Once you have paid off your mortgage in full, the mortgage company is under an obligation, at least in New York State, to discharge your mortgage within thirty days.  Unless you request otherwise, the mortgage company should present a satisfaction of mortgage to the county clerk’s office for recording within thirty days.
Your mortgage company is [...]

Mortgages in default are taking longer to go to foreclosure.  In yesterday’s Washington Post it was reported that “During the first quarter of this year, the share of all homeowners seriously delinquent on their mortgage but not yet facing foreclosure more than doubled to 3.04 percent, or about $227 billion in loans.”  In 2008 there [...]

Virtually everyone is affected by the mortgage crisis.  Whether or not you are having trouble keeping up with your mortgage, you are being hurt by the number of foreclosures going on in your community.  Every foreclosure within a certain distance from your home is lowering the value of your home.  The more foreclosures, the greater the decrease [...]

What do President Obama, Vice President Biden, NY City Mayor Michael Bloomberg, former Republican Secretary of Housing and Urban Affairs Jack Kemp, Citigroup, the National Association of Home Builders and the AARP all agree on?  They agree that the “Helping Families Save Their Homes in Bankruptcy Act of 2009” should be passed as soon as [...]

140 consumer bankruptcy attorneys from 32 states came to Washington D.C. today to tell their elected representatives in Congress that the foreclosure crisis is getting worse everyday in their communities. They didn’t just bring bad news, however. They have a solution that will save over 800,000 homes from foreclosure this year alone.
The “Helping Families Save [...]

I just got back from taking my two grandchildren trick or treating.  I took them to the residential area where I used to live.  It is an older neighborhood where the houses were built about 50 to 60 years ago.  Before I moved, my neighbors were divided between those older than 60 years old, those [...]

In the midst of the biggest increase in foreclosures in many years, New York foreclosures fell 10% during the third quarter of 2008.  Does this mean that the foreclosure crisis is over, at least in New York?  Not at all.  The thrid quarter decline in foreclosures is due to a new law that went into [...]

The plans to help homeowners who are facing the loss of their homes are doomed for failure. They are expensive, impractical and will only help a portion of those who need help. Carmen Dellutri’s recent article on these pages shows why mortgage modifications are still not working. There is one idea, however, [...]