Black & LoBello on AM720 KDWN

On August 12, 2013, in Commercial Real Estate, Divorce, Foreclosure, Landlord & Tenant, Legislation, by blacklobellolaw

Tune in as Black & LoBello offers free legal advice on a wide range of topics

Click here to listen to the Legal Hour on KDWN AM720 from July 31st, 2013 in which Managing Partner, Tisha Black Chernine, Esq. discusses eviction notice time periods (2:10), changes to AB 284 (5:00), latest Case-Shiller home price index report (8:10), unpaid HOA fees in collections (9:45), commercial properties in a divorce (15:30), how to check against wrongful foreclosure (19:45), bought and sold loans (25:40), buying and selling homes in Nevada (29:10) and loan documentation requests (32:35). 

Please tune in to AM720 KDWN’s “Legal Hour,” every Wednesday, from 9 AM to 10 AM.  Listen live on the radio or online.   Feel free to call in with your comments or questions at 702-257-5396.

To listen to past shows, visit our Media page.

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Black & LoBello on AM720 KDWN

On April 29, 2013, in Business, Foreclosure, Legislation, Mortgage, Real Estate, by blacklobellolaw

Tune in as Black & LoBello offers free legal advice on a wide range of topics

Click here to listen to the Legal Hour on KDWN AM720 from April 24th, 2013 in which Managing Partner, Tisha Black Chernine, Esq. discusses checks from the Multi-State Settlement (1:20)(13:30)(19:25), Homeowners’ Bill of Rights (6:00), HOA foreclosures (10:30), Cash for Keys program (15:45), credit impact of foreclosure (22:40), class action suits involving Fair Debt Collection Practices Act (26:50), rising Housing Price Index (30:00), transitioning out of a business (33:00) and statute of limitations for collections on a 2nd mortgage (37:00).

Please tune in to AM720 KDWN’s “Legal Hour,” every Wednesday, from 9 AM to 10 AM.  Listen live on the radio or online.   Feel free to call in with your comments or questions at 702-257-5396.

To listen to past shows, visit our Media page.

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Off-shore Accounts Scrutinized, Foreign Banks Turning Away Americans

On May 10, 2012, in Business, Corporate, by blacklobellolaw

Following recent discussions in Washington D.C. with U.S. Treasury Officials, the Ministry of Finance announces the formation of a new task force to evaluate the suitability of a government-to-government reporting arrangement for the implementation of the U.S. Foreign Account Tax Compliance Act (FATCA) in the Cayman Islands.  Click here to read the full article.

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NY Case Accuses Big Banks of Money Laundering

On May 4, 2012, in Business, Corporate, Real Estate, by blacklobellolaw

One of the most recent efforts to bring the big banks to task over their role in the nation’s real estate crisis is a New York lawsuit, Abel v. BAC Home Loans Servicing LP et al, alleging international money laundering by Bank of America as well as other major federally chartered banks.  The lawsuit alleges that Bank of America, JP Morgan Chase, Citibank, Citigroup, 1 West and Wells Fargo have been moving trillions of dollars into offshore accounts without properly disclosing those transactions on their balance sheets.

When a property forecloses and sells in a Trustee sale, the servicer of the loan takes its fees for servicing the foreclosure as well as other fees.  The remaining funds from the sale are supposed to go to the new owner of the loan.  Finally, the old debt is supposed to be discharged.  However, the big banks are being accused of diverting that remaining money into off-shore accounts which earn interest.  Meanwhile, they are NOT crediting the previous loan and discharging the debt.

In their defense, the banks claim that since they don’t know who the new investors are, they can’t pay them the money while conveniently earning interest off those investments.  Ironically, that same argument has been used by struggling homeowners who want to mediate their loans to avoid foreclosure.  In typical fashion, where the homeowner suffers, the banks profit.

Transferring money to offshore accounts is not illegal if done correctly.  However, by not fully disclosing the transfers and failing to discharge the old debts, the banks may be in violation of money laundering statutes and the Patriot Act.

This case brings to the forefront yet another aspect of how sloppy paperwork and accounting has been a standard business practice of the big banks.

Tisha Black Chernine, Esq.

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Black & LoBello on AM720 KDWN

On May 3, 2012, in Asset Protection, Estate Planning, Foreclosure, Legislation, Real Estate, by blacklobellolaw

Tune in as Black & LoBello offers free legal advice on a wide range of topics

Click here to listen to the Legal Hour on KDWN AM720 from May 2nd, 2012 in which Managing Partner, Tisha Black Chernine, Esq., hosts special guest, Jeffrey Morse, Esq., Special Counsel to Withers Worldwide.  Ms. Black Chernine and Mr. Morse discuss Abel v. BAC Home Loans Servicing LP et al, a current case in New York alleging that banks are laundering money overseas (2:15), problems with the stress tests for the major banks (12:40), tips for investment including real estate and offshore accounts (16:40), how to check house foreclosures (21:27), real estate agent unfair practices (25:30),  problems getting a loan modifications (29:30) and tips for successful asset protection (34:40).

Please tune in to AM720 KDWN’s “Legal Hour,” every Wednesday, from 9 AM to 10 AM.  Listen live on the radio or online.   Feel free to call in with your comments or questions at 702-257-5396.

To listen to past shows, visit our Media page.

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Black & LoBello on AM720 KDWN

On February 16, 2012, in Foreclosure, Real Estate, Short Sale, by blacklobellolaw

Tune in as Black & LoBello offers free legal advice on a wide range of topicsClick here to listen to the Legal Hour on KDWN AM720 from January 18th, 2012 in which Managing Partner, Tisha Black Chernine, Esq., discusses some of the different fraud schemes related to the real estate crisis (2:00)(14:20), whether AB 284 can help during a short sale (10:35), steps to take when setting up a small business (17:28), rent-to-own properties (30:50) and strategy for renting properties (34:48).

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM.  Listen live on the radio or online.   Feel free to call in with your comments or questions at 702-257-5396.

To listen to past shows, visit our Media page.

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Black & LoBello on AM720 KDWN

On January 23, 2012, in Foreclosure, Mortgage, Real Estate, Short Sale, by blacklobellolaw

Tune in as Black & LoBello offers free legal advice on a wide range of topicsClick here to listen to the Legal Hour on KDWN AM720 from January 4th, 2012 in which Managing Partner, Tisha Black Chernine, Esq., discusses recent case law regarding homeowners’ right to sue lenders under HAMP or HAFA (2:40), how to dispute NODs (4:05), the book Chasing Goldman Sachs by Suzanne McGee and what it says about how Fannie Mae and Freddie Mac operate and other controversies of the current economic crisis (10:16)(23:00)(38:02), how to deal with bank lawsuits (12:50), refinancing an underwater property with Fannie Mae (19:00), how the securitization process avoids taxes (33:55) and how AB 273 can protect homeowners from being pursued by banks (32:56).

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM.  Listen live on the radio or online.   Feel free to call in with your comments or questions at 702-257-5396.

To listen to past shows, visit our Media page.

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Black & LoBello On the Radio

On November 8, 2011, in Foreclosure, Mortgage, Real Estate, by blacklobellolaw

Click here to listen to the Legal Hour on KDWN AM720 from November 2nd, 2011 in which Managing Partner, Tisha Black Chernine, Esq., discusses buying foreclosed homes, different types of deeds, notice of default, Assembly Bill 284,  how to spot and clean up problems with a property title and Supreme Court cases that affect foreclosures.

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM.  Listen live on the radio or online.   Feel free to call in with your comments or questions at 702-257-5396.

To listen to past shows, visit our Media page.

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AB 284 Starts October 1, 2011

On September 30, 2011, in Foreclosure, Legislation, Real Estate, by blacklobellolaw

Assembly Bill 284, called the “Foreclosure Reform Law”,  goes into effect tomorrow, October 1, 2011. Tisha Black Chernine participated in a working group along with Nevada Attorney General Catherine Cortez Masto and Nevada Assembly Majority Leader Marcus Conklin in order to give Nevada residents critical information regarding foreclosure and create transparency in the process. All Notices of Default filed after September 30, 2011 are required to be accompanied by an “Affidavit of Authority.” In addition, the law provides a private right of action for consumers which includes a mandatory $5,000 fine and attorneys fees for any victim of foreclosure fraud. For a copy of the  Affidavit of Authority form suggested to be used by foreclosure trustees in the state of Nevada, click here.

Tisha Black Chernine, Esq.

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Black & LoBello on the Radio

On August 30, 2011, in Asset Protection, Foreclosure, Landlord & Tenant, Real Estate, by blacklobellolaw

Click here to listen to the Legal Hour on KDWN AM720 from August 24nd, 2011. Managing Partner, Tisha Black Chernine, Esq., discusses commercial leasing, the motivations of banks to foreclose, assets protected from creditors, exposure of co-signers on mortgage loans and statutory defective foreclosures.

Please tune in to AM720 KDWN’s “Legal Hour,” everyday, from 9 AM to 10 AM.  Listen live on the radio or online.   Feel free to call in with your comments or questions at 702-257-5396.

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What are some legal defenses I can use against foreclosure?

On February 15, 2011, in Foreclosure, Mortgage, Real Estate, by blacklobellolaw

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Channel 13 Investigation of Bank of America

On May 11, 2010, in Mortgage, Real Estate, Short Sale, by blacklobellolaw

Local news station, Channel 13 Action News, investigates Bank of America, the largest home mortgage lender in Nevada.  Read the full story here. 

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Two Programs Help Nevada’s Foreclosure Rate

On April 19, 2010, in Finance, Mortgage, Real Estate, Short Sale, by blacklobellolaw

Just as it has for the past 13 quarters, Nevada continues to lead the nation in foreclosures during the first quarter of 2010.  One in every 33 Nevada housing units received a foreclosure filing which is more than four times the national average and an increase of nearly 15 percent from the previous quarter.

However, the number of Nevada houses to receive a foreclosure filing in the first quarter of 2010 was down 16 percent from the first quarter of 2009.  This decrease may be related to the success of the Nevada Foreclosure Mediation Program (NFMP) and the Making Home Affordable Program (HAMP).

The NFMP program is designed to help borrowers and lenders mediate a resolution dealing with distressed properties.  Homeowners must submit their Election of Mediation form along with a $200 fee within 30 days of receiving the Notice of Default.  Within 10 days after submission, the case is assigned to a mediator and mediations are scheduled within 80 days of the date the foreclosure notice was recorded.

The HAMP program is designed to help as many as 3 to 4 million financially struggling homeowners nationwide avoid foreclosure by modifying loans to a level that is affordable and sustainable for borrowers.  A borrower can check to see if their loan servicer is participating in HAMP by going to the Making Home Affordable website.  Borrowers are eligible for the program if they meet the following criteria:

  • The borrower is delinquent on mortgage payments or faces imminent risk of default;
  • The property is the borrower’s primary residence;
  • The mortgage originated on or before January 1, 2009; and
  • Unpaid principal balances must be no greater than $729,750 for one-unit properties.

Through March 2010, roughly 210,000 people nationwide and over 6,400 Nevadans have received permanent modifications under HAMP.

Randy M. Creighton, Esq.

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Nevada Foreclosure Mediation Program Helps Thousands of Homeowners

On December 7, 2009, in Mortgage, Real Estate, by blacklobellolaw

bILLSNevada Supreme Court Justice James W. Hardesty announced that more than 3,400 homeowners who received notices of default have requested mediation in the Nevada Foreclosure Mediation Program as they seek to hold on to their homes.  Since the program first began on July 1, 2009, 372 mediations have been conducted and another 805 mediations have been scheduled.  An additional 1,401 cases have been assigned to mediators, who are working to schedule and hold those mediations within 90 days of the notices of default being recorded.  Justice Hardesty announced that the statistics are current as of November 16, 2009

Important Note to Homeowners:  If you receive a “Notice of Default and Election to Sell,” you must sign the application form and mail it with $200.00 in certified funds within 30 days from the day you receive your notice to seek mediation.  You should receive two copies of the application form.  Sign both and mail them in the supplied envelopes.  Mail one copy of the application and your $200.00 certified funds using the supplied envelope addressed to the Nevada Foreclosure Mediation Program Office.  If you do not receive any application forms or envelopes, contact the Foreclosure Mediation Program

Currently, the Foreclosure Mediation Program has 95 mediators who have been appointed by the Supreme Court.  Those mediators have all been through rigorous training designed to teach the mediators the intricacies of the mortgage loan and foreclosure process and some mediation techniques.  Another 80 mediators have been trained recently and the Supreme Court will select from the list of those who successfully completed the training.

Justice Hardesty provided the following statistics regarding the program:

  • Notices of Default filed:                 29,242 (July through October)
  • Requests for mediation:                3,446
  • Mediations conducted:                  372
  • Mediations scheduled:                   805
  • Cases processed and
    ready for mediations
    to be scheduled                               1,402

(All statistics beginning July 1, 2009, and as of November 16, 2009 unless noted)

Carlos L. McDade, Esq.

Mediator

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