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Foreclosure & Alternatives Archives

CONSUMER FINANCIAL PROTECTION BUREAU SUES OCWEN FOR "FAILING BORROWERS AT EVERY STAGE OF THE SERVICING PROCESS"

Ocwen Misconduct.jpgIn late April of 2017, the Consumer Financial Protection Bureau (CFPB) sued Ocwen Financial Corporation over allegations of widespread misconduct in how it serviced borrowers' loans.

The Hail Mary: Filing for Bankruptcy to Save Your Home

The Hail Mary Filing for Bankruptcy to Save Your Home.jpgIf you are in a serious financial crisis, it may seem like every part of your life has been affected in a negative way. Your options-as well as your future-may suddenly seem terribly constricted. You may feel very alone, and as if you can't talk to anyone about these problems, sometimes even including your own family. If you reach out for help though, you may be quite amazed at the positive results-and tremendous relief-you can achieve.

Unable to Pay the Mortgage: What Happens if I just Walk Away?

unable to pay the.jpgThe threat of foreclosure does not happen overnight. For most homeowners in distress, payments have been late for at least several months-and possibly more. A loss of income is usually the cause, due to a life event that was almost certainly unexpected and even catastrophic in nature. Medical bills and illness may have completely turned your life upside down, and may have been coupled with the inability to work. With other outstanding debts like credit cards, student loans, and more, suddenly it may be impossible to make ends meet-and especially if other major issues arise such as divorce or unemployment.

CAN A LENDER FORECLOSE WHILE A LOAN MODIFICATION APPLICATION IS PENDING?

  can a lender foreclose-thumb-300x200-87706.jpgThe home is where the heart is, often filled with many of our life's memories as well as offering a treasured place of comfort and security. When that becomes threatened, you may find yourself exploring and exhausting every option before giving in to foreclosure.

Why Should I Hire a Foreclosure Defense Attorney?

If you are having trouble making mortgage payments, the threat of foreclosure is probably weighing heavily on your mind--and unfortunately, this is an issue that will only escalate if you do nothing. You are probably worrying about losing your home, finding another, and cringing at the thought of what will happen to your credit.

Bruce H. Levitt, Levitt & Slafkes, Presenter, New Jersey Institute for Continuing Legal Education (NJICLE)

-Webinar On Reverse Mortgages And History Of Home Equity Conversion Mortgage-

Maplewood, NJ -- Bruce H. Levitt, Managing Partner, Levitt & Slafkes, P.C., recently presented a webinar for the New Jersey Institute for Continuing Legal Education (NJICLE). Levitt and Victor Medina, Esq., discussed reverse mortgages as well as a brief history of the home equity conversion mortgage. The webinar was held November 22, 2016 and approved for CLE credits.

Sheriff Sale Process in New Jersey

In New Jersey when a mortgage or other lien secured by real estate goes into default the foreclosure process begins. After a mortgage lender has obtained a final judgment in foreclosure, they can schedule a Sheriff Sale. If you are facing this situation, it is important to know that it will not happen immediately, as there is a specific process that must be followed.

Charges Filed Against Foreclosure Rescue Fraud Duo

Many homeowners in crisis have turned to so-called foreclosure "rescue" firms. The owners of one such New Jersey foreclose rescue firm are being sued for allegedly violating state consumer fraud laws, as well as laws governing debt counseling and financial advertising.

New Webinar on Reverse Mortgages

Levitt & Slafkes is proud to announce that on November 7, 2016, attorney Bruce Levitt will be leading a continuing legal education webinar on the subject of reverse mortgages. Together with attorney Victor Medina of the Medina Law Group, these two attorneys will share their expertise in the area of reverse mortgages and share valuable insight on advising clients on reverse mortgages. To register for "Reverse Mortgages: Forwards and Backwards," click here.

Will Lil' Kim's New Jersey Mansion be Foreclosed?

Li' Kim's $3 million Alpine, New Jersey mansion faces foreclosure, proving once again that even the rich and famous can fall on hard times. Kimberly Jones, also known as Lil' Kim, has had a string of financial troubles, culminating in a 2010 foreclosure action on the property and an IRS tax lien of $127,000 this year. 

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