With More Loan Defaults, 2 Conn. Firm...

With More Loan Defaults, 2 Conn. Firms Reap Millions

There are 137 comments on the Hartford Courant story from Jun 22, 2008, titled With More Loan Defaults, 2 Conn. Firms Reap Millions. In it, Hartford Courant reports that:

The foreclosure attorneys who crowd into Judge Samuel Freed's courtroom in Hartford each Monday typically come with only a file or two tucked under their arms as they line up for the orderly process of ...

Join the discussion below, or Read more at Hartford Courant.

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Paul

Meriden, CT

#1 Jun 22, 2008
Well those are two firms I will never ever do business with or recommend to others. How can they stand looking at themselves in the morning? Obviously they need to watch the last portion of Scrooge.
Not Fair

Glastonbury, CT

#2 Jun 22, 2008
Paul wrote:
Well those are two firms I will never ever do business with or recommend to others. How can they stand looking at themselves in the morning? Obviously they need to watch the last portion of Scrooge.
Without making a judgment their practices appears to be very aggressive and skating a thin line just above the law. They are performing a very unpopular job which needs to be done. The banks, investors and others have lent billions of dollars and the people who have not lived up to their contract and knew what they were getting into are in default of the contract. What really stood out in this story was that the homeowners do not have many rights. It appears that renters in the state of CT have more rights during the eviction process than mortgagee's during a foreclosure.
shoreliner

Branford, CT

#3 Jun 22, 2008
Well I believe in personal responsibility and fulfilling contractual obligations, it does appear that the two law firms highlighted have been overly aggressive in the foreclosure process.

My sense is that banks would like to sell a property before going the foreclosure route.

The article reminded me about Milberg Weiss and we know where they ended up.
Dog

New Bedford, MA

#4 Jun 22, 2008
My mortgage payment is 1/3 property taxes. I am sure many of these forclosures could be avoided if it were not for the outragously high property taxes. The State should take some responsibility, after all it's not just the mortage company that is forclosing on properties, it is also the state.
Slime Ball Law Firms

AOL

#5 Jun 22, 2008
To these two Law Firms, especially, Hunt Leibert and Gouger, DROP DEAD. A few years ago I nearly lost my home. You over aggressive scum balls and snotty secretaries didn't know much of anything but RUDE, INSULTING and INDIFFERENCE. When you felons drive home in your 80,000 dollar cars at night, think of how many people you put out in the street and how many you could have helped. You are nothing more than slime balls that run a just barely operation to steal from the helpless and people that are down on their luck. None of you ever went to school to learn compassion. Always remember, what goes around, comes around. One day you all will have bad luck as well.

“US Elects Fake”

Since: Aug 07

East of the River

#6 Jun 22, 2008
When this gig dries up, they'll become legislators. As such, those not in foreclosure are safe for the moment.
Good Greef

Boston, MA

#7 Jun 22, 2008
If they are too aggressive then the people they work for could always tell them to slow down. However, Reiner doesn't get paid if the bank elects to sell the property first rather than foreclose!

I know for a fact that they begin the procedure before the lender has given the ok resulting in attorney's fees once you bring your mortgage current. They're bottom feeders!
OLD GOAT Saybrook

Woburn, MA

#8 Jun 22, 2008
The Lenders were in default at the beginning because of poor credit standards/evaluation [GREED]
Most of the Borrowers in the "Sub Prime " Loans are in default because of it.

I am not a Banker, but come from a family of Bankers (consider myself a 4th generation of the group.

I have submitted a program to the Board of Governors of the Federal Reserve DC, to Senator Dodd, and MANY others, and some newspapers--none have not given the courtesy of response. My proposal eliminates the high costs of foreclosure, gives relief to the Borrower, and produces almost the same yield to the lenders as the originally constructed loans.

The program was reviewed by a person with more financial knowledge than I. He agreed it could/should work.He was in the Mortgage backed lending business in a prominent firm.

Guess the only place for me to take this now is to submit a copy to the Judges handling Foreclosure Proceedings here in Connecticut. Think I will try that tomorrow by phone unless someone has a better idea
wojar

Bristol, CT

#9 Jun 22, 2008
shoreliner wrote:
Well I believe in personal responsibility and fulfilling contractual obligations, it does appear that the two law firms highlighted have been overly aggressive in the foreclosure process.
My sense is that banks would like to sell a property before going the foreclosure route.
The article reminded me about Milberg Weiss and we know where they ended up.
Many struggling home owners are in a difficult position because the housing market tanked, reducing the value of their homes. Blithely characterizing the matter as simply of personal responsibility does not reflect well on the writer of that comment.
Get Real

Granby, CT

#10 Jun 22, 2008
Good Greef wrote:
If they are too aggressive then the people they work for could always tell them to slow down. However, Reiner doesn't get paid if the bank elects to sell the property first rather than foreclose!
I know for a fact that they begin the procedure before the lender has given the ok resulting in attorney's fees once you bring your mortgage current. They're bottom feeders!
Very wealthy bottom feeders...but SOBs just the same.
Question

AOL

#11 Jun 22, 2008
Wonder how many judges benefit from these two law firms? They seem to run the floor with their fast turn around on foreclosures. I smell more than the stench from Stunt, Bleeder and Gouger and Crimer and Crimer.
SIG

AOL

#12 Jun 22, 2008
Quit your griping. If everyone was responsible and paid their mortgages, then these lawyers would be out of work. Right?
John

Glastonbury, CT

#13 Jun 22, 2008
BOTTOM FEEDING SCUMBAGS!
Logic

AOL

#14 Jun 22, 2008
SIG wrote:
Quit your griping. If everyone was responsible and paid their mortgages, then these lawyers would be out of work. Right?
Douche Bag Logic. Bad luck and hard times is different than being irresponsible. You must be part of one these scum bag law firms?
Deacon

New London, CT

#15 Jun 22, 2008
The bottom feeders are making money on someone elses misery, this occupation will never reach the status of a used car salesman.
wojar

Bristol, CT

#16 Jun 22, 2008
SIG wrote:
Quit your griping. If everyone was responsible and paid their mortgages, then these lawyers would be out of work. Right?
What an oversimplification. The role of lenders in making bad loans and selling the paper as securities via investment banks left the rest of us (with pensions and 401(k) and annuities) holding the bag. A whole lot of middlemen got fat commissions and the public at large is harmed.
lol

Avon, CT

#17 Jun 22, 2008
they're only doing they're jobs. IF you want to be angry at someone, look to the lenders who were handing out so much money knowing the peope couldn't afford the totals and keeping their eye on the property they'd be able to foreclose on.

it's the lenders people should be upset wirh. When I took my first mortgage out, we had to have well over 10% down and meet salary/mortgage ratios. NOw that all seems forgotten, need a few hundred thousand, step right up, doesn't matter if you're working or not.... This is where the law needs to be changed...
shoreliner

Branford, CT

#18 Jun 22, 2008
wojar wrote:
<quoted text>
Many struggling home owners are in a difficult position because the housing market tanked, reducing the value of their homes. Blithely characterizing the matter as simply of personal responsibility does not reflect well on the writer of that comment.
Ah..the victim argument.

I'd be willing to bet that homeowners who made significant downpayments for their houses are in the minority of the people getting foreclosed on.

The old way is the best way. That means a minimum 20% downpayment and a 30 year fixed rate mortgage.

If you can not afford this, rent.

Bad luck? Maybe

Bad planning? Definitely
wojar

Bristol, CT

#20 Jun 22, 2008
lol wrote:
they're only doing they're jobs. IF you want to be angry at someone, look to the lenders who were handing out so much money knowing the peope couldn't afford the totals and keeping their eye on the property they'd be able to foreclose on.
it's the lenders people should be upset wirh. When I took my first mortgage out, we had to have well over 10% down and meet salary/mortgage ratios. NOw that all seems forgotten, need a few hundred thousand, step right up, doesn't matter if you're working or not.... This is where the law needs to be changed...
If the lenders were held responsible for their lending practices this wouldn't have happened. That's why "all that" was forgotten. Packaging loans as securities meant that someone else would have to pay -- us, the holders of annuities, pensions, and 401(k)s that are handled by money handlers all taking their cut.
wojar

Bristol, CT

#21 Jun 22, 2008
shoreliner wrote:
<quoted text>
Ah..the victim argument.
I'd be willing to bet that homeowners who made significant downpayments for their houses are in the minority of the people getting foreclosed on.
The old way is the best way. That means a minimum 20% downpayment and a 30 year fixed rate mortgage.
If you can not afford this, rent.
Bad luck? Maybe
Bad planning? Definitely
You're only looking at half of the picture. Lenders loaning out money knowing it can't possibly be paid back are in large part responsible for this mess. It takes two to tango.

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