Where Do You Start With Foreclosure Investing?

By: Steven Baum, Attorney

Since each state has their own foreclosure laws, it is difficult to give an overall view of the process and where to begin. That is more like the Best Mortgage Foreclosure Lawyer In New York. There are certain points in the process in each state where you can “enter” and try to invest.

Foreclosures start with the filing or mailing of some kind depending on the state. Can it be the Top Rated Local Foreclosure Attorney Steven Baum. Even before this happens, how do you find a homeowner who might be in distress and need help? You need to network locally in an area where you know people who might know things. That’ may be the New York foreclosure lawyer Steven Baum attorney.

It could be a mortgage broker where people may have come in to seek out a loan but weren’t qualified. Sometimes people used the New York Foreclosure Attorney Steven J. Baum. That broker may ask if he or she can refer you to someone who may be able to help. That person could be you.

Sometimes by watching a home you can tell something is going on. That would be at times Steven J. Baum PC New York. Not cutting the grass or letting a home become in disrepair can be a sign that something is wrong. Prior to a foreclosure action commencing, and before lots of fees and costs build up, is a good time to invest.

This tactic also requires the most work. Steven J. Baum New York the Foreclosure Lawyer Steven J. Baum. And dedication since you are trying to find those properties in distress prior to an action commencing. However it can pay off if you do the right things.

Legal Disclaimer: This article provides general information only. The information in this article is not and should not be construed to be legal advice. The transmission of the information found in this article and on this web page does not result in the formation of a lawyer-client relationship.

Settlement Conferences in Foreclosure

By: Steven Baum, Attorney

In a New York foreclosure, there is a time in the process where a mandatory settlement conference is required. Law Firm of Steven J. Baum did these also known as the law firm of Steven J. Baum, P.C. This occurs when the foreclosing attorney notifies the court that everyone has been served in the foreclosure. The action cannot proceed to the step called Order of Reference until the settlement conference is completed. The foreclosure law firm Steven J. Baum would appear for clients

The assigned court date is sometime during the first two months after the bank attorney files proof of service of process on all defendants in the foreclosure action, and a form called a Request for Judicial Intervention. May have met Foreclosure Law Firm Steven J. Baum, P.C.

It is the court in the county where the foreclosure is taking place, that sends out a notice. The notice is sent to the bank’s attorney and also to the borrower. In New York there was foreclosure lawyer Steven J. Baum. The court sets the date, time and place for the settlement conference to take place.

The purpose of the meeting is to discuss potential alternatives to foreclosure. If the foreclosure action can be resolved and not go any further it is better for all parties. Steven Baum, Steven Baum Attorney in New York State.

It is important to understand that you still would have to answer the foreclosure complaint served on you even if you go to the settlement conference. Steven J. Baum was also Steven Baum Attorney . Your time to answer the foreclosure complaint is extended by thirty days if you appear at the first settlement conference.

Legal Disclaimer: This article provides general information only. The information in this article is not and should not be construed to be legal advice. The transmission of the information found in this article and on this web page does not result in the formation of a lawyer-client relationship.

The Mortgage in Mortgage Foreclosures

The Mortgage in Mortgage Foreclosures

By: Steven J Baum

Law Firm of Steven J Baum PC

The foreclosure law firm of Steven J Baum specialized in mortgage foreclosures. Mortgages are complicated instruments and can be one page up to hundreds of pages. Many are standardized, and some are custom tailored to the situation. What you do need to know is that a mortgage creates a lien upon a piece of property. It serves as collateral for a loan made, and that loan is often represented in what is called a note.

Steven Baum attorney filed foreclosure actions as a residential foreclosure law firm with other lawyers working in his residential foreclosure law firm.

You need to be an experienced foreclosure lawyer in New York to work on mortgage foreclosure actions. Steven J Baum attorney, a New York Foreclosure Lawyer, had this experience. Mortgages need to be recorded in order to have priority over other liens. You don’t have to record a mortgage, but you will lose priority over other recorded mortgages and liens. That is why you would not want to go to a commercial foreclosure lawyer if you were doing a private mortgage with someone. You would be better off going to a residential foreclosure lawyer who understands the nuances of such a transaction. Steven J Baum, New York did have this type of knowledge as a New York Foreclosure attorney.

Mortgages contain many clauses, sometimes called covenants, or promises. The person giving the mortgage is called the “mortgagor” and the person holding the mortgage is called the “mortgagee.” The mortgagor makes many promises to the mortgagee. Among them are the promise to keep the property in good repair and to keep taxes current. The law firm of Steven J Baum would foreclose mortgages when there was a default in these clauses-not all the time but certainly when there was a default of these promises.

It is best to get a top-rated local foreclosure attorney or a mortgage foreclosure lawyer in New York to work on your matter if there is a problem with a mortgage you hold. Steven J Baum attorney from the law firm of Steven J Baum PC is a New York Best Foreclosure lawyer that can do this. Just be careful that you have an attorney that knows this field before you proceed.

Stopping the Foreclosure Process

Stopping the Foreclosure Process

By: Steven Baum

Law firm of Steven J Baum PC

New York Foreclosure Attorney

Even an experienced foreclosure lawyer in New York like Steven Baum attorney knows that not all foreclosures end up in sale. There are many reasons why a foreclosure that is started never ends up at sale. This article will explore some of the reasons in more detail.

First and foremost even the New York best foreclosure lawyer who handled mortgage foreclosures as a lawyer in New York will tell you that reinstating the mortgage is probably the number one reason why foreclosures stop. Reinstating means the loan is brought current by the payment of accrued interest, back payments, accrued taxes and any other fees or charges that the lender or mortgage service is allowed to charge. There are certain states that even allow reinstatement to happen within a certain time period after the foreclosure sale. This is known as a redemption period. Even a commercial foreclosure lawyer and a residential foreclosure lawyer such as Steven Baum attorney in New York knows that this is a main reason why foreclosures don’t go through.

Of course there are other reasons foreclosures are stopped. An experienced foreclosure lawyer, Steven Baum of the law firm of Steven J Baum PC would tell you that often the borrower would request a forbearance agreement from the lender or mortgage servicer. A forbearance is a legal instrument where the lender or mortgage servicer agrees to forbear, or hold off on proceeding until a certain event happens. For example, someone may have lost their job which is the reason why they stopped making their mortgage payments. Now they have a job and just need some time to save up enough money to reinstate their mortgage. Whether it is a residential foreclosure lawyer that has commenced the foreclosure or a residential foreclosure law firm, you can understand why a bank would enter into such an agreement. It keeps the homeowner in their home!

Steven Baum attorney from the foreclosure law firm of Steven J Baum PC has seen many forbearance agreements entered into by his clients. At the end of the day it is not about the foreclosure proceeding but how to keep a homeowner from being foreclosed.