New York foreclosure attorney, Steven Baum has agreed to a $4 million settlement with the New York State Attorney General, Eric Schneiderman, in a suit alleging that his firm and staff mishandled numerous foreclosure cases. Baum’s firm generated the largest number of foreclosure filings in New York from 2007 to 2010. In this three-year span, the firm filed around 100,000 foreclosure proceedings. Schneiderman intends for this case to set the precedent that attorneys and lenders will be held accountable in his district for wrongful mortgage and foreclosure practices.
Some of the malpractices by the Baum Firm included:
• The firm repeatedly claiming the plaintiff to be the holder of the note, when there was no documentation to prove this statement;
• In many cases the firm used a separate company for much of the processing. By use of the separate company, the firm intended to speed up the documentation process in order to file more foreclosures and increase their own profit;
• Employees from the firm often times were not authorized, trained, or certified to sign off on or handle documents they were signing;
• Many times documents were “pre-signed” without ever being read by an attorney.
Even after the settlement Baum still claims no wrong-doing by him or his firm, saying the Attorney General never disclosed a specific case where his firm preceded with foreclosure on a person whose loan was not in default.
To read more on this story visit: http://www.bizjournals.com/buffalo/news/2012/03/22/baum-settles-with-ag-will-pay-4m.html?page=all
Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Foreclosure defense attorney, Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.
