State lawmakers hope changes to a successful foreclosure mediation program will grant homeowners struggling to hold on to their property more time and greater piece of mind.
Under the new proposal, which needs to by signed by the governor, lenders cannot proceed with any legal action for eight months.
“A lot of people were able to work things out within three months,” said state Sen. Bob Duff, D-Norwalk, who helped enact the original mediation effort in 2008.
According to records:
Attorney/Firm For Defendant: STEVEN J. BAUM, P.C.
Attorney Type: Attorney Of Record Atty. Status: Active
220 NORTHPOINTE PKWY SUITE G
AMHERST, NEW YORK 14228716-204-2400
excerpt…
NOW, IT IS ORDERED THAT EXECUTION OF ANY PUBLIC SHARES OF PLAINTIFF’S PROPERTY, LOCATED AT 135 OCEAN PARKWAY, UNIT 16-D, BROOKLYN, NEW YORK, 11218, SHALL BE STAYED PENDING THE HEARING OF THIS MOTION, AND SPECIFICALLY THAT DEFENDANT HSBC BANK USA, N.A. BE STAYED FROM EXECUTING A PUBLIC SALE OF PLAINTIFF’S SHARE OF STOCK ON JANUARY 13, 2011 at 2:OO P.M.
UNITED STATES BANKRUPTCY APPELLATE PANEL
OF THE NINTH CIRCUIT
In re: BAP No. CC-09-1396-HPDu
Bk. No. 09-15088-TD
FAWN RIDGE PARTNERS, LP,
FAWN RIDGE PARTNERS, LP,
Appellant,
v.
BAC HOME LOANS SERVICING, LP,
Appellee.
______________________________)
Submitted on March 18, 2010
at Pasadena, California
Filed – March 29, 2010
M E M O R A N D U M
VI. CONCLUSION
For the foregoing reasons, we REVERSE the bankruptcy court’s order granting stay relief to BAC. BAC is free to file a new motion for relief from stay if it can properly demonstrate its standing. 13
GREAT LOOK AT THE BANKS WAY OF TRYING TO GET AROUND THE BANKRUPTCY. HERE IS THE WAY THEY LOOK AT THE ASSIGNMENTS AND TRANSFERS. NOTE THE POOLING AND SERVICING AGREEMENTS ARE IMPORTANT. IT ALSO SCREWS THEM WHEN THEY TRY TO TRANSFER AFTER THE CLOSE OF THE TRUST.
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