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For all our clients who have remained in the fight to retain homeownership, there is much good news to be shared. The HAMP program has been extended through 2015. This should give everyone who has not yet participated in the modification review a very good reason to call our office.

We are also pleased to advise there are new and clear directives issued by the Consumer Financial Protection Bureau which require a servicer, within 5 days of receipt of a modification package, to respond and properly conduct themselves in that assessment.

The most important point of this email is to direct you to the Federal Housing Financial Agency's recent news releases. Beginning July 1, 2013 those of you who have a Fannie Mae or Freddie Mac loan and meet certain eligibility requirements, may participate in a streamlined modification process that eliminates so many of the administrative red tape barriers associated with document collection. Income documentation is no longer one of the benchmarks and we encourage our homeowners to revisit their loans and click on the Fanny Mae or Freddie Mac websites to see if your loan is owned or guaranteed by those agencies. If so, please feel free to contact our firm. We do not charge a fee for conversation. Your neighbors, friends and community members are welcome to contact us as well.

The key difference is borrowers are not required to document their hardship or financial situation. This may prove the start of a national referendum to help struggling homeowners make their payments. Do not hesitate to act. We wish all of you who have remained active in our firm our best regards and hope that these summer topics give you a very good reason to "KEEP HOME YOUR OWN".

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Rubin & Licatesi, P.C.
591 Stewart Avenue 4th Floor
Garden City, NY 11530

Phone: 516-712-2969
Fax: 516-227-3374
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Brooklyn Office
3857 Kings Highway Suite 1F
Brooklyn, NY 11234

Phone: 516-712-2969
Phone: 718-712-6864
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Bronx Office
3585 East Tremont Avenue
Bronx, NY 10465

Phone: 718-710-4880
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Current Clients: 516-712-2969