Friday, January 8, 2010


This was my experience at my first day of being a Volunteer Lawyer through the Nassau County Bar Association at the mandatory settlement conferences in Supreme Court:

1. Very few homeowners attended the conferences that were scheduled.

2. Out of the few that attended:

a. All of them were in default in the foreclosure action (no answer filed).

b. All of them had attempted loan modifications on their own with the assistance of counselors (Housing counselors from Nassau County are in attendance at the conferences as well to assist in loan modifications - these are free services.)

c. All of them had problems communicating with the bank and/or loan servicer in their attempts to obtain a loan modification.

d. Most of them had substantial income, assets, and substantial expenses. It appeared that in many circumstances, the value of the mortgage exceeded the value of the house and there were, in some cases, very high second mortgages.

e. Most involved the primary residence. But there are owners of "investment property", people who hoped to make money from "flipping" foreclosed houses, now in foreclsure themselves.

f. Besides myself, there was one other attorney.

Again, please note that the next Mortgage Foreclosure Consultation Clinic at the Nassau County Bar Association is on January 14 at 15th & West Streets, Mineola, NY 11501 Call ahead for times, etc. at (516) 747-4070.

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