortgage payments due to her mother’s ailing health in 2017. Our client had to provide care to her mother and as a......
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Real Property Law § 265-b is intended to protect individual borrowers who have mortgages secured by a one to four family owner-occupied residence, and who are in danger of being foreclosed because of one or more defaults under the mortgage that entitle the lender to......
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If you have been served with a summons and complaint in a foreclosure action, and you have not filed an answer, you still have options available to you. Our Queens foreclosure defense attorney is available to speak with you at anytime and will provide you......
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Filing for Chapter 7 bankruptcy requires you to meet qualifying income levels. Since bankruptcy courts discharge most if not all debts, it is an option reserved for only the most financially restricted consumers. If you do not qualify for Chapter 7, you can attempt to......
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A New York foreclosure attorney can discharge a mortgage when it is barred by the applicable statute of limitations. In New York, an action to foreclose a mortgage is subject to a six-year statute of limitations. In other words, a bank has six years to......
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Filing a Chapter 7 Bankruptcy can be an option if you are in the midst of a foreclosure action. Bankruptcy is a federal procedure for dissolving/discharging debts, or in some cases paying debts on a schedule. The United States Constitution authorizes Congress to enact “uniform laws”......
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If a borrower is behind on his or her mortgage payments, he or she may be eligible for several “loss mitigation” options. One of those options is what is called a “deed in lieu of foreclosure” and it will be presented by the bank to......
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When faced with foreclosure, a borrower will have several “loss mitigation” options available to them. One of these options is a New York short sale process to stop foreclosure. A short sale is a sale of the property to a third party, which sells for......
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The foreclosure process in New York can be long and complex. The good news is that the bank must comply with many regulations before commencing a foreclosure action. Therefore, there are many opportunities that the borrower is presented with to litigate a foreclosure action. Hiring......
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Ways to Stop Foreclosure When Served with a Notice of Sale File for Bankruptcy Protection A homeowner can file a Chapter 7 or Chapter 13 bankruptcy and this will automatically stop the sale. Today, an attorney can file your petition electronically with the court,......
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