Starting January 2, 2022, borrowers negotiating a loan
modification have a right to a single point of contact at their lender.
On November 3, 2021, Governor Hochul signed BillS671 into
law, which amends Section 6-o to the banking law, and starting on January 3,
2022, upon written request by the borrower, lenders will...
Showing posts with label Loan Modification. Show all posts
Showing posts with label Loan Modification. Show all posts
Wednesday, November 10, 2021
Tuesday, August 24, 2021
24
Aug
Take a read of Maura McDermott's latest article in Newsday, "NY's COVID-19 foreclosure ban is set to expire, but homeowners can still get help," where she quotes our very own Leslie Mendoza, Esq.Leslie explains that while the "[t]he state’s temporary foreclosure ban 'merely delays any kind of discussion between the borrower...
Wednesday, May 13, 2020
13
May
You can't just decide to stop paying your mortgage without consulting with your Lender.
In Episode 42, Andrew and Lauren breakdown the cost/benefit analysis of whether you deserve a mortgage modification. We discuss foreclosure lawsuits, mortgage terms and what motivates a modification from your lenders perspective....
Friday, January 10, 2020
10
Jan
On December 20, 2019, Public Law No: 116-94 extended 26 USC 108(a)(1)(E) to 1/1/2021.
According to the IRS, this law "allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection...
Wednesday, March 08, 2017
08
Mar
On
Monday, February 27, 2017, Fannie Mae, acting as
administrator of Home Affordable
Modification Program (HAMP), implemented portions of the Supplemental
Directive 16-02
regarding the termination of Making Homes
Affordable Program (MHA).
Now,
borrowers who have applied for a modification on or before the termination...
