A coalition of government, civic and religious leaders with City Comptroller John Liu in charge have the assignment to help stern the rising foreclosure crisis wreaking havoc on the New York economy. The group includes representatives from Queens, where the foreclosure hit the highest level. Their first step was signing a letter urging the big [...]
Tens of thousands of New York former homeowners who lost their homes on an alleged foreclosure fraud gathered their forces and with the help of attorney Susan Chana Lask filed a Federal Class Action Complaint. The fraud was orchestrated for year by a New York foreclosure mill attorney and mortgage companies. The action seeks to [...]
Only two months have been past between the agreement between Macklowe Properties and SL Green Realty Corp. and the 510 Madison Avenue boutique tower became the property of Boston Properties. The agreements was signed 6 days ago in order to stop the foreclosure process on the tower. The $280.6 million purchase price equals the aggregate [...]
A single mom organized a yard sale in her desperate trying to keep her Tilden Avenue home. Karen Simmons-Braswell bought the white colonial-style home back in December 2006, held a yard sale on Saturday to raise money to help with house payment that are in default. The sale is planned to continue the next day. [...]
Morgan Stanley & Company, a New York investment banking firm has finally entered into an agreement with Washington D.C. Attorney General. This solves and investigation related to subprime loans in the District from 2004 to 2007 initiated by Morgan Stanley’s. However, while Morgan Stanley denied to have any business practices that violates the District’s consumer [...]
With short sales becoming ever more popular as an alternative to foreclosures, an alarming trend dampens the irrefutable success the process offers all parties. Of course the short sale process requires the approval of the lender. Large portion of the short sales have been severely hampered by lenders failing to respond timely to the short [...]
With the Eureka Short Sale Program the homeowner’s details are withheld from the market while the conditions of the settlements are being negotiated. Subsequently the property will never be marketed as distressed sale; it will be presented to the market based on its features, not on the vulnerabilities of the parties involved. So the Eureka [...]
While Eureka is able to negotiate an agreement with the timely approval of the lender then simultaneously utilize its immense marketing capabilities to off load the property is a tremendous value to a homeowners flailing in financial uncertainty. Since the property is not marketed as short sale it gives an instant boost in marketability. Real [...]
All categories of foreclosure, (freshly instituted foreclosures, foreclosures in progress, and completed foreclosures) experienced solid gains of almost 20% from Q4 in 2009. Clearly the legal system is being tested to the very boundaries of its capacity. With fundamental assistance from the Home Affordable Modification Program (HAMP) loan modifications have increased slightly by approximately 5%. [...]
We are a nationwide network of real estate, financing and legal professionals with a mission to improve the efficiency of short sales and create a win scenario for all parties involved. We are closely monitoring the laws and regulations and promoting anti-scam and anti-fraud communications from various government organizations.
