December 6, 2011 is a National Day of Action to stop and reverse foreclosures. In 2008, we discovered bankers and speculators had been gambling with our most valuable asset, our homes–betting against us and destroying trillions of dollars of our wealth. Now, because of the foreclosure crisis Wall Street banks…
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From BizJournal: The embattled Steven J. Baum P.C. law firm is the closing its doors after a series of missteps that included mortgage industry giants Freddie Mac and Fannie Mae cutting off business with the Amherst-based firm. Baum has filed a Worker Adjustment and Retraining Notification notice with several government…
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MFY filed the first amended class action complaint Friday in the class action lawsuit against Steven J. Baum, P.C. MFY added Steven Baum personally as a defendant and another claim under a different provision of the FDCPA. A copy of the complaint can be found here. (22)
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From NYLJ: New York’s largest foreclosure law firm is fighting to overturn a state court requirement that it and other firms submit an affirmation vouching for the accuracy of documents they file for lenders. Supreme Court Justice Timothy J. Walker in Erie County held a hearing on Nov. 7 on…
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From Strictly Business Blog: National mortgage servicing giant Freddie Mac has barred its loan servicers from referring any new foreclosure or bankruptcy cases in New York State to Steven J. Baum PC, delivering a severe blow to a firm that depends on such work. According to a new bulletin posted…
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From USA Today: Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows. That’s about twice as long as a…
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Foreclosure mill, Steve J. Baum, and its employees find homelessness and poverty funny. Steven J. Baum is the largest foreclosure mill firm in the state of New York, and represents Citigroup, JPMorgan Chase, Bank of America, and Wells Fargo, among other mortgage lenders. A former employee sent photos of the…
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From Reuters: The Federal Housing Finance Agency said it was scrapping a cap that prohibited borrowers whose mortgages exceeded 125 percent of their property’s value from refinancing loans backed by Fannie Mae and Freddie Mac under the government’s Home Affordable Refinance Program (HARP). It also took steps to coax homeowners…
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