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GMAC, Steven Baum Law Firm Face FORECLOSURE FIGHT in NY COURT

GMAC, Steven Baum Law Firm Face FORECLOSURE FIGHT in NY COURT

DING DING DING…Let the fight begin!

GMAC faces New York foreclosure brawl

By RICHARD WILNER
Last Updated: 1:36 AM, July 6, 2010
Posted: 1:31 AM, July 6, 2010

A Bronx homeowner is scheduled for a courtroom battle royale later this month — facing off in Manhattan bankruptcy court against the largest foreclosure mill in the state to see if the firm’s client, GMAC Mortgage, has the right to toss her from her Pelham Gardens home.

Also at issue is whether the law firm, Steven J. Baum PC, may have a conflict of interest problem.

The lawyer for the homeowner, David Shaev, claims in recently filed court papers that a Baum lawyer allegedly represented GMAC without disclosing she worked for Baum.

The thorny issue is of growing interest to New York judges — who last year faced more than 50,350 foreclosure actions, according to RealtyTrac, many of which were brought by banks that have sold or securitized the loans. Such actions make proving which entity owns the loan difficult.

<caption><strong>DAVID  SHAEV</strong><br>Fighting foreclosure.</caption>

DAVID SHAEV Fighting foreclosure.

That issue is key — banks that can’t prove they own a loan can’t legally foreclose. At times, lenders and law firms have been chastised for taking short cuts to gloss over the ownership issue.

Complicating matters is that most delinquent homeowners battle foreclosure actions without a lawyer and get steamrolled.

But that may be changing.

On June 3, Bankruptcy Judge Allan Gropper denied a bank’s attempt to move against a homeowner because it couldn’t prove it owned a mortgage.

Five days later, Brooklyn state court Judge Wayne P. Saitta, citing a bank’s “egregious” misrepresentation, awarded a homeowner $10,000 in sanctions when the bank tried to evict knowing it didn’t own the mortgage.

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in conflict of interest, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, GMAC, Law Office Of Steven J. Baum, Steven J Baum0 Comments

Delayed foreclosure adds to couple’s pain

Delayed foreclosure adds to couple’s pain

This is happening all over….Make sure you have everything in writing and do not let your gaurd down! You will get evicted…it’s part of the game!

They were evicted, and late fees and charges added over $20,000 to their mortgage.

By Stella M. Hopkins
shopkins@charlotteobserver.com
Posted: Sunday, Jul. 04, 2010

Loraine and Kerry Swope likely would have lost their south Charlotte home to foreclosure last year had they not been trying to resolve issues with their lender and get a loan modification.

They rejected an offer last summer from GMAC that would have reduced their monthly mortgage payment by 40 percent because of several concerns, including their contention the debt wasn’t valid. GMAC reviewed their account several times, and the Swopes tried a court appeal, which they lost. During the battle, late fees and other charges added more than $20,000 to what had been a $197,000 mortgage.

This May, during a morning rainstorm, the Swopes were evicted. They hadn’t finished loading their belongings.

“Everything sat outside and got rained on,” she said.

The Swopes’ saga started in the summer of 2007 with a relocation decision that snowballed into economic disaster.

They were drawn to Charlotte from Florida by the city’s bustle and banking industry. He was also seeking better medical care for complications from a knee replacement.

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in Eviction, foreclosure, foreclosure fraud, foreclosures, GMAC, mortgage modification0 Comments

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