Monthly Archives: December 2010
Foreclosure Blocked On “Show Me the Note” Objection
In what I believe is the biggest win yet for the “produce the note” movement, a U.S. judge in New Jersey recently blocked a foreclosure attempt by Bank of America, arguing that BoA did not have standing because of problems with its loan documentation. In her November 16 ruling in the case John T. Kemp v. Countrywide Home Loans Inc., Chief Judge Judith H. Wizmur of the U.S. Bankruptcy Court in Camden ruled that BoA (which acquired Countrywide in 2008) could not foreclose on an investment property Kemp owned at 1316 Kings Highway, Haddon Heights, because Countrywide never delivered the […]
`Twilight Zone’ Foreclosure Law Firm Draws Fine, Suits in New York Courts
Steven J. Baum’s New York foreclosure law firm has attracted lawsuits and fines for its actions during the housing crisis, with one judge likening its conduct to something out of the “Twilight Zone.” As recently as last month, Baum’s firm, which one lawyer for homeowners said processes about half the foreclosures in New York state, was ordered to pay $14,532.50 in legal fees and costs and a $5,000 fine by Nassau County District Court Judge Scott Fairgrieve in Hempstead, New York. The judge said that when Paul Raia refused to vacate a Garden City co-op after foreclosure, Baum’s firm filed […]
Freddie Mac & Fannie Mae To Take A Break From Evicting During The Holidays
There are few things as depressing as having your house taken away from you on Christmas Eve, so the people at Freddie Mac and Fannie Mae are issuing a brief moratorium on evicting people from foreclosed properties during the holiday season. In a statement on its site, F.Mac said it won’t be evicting anyone from any occupied single family and 2-4 unit properties with Freddie Mac mortgages between Dec. 20 and Jan. 3. “If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays,” said a biggie […]
LI Judge Testifies in Federal Foreclosure Hearing
On Capitol Hill, New York State Supreme Court Justice F. Dana Winslow has just finished his opening testimony to the House Judiciary Committee about foreclosures and touched on a Catch-22 that’s crippling the nation’s economy and housing market. “Many people need to move from one community to another for a job,” said Winslow, who usually rules from the bench in Mineola. “They can’t. They can’t move to get employment because they can’t sell the house that they’re in and move to another area.” The committee is in a short recess between panels of witnesses on a hearing titled “Foreclosed Justice.” […]
Officials: New Foreclosure Scam Preys on Desperate Homeowners
Tim and Jenny Lawson say they were three months behind on their $390,000 mortgage when they received a letter from a company called U.S. Loan Auditors offering help. “Your lender … is currently under investigation for predatory lending. Based on our information you may be a victim, and may qualify to participate in a lawsuit against them,” the letter said. The couple paid U.S. Loan Auditors $8,900 over five months, and on the company’s advice, stopped making their mortgage payments, Jenny Lawson says. A lawsuit was filed on their behalf, but only after their home was foreclosed, she added.They were […]