Leading Residential Mortgage Lawyers Help Homeowners Navigate Federal Programs to Save their Homes
In September, Sonnenschein began providing pro bono support directly to New York City homeowners in distressed situations through the "Lawyer's Foreclosure Intervention Network". Twelve of Sonnenschein's capital markets and real estate lawyers received training under the new program created and sponsored by The Federal Reserve Bank of New York and the City Bar Justice Center. Sonnenschein counsels homeowners in distress and/or foreclosure situations on their rights and other issues, outside of litigation, including: mandatory settlement conferences, loan modifications and credit management. The program will be supervised internally at Sonnenschein by capital markets partner, Salvatore Franco. The following additional lawyers will receive the extensive 12 hour training and provide counsel to homeowners: Shujaat Ali, Michael Cunningham, George Espinal, Jessica Gold, Brett Gross, Ilana Kameros, Shira Levine, Ryan Reeves, Robin Regan, Jason Ross and Brian Shortt.
Historically, Sonnenschein lawyers have been leaders in residential and commercial securitizations and various loan products. In recent years, we worked with the FDIC, Treasury Department and other Federal agencies in structuring, implementing and/or advising on programs under the Emergency Economic Stimulus Act including: Troubled Asset Relief Program (TARP), Term Asset-Backed Securities Loan Facility (TALF) and Public-Private Investment Program (PPIP).
Sonnenschein is pleased to participate in the "Lawyers' Foreclosure Intervention Network" and to provide valuable insight to homeowners who are exploring their options within the challenging economic climate.
