Author Archive

September 4, 2008 An attorney’s two cents on New York City Debt Settlement

By: Daniel Gershburg
My oh my how far these collection agencies have gone. I am now hearing stories about collection agencies threatening to put liens on homes and put them up for Foreclosure if credit cards debts aren’t paid back. A little tip. When you hear that, or any threat for that matter, [...]

August 24, 2008 Brooklyn’s new construction condominiums may cause real problems

By: Daniel Gershburg, Esq.
First the good news from this Brooklyn Real Estate attorney:  Many new condominiums in downtown Brooklyn are realizing that the Real Estate market is not what it once was and are offering a myriad of concessions including paying transfer taxes, saving potential purchasers thousands of dollars in closing costs.
Now the bad news:  [...]

August 13, 2008 When you shouldn’t buy your dreamhouse

By: Daniel Gershburg, Esq.
Looking to purchase your first home in new york city? Are you looking for a mortgage in Brooklyn?  Lets face it.  Everyone gets caught up in the moment when they are looking to purchase their first home in New York.  The idea of ownership, culminating from several years of saving up funds [...]

August 5, 2008 How a TV warranty can cost you $50,000 in home ownership costs.

By: Daniel Gershburg, Esq.
The title of this article is meant to be attention grabbing, but it is in fact true.  How is that possible you ask?  In order to answer that question, we need to have a small discussion about credit scores and their relation to mortgage rates.
As you undoubtedly constantly read and hear, your [...]

July 29, 2008 Purchasing a home in New York if it appraises for less than the price paid

By: Daniel Gershburg, Esq.
A client recently asked this question when he was considering whether or not to make an offer on a home that he liked.  The short answer is no.  Although there are certain issues to be cognizant of.  In a typical home sale, be it in Brooklyn, or anywhere in New York, you [...]

July 25, 2008 Can I file for Bankruptcy in New York if I own a home in Florida?

By: Daniel Gershburg, Esq.
Yes you can.  So long as you have been domiciled in New York for 180 days prior to filing your Bankruptcy peitition in New York, you can in fact file for Bankruptcy in New York even if you own a home in Florida.  Our office has been receiving this question more frequently [...]

July 24, 2008 Why Indy Mac Bank is just the beginning….

By: Daniel Gershburg, Esq.
 
The collapse of Indy Mac Bank last week was not a surprise to many in the industry.  Washington Mutual’s stock tumbling to $3 was not a surprise to many in the industry.  A federal bailout to Fannie Mae and Freddie Mac was not a surprise to many in the industry.  If this [...]

July 23, 2008 Short Sale of your New York home

By: Daniel Gershburg, Esq.
A client came into my office recently to discuss the possibility of “shortselling” her home.  She was advised of this option by a “mortgage specialist” that she had consulted with.  The mortgage “specialist” advised her that she could sell her home for less than what the mortgage she owed was.  Furthermore, the [...]

July 22, 2008 Know your Bankruptcy Attorney

By: Daniel Gershburg, Esq.
It gives me a really special feeling inside when I go to a trustees meeting and see either of the following:
1. An attorney meeting with 6 of his/her clients at the same time to discuss the questions that will be asked even though each clients case may have its own issues and [...]

July 21, 2008 The Bankruptcy Lifestyle

By: Daniel Gershburg, Esq.
Let me just say that there are certain things Bankruptcy can do and certain things it cannot.  If you come to our firm to get a fresh start and you meet certain requirements under the Bankruptcy Code, rest assured you have a good chance of erasing your unsecured debt and getting a [...]