By Victoria Falk What do you do when “I do” turns into “I don’t,” and you can no longer stand to be in the presence of the person that you imagined you would spend the rest of your life with? You vowed to be together “…for better, for worse, for richer, for poorer, in sickness…
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BK Property Owner Who Accuses Emigrant Bank of ‘Predatory’ Lending Gets Extension on Foreclosure
By Will Fritz, BK Reader A Brooklyn property owner facing foreclosure after a years-long battle with her bank, who she accuses of engaging in “predatory” lending practices, has received a welcome reprieve — for now. Victoria Stennett’s 16-unit apartment building in Flatbush was supposed to be foreclosed on by Emigrant Bank on March 1. However,…
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Understanding the Foreclosure Process & Common Defenses
Foreclosure is a legal process by which a lender takes possession of collateral pledged to secure a loan. Because it is a complex legal action, and because there are few resources for homeowners, vehicle owners, and other borrowers to research precisely how a foreclosure works, being involved in such an ordeal can be both stressful…
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Buying a Foreclosure: 5 Things to Know
Buying a property out of foreclosure can be a very smart move, financially. But it can also be complicated, expensive, and stressful. Here are 5 things to keep in mind before you take a first step in that direction: Cash or Preapproval Required Buying a house that has been returned to the lender through foreclosure…
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What to Expect When Facing Judicial or Non-Judicial Home Foreclosure
By Janet Howard Recent surveys show that a significant number of Americans are unprepared to handle an unexpected bill of $500. As many as 80% of Americans live paycheck to paycheck. A sudden job loss, illness or accident can create financial chaos. For anyone paying off a home mortgage, foreclosure and the impending loss of…
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