Fannie Mae and Freddie Mac, the nation's biggest mortgage underwriters through purchases on the secondary market of loans, have said they will not allow borrowers who have walked away from their loan for strategic reasons (i.e., the loan was under water but they could still afford to pay).  This decision is counter to intelligent policy and will saddle Fannie and Freddie with decisions it cannot possibly make. As both of these entities are owned by the Federal Government, they should be opera...
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The New York Times had an important front page story yesterday in regard to debt modification or debt settlement agencies. These for profit companies take large fees upfront while making extravagant promises as to what they can do for you.  Most of the time, people end up being sued for their debts or foreclosure and end up with nothing for the fees and aggravation.  A licensed attorney can help you with defending against lawsuits, negotiating settlements or a bankruptcy filing. Contrary to w...
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The New York Times has a front page story on how those in foreclosure are living for long periods of time without paying anything, while the slow foreclosure process grinds itself out. Good idea to have a lawyer to help you drag out the judicial process and ensure your legal rights are protected. Please call me at 201-289-5352 for information on how I can help, affordably. 
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I have a new column up at NewJerseyNewsroom on what to do when you fall behind on your mortgage.  Click here for the full piece.
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Today it appears that the Stuyvesant Town purchase by Tishman Speyer and its partners will go down as one of the biggest real estate flops ever.  The huge residential complex was purchased for $5.4 Billion in 2006, and never really made much sense.  As the New York Times is reporting, Tishman Speyer and Blackrock are planning to default on this months mortgage payment. This deal would have fallen apart even had the economy not tanked, and it would probably be best if the mortgage lenders just...
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