In Greene County, Adam Leitman Bailey P.C. Successfully Settles Foreclosure Action in Court and Takes Possession of Home
Adam Leitman Bailey, P.C. handles foreclosure actions throughout the state of New York. But unlike most of the other firms that do the same, Adam Leitman Bailey, P.C.’s own attorneys, who are fully knowledgeable in the case, make the appearances personally to get the actions favorably resolved for the lenders. Many judges in the upstate counties have become increasingly frustrated with firms sending per diem local attorneys with no background knowledge of the action and no real settlement authority. While it may appear to be cost-effective at first to hire local per diems, it generally results in continued appearances and adjournments, and, therefore, longer delays in settling and/ or being awarded a Judgment of Foreclosure and Sale.
In Greene County, Adam Leitman Bailey, P.C. was able to expedite the process and settle a foreclosure action by virtue of a deed in lieu of foreclosure. There, the borrowers previously indicated that they would work out a settlement, but, in practice, were continuously delaying. The Court scheduled a conference, and in anticipation of the conference, Adam Leitman Bailey, P.C. filed its motion for summary judgment and an order of reference. Adam Leitman Bailey, P.C. knew that a pending motion would put pressure on for the borrowers to actually settle. Additionally, prior to the conference, Adam Leitman Bailey, P.C. provided a status update to the Court and to the borrowers, presenting a deed in lieu offer. Negotiations took place prior to the conference, but the borrowers were unwilling to commit to a vacate date.
During the conference, Adam Leitman Bailey, P.C. raised all these prior points to the Judge and advised that the Lender was willing to settle, but the borrowers needed to agree to a vacate date. The Court agreed with Adam Leitman Bailey, P.C. and forced counsel for borrowers to immediately call the borrowers to confirm a vacate date. The borrowers ultimately agreed to vacate the premises within four months. The Court directed Adam Leitman Bailey, P.C. to paper the settlement, and it marked the case as disposed of by settlement.
This settlement resulted in the Lender bypassing a decision granting summary judgment and appointing a referee, the oath and report of the referee stage, the motion for judgment of foreclosure and sale stage, and the ultimate auction with likely bankruptcy filings to continue the delay. This settlement shaved off months-if not years- from the time period during which the Lender would be paying taxes, insurance, and legal fees and expenses, while the borrowers lived “for free”.
Jackie Halpern Weinstein, Esq., and Danny Ramrattan, Esq. of the Foreclosure Litigation Group at Adam Leitman Bailey, P.C. secured this result for its client and Danny Ramrattan appeared in Greene County State Court for the firm.
