Friday, February 18, 2011

They're in foreclosure, but we'll be paying

From the NY Times:

New York court officials outlined procedures Tuesday aimed at assuring that all homeowners facing foreclosure were represented by a lawyer, a shift that could give tens of thousands of families a better chance at saving their homes.

Criminal defendants are guaranteed a lawyer, but New York will be the first state to try to extend that pledge to foreclosures, which are civil matters. There are about 80,000 active foreclosure cases in New York courts. In more than half of them, only the banks have lawyers.

Under the procedures, which will be put in place in Queens and Orange Counties in the next few weeks and across the state by the end of the year, any homeowner in foreclosure who does not have a lawyer will be supplied one by legal aid groups or other pro bono groups.

Legal aid groups are expected to have foreclosure offices in the courts to handle the influx.

Legal aid groups will find the task of representing all foreclosure defendants easier if the State Legislature agrees to Judge Lippman's request for a $100 million increase in legal services programs spread over the next four years. Current financing for legal services in New York is about $200 million a year drawn from a variety of public and private sources.

16 comments:

Babs said...

what bullsh*t this is.

those who are the poorest of the poor will be the ONLY ones to be given legal services. Those who are lower middle and up will be FORCED TO HIRE LEGAL COUNSEL? Is this what this means?

All this does is support the legal community - NOT the homeowner.

Anonymous said...

This is outrageous - the poorest of the poor? Why did the banks give them mortgages? NYS should fine the banks at 50K a foreclosure for providing such a mortgage and preventing families being tossed for a while longer until they find shelter. This will slow foreclosure until a short sale occurs. Providing a lawyer for those wanting to hold onto their property that they didn't belong in in the first place is a Democrat idea that is plain wrong I am sorry to say.

Anonymous said...

When my husband and I wanted a house, we each worked two jobs to acquire the down payment. When we bought it, we put any extra money we had toward the principle each month. We paid off our mortgage and, boy, I really feel like an asshole. I could have let someone else take care of things for me!

Anonymous said...

Why are poor people who cannot afford counsel owning a home?

That is why they are losing their home, they are too poor to pay (and maintain) their home.

Anonymous said...

i love that people who make mistakes (as in people who think they can afford a 400k loan with a job at McDonalds), while, I, being respoinsbile, am footing the bill.

How is this justice????


My wife and I made sure NOT to over-buy. In fact, we are only two years into our mortage and we are able to put away 50% additional on each payment into the principal.

Its not that hard, but if you are dumb or just dont care, dont worry, my tax dollars will save you!!!!

Anonymous said...

The outcome will be the same. These losers have lost their house. The only difference is that this judge has gifted a few million to the lawyers to represent people who can't make the payments and who would be smarter not to drag out the foreclosure process.

Babs said...

" The only difference is that this judge has gifted a few million to the lawyers to represent people who can't make the payments and who would be smarter not to drag out the foreclosure process."

totally agree.

Legal work is not brain surgery - we CAN represent ourselves. It's easier today because of all the info on the internet - the forms are all there. The case studies are all online if needed for litigation purposes.

I would like to know if we - as middle class people - who do or did not need remedial English to enter college - HAVE TO HIRE AN IDIOT ATTORNEY now to rape - I mean represent us - in foreclosure proceedings!

This article is giving me that impression - is anyone else reading it the same way?

Anonymous said...

Some anon idiot wrote: "Providing a lawyer for those wanting to hold onto their property that they didn't belong in in the first place is a Democrat idea that is plain wrong I am sorry to say."

the whole concept of turning mortgages from a legitimate debt to an institution into a commodity sold to the next fool..and then specifically forbidding the Government from regulating this scan...stinks of -republican-.

Once banks no longer had to actually hold these instruments, all the incentive was toward volume -not quality.

You can't lie your way out of that fact.

Babs said...

"forbidding the Government from regulating this scan...stinks of -republican-."

agreed - "we need a cop on the beat".

Anonymous said...

Actually, those seedy too-good-to-be-true commercials seem to have started in the 1990s under Clinton - when Cuomo was HUD secretary.

Babs said...

actually - it was Reagan who deregulated the mortgage industry - tks for playing though!

Anonymous said...

Reagan - the architect of outsourcing.

Reagan - the architect of deregulation.

Reagan - A REPUBLICAN

Read your history books, children!

Anonymous said...

Anonymous said...

Reagan - the architect of outsourcing.

Reagan - the architect of deregulation.

Reagan - A REPUBLICAN

Read your history books, children!

That fraud wasn't even an "architect" of anything...just the smarmy front-man for the reactionary rightwing business lobby.

The Great Pitchman..just as he was for G.E. in the 1950's and a dozen others who lined his pockets.

The very fact that his handlers and consultants were able to successfully portray the BelAire squire as some "man of the people" is a testament to marketing and propaganda.

Babs said...

wow - good stuff!

Anonymous said...

So if that were the case, why did Clinton/Cuomo not put an end to it?

Anonymous said...

My parents bought our house completely outright. This is where the American mentality fails. Americans need to learn when to save, when to seek out loans and when NOT to use loans. Ex) Buying your home must be bought outright. Investment properties should be paid with mortgages ie second homes. Cars should DEFINTIELY not be bought with a car loans and FINALLY, SAVING!! I always thought the average American had at least $500k in savings (ie CDS money markets, etc. and other liquid assets) I was wrong b/c it seems Americans are very poor without their 401ks. BOOO! Shame on these homeowners in foreclosure. I have no sympathy on them. Let them be homeless.