NY Atty. Gen. Fights Zombie Forclosures

In an attempt to help homeowners remain in their homes longer, as well as stop the spread of abandoned properties and eliminate the blight these homes create, the New York state Attorney General has initiated legislation that would specifically allow homeowners to remain in their homes while facing foreclosure until that process has been completed in the lenders' favor. Additionally, it would prohibit lenders from harassing homeowners or other legal residents while they remain in the property pending the final foreclosure decision. If you own or legally live in a home in New York state and are having problems along these lines with your lender or its representatives, give the NY AG a call. It's (800) 788-9898.The address is Office of the Attorney General; The Capitol; Albany, NY 12224. Good Luck.

Wells Violated Agreement Terms

If you have a mortgage from Wells Fargo, and are trying in vain for a loan mod, the following may be of interest to you. A Federal judge in northern California recently ruled that Wells had breached the terms of its settlement agreement on loan mods by using "evolving and perhaps ill-defined standards" in determining which borrowers were eligible for loan mods. By using standards to determine who got a mod and who didn't, Wells allegedly was increasing the difficulty that borrowers faced when trying to qualify for a mod. If you've had problems recently in getting your loan modified, check into it. Contact Wells and the Controller of the Currency to discuss your situation, and, while you're at it, you may wish to consider having your attorney join the conversation. As always, Good Luck.