MFY joined more than 100 organizations in demanding that the Office of Mortgage Settlement Oversight enforce the national mortgage settlement’s servicing reforms and fair lending requirements and ensure transparency in banks’ reporting of consumer relief activities.
In a March 21, 2013 article in the Huffington Post, MFY Attorney Elizabeth Lynch comments that the FHFA report showing banks’ failure to report homeowner complaints of mortgage abuses is further evidence of the failure of government regulations to protect homeowners.
In a February 18, 2013 Op-Ed in the New York Times, MFY Attorney Elizabeth M. Lynch reveals how flaws in government settlements with banks have failed to stem foreclosures and keep people in their homes.
MFY Legal Services, Inc. and the MinKwon Center will hold a workshop for Korean homeowners facing foreclosure or having difficulty in making mortgage payments on Tuesday, Feb. 19, from 7-9 pm at the MinKwon Center, 136-19 41st Avenue, 3rd floor, in Flushing. More information here.
MFY foreclosure attorney Elizabeth Lynch comments in articles in the New York Post and The Queens Ledger on a new wave of foreclosures in Queens that is affecting middle-class homeowners who have fallen behind on mortgage payments due to loss of employment or other financial problems related to the poor economy.
MFY foreclosure attorney Aaron Jacobs-Smith comments on the problems faced by homeowners with stalled foreclosure cases in the “shadow docket,” in Bloomberg News. MFY’s Foreclosure Prevention Project represents homeowners in Brooklyn, Queens, and Staten Island.
Attorneys from MFY Legal Services and South Brooklyn Legal Services who are assisting Hurricane Sandy victims found that many banks are refusing to offer their customers any kind of meaningful mortgage relief, severely hampering their ability to rebuild their homes and stabilize their lives. The Huffington Post explores the issue.
Delays by banks and their mortgage servicers in negotiations for affordable loan modifications damage homeowners as their loan balances swell with interest and fees. In an amicus brief to the Appellate Division, MFY and others urge the court to interpret the good faith standard broadly, so that lower courts remain able to effectively enforce the …
MFY joined New Yorkers for Responsible Lending in calling upon the Consumer Financial Protection Bureau to adopt stronger rules governing mortgage servicers to better protect homeowners facing foreclosure.
In a letter to the editor of the New York Times, MFY shows how Fannie and Freddie Mac’s refusal to reduce mortgage principal will blight once thriving neighborhoods and add to taxpayers’ burdens.