Eric T. Schneiderman, who is the New York Attorney General, as
well as the federal prosecutors in Manhattan are investigating the
practices of the largest mortgage foreclosure law firm in New York,
Steven Baum. Mr. Baum's law firm represents lenders such
as JP Morgan and Wells Fargo. In addition to the Steven Baum
law firm, the comany created by Mr. Baum, Pillar Processing is also
being investigated.
These investigations have been brought after courts across New
York have rejected many cases filed by the firm due to faulty
documentation of their forecclsoures. Fore example, last year
a Nassau County judge sanctioned the Steven Baum law firm with a
$5,000 penalty for bringing a foreclosure action with no legal
bases. Steven Baum was also ordered to pay $14,000 in fees to
the home owners attorney. The District Judge in that case,
Scott Fairgrieve stated "Bringing legal proceedings when
there is no legal right to do so, due to lack of standing, stalls
the efficient administration of justice in the system."
Steven Baum, although a major player in the world of New York
mortgage foreclosures in not alone in being accussed of bringing
faulty foreclosure proceedings against home owners. Attorney
Generals across the nation are investigating lenders for bringing
faulty home foreclosures across the country. Unfortunately
many homeowners have already lost their homes to faulty mortgage
foreclosures. If a foreclosure action has been brought
against you or someone you know, it is essential to get the legal
assistance of an experienced attorney in the area of mortgage
foreclosures.