City Councilmen Blast Banks for Refusing to Abide by Federal Foreclosure Mandates

Category: Prevent Foreclosure
Published: Wednesday, 26 August 2015
Written by Super User

Mr. Lancman said that banks frequently delay foreclosure conferences to modify homeowners loans or show up unprepared; banks are required by law to hold such conferences within 60 days of foreclosures proceedings as part of the federal Home Affordable Modification Program, which requires banks and mortgage servicers to provide eligible homeowners with loan modifications to adjust the monthly payments to an affordable amount.

But as The New York Times recently reported, banks have rejected 72 percent of applicants, or four million borrowers, nationally, a pattern that has been reflected in Queens, legislators say.

Eighty percent of these banks are not prepared to negotiate in good faith at these conferences, they dont have the documents they have turned these conferences into a sham, Mr. Lancman said, citing the case of one Queens homeowner who had to fill out the application for modification 8 different times, submit bank statements 14 times and verify their income 15 times.

The banks unwillingness to comply with the law has made it nearly impossible for homeowners to receive modifications without the help of legal counsel, he added, and the city spends $1.75 million each year specifically on legal services to prevent foreclosure; another $5.4 million goes to other housing legal aid, which includes foreclosure cases.

Foreclosures, moreover, continue to clog the states civil court system, according to Jacob Inwald, the director of foreclosure prevention at Legal Services NYC, accounting for more than a third of all civil cases.

Were standing here with a very clear message to banks--stop wasting our time, councilmember Dan Garodnick said. The recession may be over, but weve seen foreclosures continue to spike in New York City, especially in Southeast Queens.

Loan modification, he emphasized, was not a gesture, but banks responsibility.

Councilmembers admitted, however, that as banks are already required by law to offer loan modifications, there is little at the moment that can be done to make them do so--though that could be changed via additional legislation. And, Mr. Landsman added, one of the things we can do is support the state and federal government into shaming the banks and I am not the least bit reluctant to leverage the citys power with the banks to compel them to be good corporate citizens.

Phipps Family Homes Helps Home Owners Prevent Foreclosure, Stop Total Loss of ...

Category: Prevent Foreclosure
Published: Tuesday, 25 August 2015
Written by Super User

The Unfortunate state of the current economic conditions has had an impact on the homeowners. There has been an increase in the number of home owners who are faced with foreclosure because of defaults in mortgage payment. Having to face a foreclosure can cause great amount of distress to the homeowners, foreclosure is usually the last option any home owner would like to consider. It is important to understand that both banks and homeowners would like to avoid foreclosure and foreclosures are viewed as only the last resort. A majority of homeowner facing this issue are unaware of their options for avoiding foreclosure. Nicholas Phipps from Phipps Family Homes is helping home owners prevent foreclosure and stop total loss of properties, by purchasing homes with an impending foreclosure issue.

Nicholas explained: I am a local real estate investor and I have been buying houses for cash for a while now and I would love to have the opportunity to make you an all cash offer on your property.

The solution proposed by Nicolas through his company is a quick and simple option for people who are preparing themselves for the worst: a foreclosure of their home. Phipps Family Homes is open to do business with owners of multi-family, single family, condo, or town homes in the state of Ohio, Nicolas assures that after a request is submitted to his company, he and his team promptly analyze the request on the basis of the condition of the home, cost of repairs that are needed to be made, the current local market conditions of Ohio, as well as the urgency of the situation, then come up with a fair price for the home.

Nicholas further added: My lsquo;Sell House Fast Ohio buying philosophy is and always has been based on three simple words...Seller Must Benefit. If I make you all cash offer to buy your house fast, and the offer is suitable to you, then it would just make good sense to work with me. If we cannot come to terms with a suitable all cash offer, then we will part as friends and I may even be able to point you in the right direction to accomplish your immediate goals.

The price offered is the net amount sellers will receive from Phipps Family Homes in cash, meaning there are no hidden charges or fees that the sellers will have to pay for. Selling requests can be submitted online on the Phipps Family Homes website:


Phipps Family Homes is an Ohio based I buy houses real estate investing company that helps homeowners with impending foreclosure homes through sell quick for cash.

For more information, please visit:

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Address:Suite 303 4456 North Abbe Rd
City: Sheffield Village
State: Ohio
Country: United States

Letter writer: City of Asheville is partly to blame for affordable housing problem

Category: Prevent Foreclosure
Published: Sunday, 23 August 2015
Written by Super User

I'm curious about these local "experts" ["Collision Course," July 29, part of Xpress affordable housing essay series].  Has anyone been interviewed who has been royally screwed by City Council's collectivist legislation responsible for driving rental rates sky high?

Years ago, Xpress covered the onset of my saga, regarding how the city initially forced me to kick out from my eight-bedroom, historic Victorian home of 26 years three renters in order to comply with the "no boardinghouse" rule of the UDO, without allowing for "grandfathering," for which I was entitled. This forced me to raise my rents from $400 to $600 in order to try and make my mortgage payments.

What Xpress has not known about is that my saga continued to be dragged out until just this spring, making it about a five-year painstaking ordeal with Wells Fargo. As with so many other Americans who have been screwed by the banks as a result of the Bush-Obama "bail-outs", I was told by [Wells Fargo] that I would have to be at least a couple months in mortgage default before it could help me with a re-financing resultant of the "bailouts."

However, [Wells Fargo] apparently had no intention whatsoever to refinance my mortgage, and as typical, dragged out the re-fi process until it could attempt to foreclose. I wound up having to enter into bankruptcy to stop the foreclosure, which destroyed my excellent credit score and then had to sell my house "short" in order to ultimately prevent foreclosure.

A 25-year long affordable and green living situation in Montford was totally destroyed by the city of Asheville, which simultaneously violated my property and privacy rights to boot. This, along with Ashevilles high tax rates comparable to large cities, combined with low-paying jobs, has far more to do with the affordable housing problem than so-called "greedy landlords." Yet ignorant locals are now suggesting "rent controls" -- will people here never learn?

I'm certainly not the only landlord who was screwed by the city of Asheville. Others like me are the real experts who have suffered great financial and emotional damages resultant from this city's collectivist social engineering, and these are the people who need to be interviewed in order to reach the truth of the matter.

-- Bernard Baruch Carman

NYS AG: "Mortgage help is available"

Category: Prevent Foreclosure
Published: Friday, 21 August 2015
Written by Super User
August 13, 2015 Updated Aug 13, 2015 at 6:36 PM EDT

(WBNG Binghamton) New York State Attorney General Eric Schneiderman (D) was in Binghamton Thursday to discuss his efforts to keep Southern Tier families in their homes.

The Attorney Generals Office released a report detailing the results of efforts to prevent foreclosure across the state.