Tuesday, April 20, 2010

MORTGAGE FORECLOSURE SETTLEMENT CONFERENCE - NASSAU SUPREME COURT

A view observations from being a Volunteer Lawyer yesterday for Mandatory Settlement Conferences at Nassau Supreme Court:

1. The calendar call was about 70. I would "estimate" that about 10-15% of homeowners attended, with or without attorneys.

2. Most of the homeowners who sought a volunteer lawyer did not use a certified housing counselor. One consultation stated that they did seek a housing counselor but the counselor said they were better on their own....in so far as I did not speak to the housing counselor, I do not know their side of the story.

3. One had an attorney earlier but could no longer afford one.

4. Some were very much underwater. In one case, the homeowner's total debt was 200% of the home's value.

5. This is something I hear in Landlord/Tenant court and is something I will try to address in a late blog - many wanted to stay until their child finished the school year or a certain school level.

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