The number of U.S. homes in foreclosure is at an all-time high. Foreclosure is when a homeowner is unable to maintain their mortgage payments and the bank starts a proceeding to take possession of their home. Many foreclosures were deemed invalid due to improper procedure. Some acquisitions and negotiations were not done in good faith. Good faith is where the parties in a transaction, use honesty and their best efforts in dealings with others. Â In the case of foreclosure of homes, bankruptcy may be an option to prevent homelessness.
In a New York Law Journal article, September 10, 2013, the plaintiff was deemed to have not acted in good faith. The case was sent to a â€œbad faith hearingâ€ by Special Referee Goldstein. A special referee is assigned to a case to look at facts and give findings to the judge. The court confirmed the findings of Special Referee Goldstein. Therefore, the plaintiff had no right to foreclose the home.
Large businesses may try to take advantage of individual citizens. It is always good to have legal professional, on your side to protect you. Attorney Jayson Lutzky may help individual you, against the large corporations. If bankruptcy might be an option, then contact attorney Jayson Lutzky. Mr. Lutzky has 30 years of experience practicing law. You may contact him at 1-800-660-5299, for a free initial in person consultation. You may also visit www.MyNewYorkCityLawyer.com for more information.