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Queens Bankruptcy Attorney Bruce Feinstein Esq.'s
Bankruptcy Blog

Fannie Mae Lowers Wait on Mandatory Waiting Period for Mortgages After Bankruptcy, Short Sale and Foreclosure

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

Fannie Mae Lowers Wait on Mandatory Waiting Period for Mortgages After Bankruptcy, Short Sale and Foreclosure

Great news hot off the presses from Fannie Mae – now it’s easier to get a mortgage after bankruptcy, short sale, or foreclosure in New York.

Federal mortgage backer Fannie Mae declared important changes for people who are trying to secure a mortgage after bankruptcy. The mandatory waiting period for individuals who went through bankruptcy, short sale or foreclosure is now just two years instead of four. According to an article by The Mortgage Reports, “This is one year longer than the FHA’s minimum waiting period via the FHA Back to Work program, and a major improvement for conventional mortgage borrowers nationwide.”

Queens Bankruptcy Attorney Bruce Feinstein, Esq. Speaks About Rapper 50 Cent’s Disclosure Issues in Chapter 11 Bankruptcy

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

Queens Bankruptcy Attorney Bruce Feinstein, Esq. Speaks About Rapper 50 Cent’s Disclosure Issues in Chapter 11 Bankruptcy

Rapper 50 Cent is in the news again, and it’s not because of a new album. He is making his way back to bankruptcy court after posting several pictures of himself surrounded by piles of cash on social media.

The rapper filed for bankruptcy in July, but, according to a recent CNN article, “in court on Thursday, the judge told the rapper’s attorney: ‘I’m concerned about allegations of nondisclosure or a lack of transparency in the case.’”

Know Your Rights: How to Avoid Creditor Harassment

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

Know Your Rights: How to Avoid Creditor Harassment

New Yorkers struggling with debt can find the entire ordeal to be overwhelming and stressful. But sometimes creditors go to far. There are practices that cross the line from fair practice to harassment, and we have debt collectors use abusive collection tactics on our clients.

We also know that clients are often unaware these practices are unlawful, and don’t know their full rights as consumers. So we’re hoping to share some helpful information about what defines creditor harassment, and ways to stop it.

Start the New Year Right: Top Ten Money Matters of 2016

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

2016-top-ten

As the year wraps up, a perfect time emerges to look back on the year and seek ways to improve financial health in 2016. Our Queens bankruptcy office recently launched a top ten list of money matters to improve financial health in the New Year.

This list serves to benefit clients and readers who are dealing with debt and going through the bankruptcy process, as well as those who are simply looking to improve their financial outlook over the coming year.

Wells Fargo Settles Multi-Million-Dollar Payout to Homeowners in Bankruptcy for Not Providing Payment Notices

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

wells-fargo

Wells Fargo must pay $81.6 million to homeowners after the bank failed many times to give them legal notices on time during their bankruptcies. This case is a prime example of why it is so important for homeowners to maintain a paper trail of their financial proceedings.

The headlines turn once again to big banks, but instead of bailouts it falls upon the banks to pay back homeowners who weren’t given a fair chance. Big bank Wells Fargo recently agreed to pay out $81.6 million to homeowners after it missed the deadline to give them legal notices during their bankruptcy proceedings.

Donald Trump’s Four Chapter 11 Bankruptcies and the American View of Bankruptcy in Society

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

trump

Presidential candidate Donald Trump continues to gain media attention for the four bankruptcies his businesses went through over two decades, but he remains a frontrunner.

The 2016 presidential race is gaining momentum, and Republican candidate Donald Trump continues to make headlines for his financial past. This reflects the view that Americans can still have a normal life after going through the bankruptcy process. A recent article in The Street covers Trump’s complex financial history, primarily detailing the four bankruptcies his businesses have gone through since 1991. The real estate mogul often tries to distance himself from these bankruptcy filings in interviews and debates, but the fact remains that his connection with bankruptcy does not turn off his political supporters.

New Verdict Protects NYC Tenants of Rent-Controlled Apartments

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

 rentstabilizedbankruptcy

A recent court ruling  declares NYC landlords cannot seize rent-controlled apartments from tenants going through bankruptcy.

There are new legal protections for NYC tenants going through the bankruptcy process in New York. The decision comes after a ruling in case  12-4131 (Santiago-Monteverde v. Pereira) in the U.S. Court of Appeals for the Second Circuit in Manhattan. We wanted to share the information of this court case and the impact it may have on clients and people with rent-stabilized apartment who are http://bfeinsteinesq.com/filing-for-bankruptcy/ [filing for bankruptcy in New York City __title__ filing for bankruptcy in New York].

New Protections Against Debt Collection Abuse in New York Begin in 2015

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

new-debt-collection-rules

New legal protections against debt collection will help New Yorkers who are filing for bankruptcy or in debt.

New York will have some of the strongest debt collection laws in the country this year thanks to a series of regulations created by the New York Department of Financial Services. In this post we take a look at these new rules that aim to protect New Yorkers in debt who are at the mercy of abusive debt collectors and their practices. The majority of these new regulations go into effect on March 3, 2015, with the others beginning in August 2015.

Keep it or Close it? How Bankruptcy can Help a Struggling Business

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

bankruptcy small businessNew York businesses in financial trouble need to address bankruptcy options, and whether staying open or shutting down is a better option.

The start of the New Year usually brings with it a rise in bankruptcies filed by businesses that were too weak to be boosted by the holiday sales period. A recent Forbes Business article about retail bankruptcy shows how businesses try to use holiday sales as a last ditch recovery, but are unable to make enough profits. It says, “Every year there are retailers, struggling with inadequate cash flow and strained liquidity due to poor sales, and poorer profits, hope that by some stroke of luck they will pull themselves out of their financial morass as a result of strong Christmas sales.”

2015 is a time to make changes and keep resolutions, and some businesses need to decide whether to close their doors or continuing operating. So we kicked off this year by working with New York small businesses to find out which type of bankruptcy is the best choice for them, and whether staying open or shutting down is a better option. Let’s review the factors to consider when weighing the fate of a business, and the unique advantages to Chapter 7, Chapter 11, and Chapter 13 bankruptcy.

Bankruptcy Panel Proposes Reforms to U.S. Bankruptcy Law

Written by Bruce Feinstein, Esq. on . Posted in Bankruptcy Blog

bankruptcy_reformThe American Bankruptcy Institute’s Commission came up with an important set of reforms to U.S. bankruptcy law.

A panel of bankruptcy experts is urging lawmakers to make changes to bankruptcy law that could make the Chapter 11 bankruptcy process more efficient and cost effective. In this post we take a look at the proposed changes cited in the report, specifically those that would help small business and their employees.

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The Law Offices of Bankruptcy Attorney Bruce Feinstein, Esq. handles cases from all over New York including: Queens, Manhattan, Brooklyn, Bronx, Nassau County and Suffolk County Long Island

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