ARTICLES BY ROACH & LIN, P.C.
Located in Syosset, NY, Roach & Lin, P.C. has the most experienced professionals in real estate, litigation, foreclosure, and bankruptcy law. Our vast knowledge and experience allow us to effectively take on any case. We do everything we can to better serve our clients and exceed their expectations! To learn more about our practice, please read some interesting articles about New York debt collection and real estate law.
New York’s Statute of Limitations – Another Pitfall to Avoid!
New York’s Statute of Limitations ("SOL") is designed to protect homeowners from the unfairness that might otherwise result from foreclosures concerning defaults that occurred so long ago that the homeowner may no longer possess documents, evidence or proof of payments made.
Judgment Enforcement: What’s in your debtor’s wallet?
Many litigation attorneys are very good at what they do - winning cases and obtaining judgments. But once they obtain a judgment, their clients are not always voluntarily paid what they have been awarded, and the judgment must be enforced. In order to do so, the debtor’s assets must first be located so enforcement proceedings can commence.
Strict Foreclosure: The Second Bite of The Apple
When a mortgage is foreclosed, not only are the rights of the owners of the property extinguished, but all rights of third parties who have subordinate liens or other interests are extinguished, as well as the property, which will be sold at the foreclosure sale “free and clear” of any such interests.
Dual Tracking Prohibited When “Complete” Loss Mitigation Application Received
While Borrowers have always had the ability to request Loss Mitigation as a way of resolving a foreclosure, both the public awareness and the legal requirements for Loss Mitigation have dramatically increased since the foreclosure crisis began in 2008.
Zombie Foreclosures: Are they coming for you?
Due to the housing crisis of the past 5 years, efforts have been made to give homeowners every conceivable chance to avoid the foreclosures of their properties, so that they are not forced out of their homes. While well-intentioned, some of these provisions have resulted in unintended consequences. One such impact has been the rise of “zombie foreclosures.”
Reducing the Foreclosure Timeline
Most Default Mortgage Servicers consistently refuse to accept a deed in lieu of foreclosure from a defaulting homeowner unless there are no subordinate liens and unless they have obtained a financial statement from the homeowner to ensure he/she does not have adequate resources to repay the loan from their other assets.