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Posts by Michelle Labayen

Secret Service…Broke?

Has the Secret Service Gone broke trying to protect Trump? Over 1000 agents have already exceeded the mandated cap for overtime. This was supposed to last them a year. A total of 42 people are being protected and 18 of them are members of his family. However, during Obama’s administration, there was only 31. This…

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Big Update – State Of NY Denies The Right To Foreclose

On April 28, 2016 Judge Lizabeth Gonzalez of the State of New York, denied Wells Fargo the right to foreclose against home owner Wakelyn Phillips. The denial basically means that the bank cannot demand payments from the homeowners for the mortgage. The judge made this decision based on a simple and basic premise that to…

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Could Selen Financial and Bayview Services become your new Landlord?

Senator Warren spoke the Senate on Wednesday September 30, 2015 to detail how HUD, Fannie Mae and Freddie Mac are in collusion with Hedge funds. She argued that it should be no real surprise that with government support; single family homes are packaged and sold to wall street. (Source: http://sierramadre.patch.com/articles/realtors-sale-of-foreclosed-homes-to-spell-doom- for-housing-market-9eec5fa0, http://www.baycitizen.org/housing/story/report-investors-buy- nearly-half- homes/,http://money.cnn.com/2012/02/29/real_estate/Fannie_foreclosure_homes/index.htm, http://www.rollingstone.com/politics/blogs/taibblog/another-hidden-bailouthelping-wall-street-…

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Michelle Featured In A CNBC Article About Newark

Michelle Labayen has been featured in an article on CNBC discussing Newark. From the article: “Bankruptcy claims have decreased,” said Michelle Labayen, a bankruptcy lawyer operating in Newark, “because a lot of the businesses are not even doing a filing and they are just closing the doors…they are not necessarily aware of their rights.” Labayen…

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A Note From Michelle

Met with Senator Booker’s Staff Chief Deputy George Helmy to discuss fairness of Struggling Student act and Student loan discharge in bankruptcy. Seems like Booker’s office may not support because looking for “front end” solutions but express concern for the issue of student loan debt. Met with Congressman Bill Pascrell chief deputy of staff with same bills. Seems interested…

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What You Should Know About Taxes As A Senior Citizen

As a Senior Citizen you have enough to worry about.  You are inundated by offers and tips on saving money from the concerned family member to the scam artists online.  You have one more worry that you may want to put on your “watch list”.  As a Senior you may own your home without a…

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Senator Warren Pushing For Bankruptcy Discharge

Congress is paying attention to student loan debt though—and bankruptcy is increasingly part of the debate.  There was a a hearing this morning in the Senate Banking Committee on student loans, where Senator Elizabeth Warren pushed very strongly in favor of allowing bankruptcy discharge. You can watch the full hearing at this link (Sen. Warren’s…

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What You Should Know About Predatory Payday Loans

Most people who have encountered economic hardships look for solutions to get a little bit of money to hold them over until pay day. For some, a solution is to get a “payday loan”. A pay day loan is a relatively small amount of money lent at a high rate of interest on the agreement…

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AG Settlement One Year Later

The attorney generals sued the five largest national banks and reached a 25 billion dollar settlement in regards to mortgage fraud. For all of the outrage and obvious wrong doing, where are we today? 10 billion was to “quickly” be delivered to hundreds of thousands of people. 732,000 settlement checks have not been delivered 600…

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Eminent Domain And The Aftermath of Hurricane Sandy

Eminent Domain is back in the media and being used by Governor Christie.  In a nutshell, eminent domain is a rarely used legal premise which allows the government to take private land for the public good.  A typical scenario is if a city takes a deserted, dilapidated area and transforms the area into a park.…

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Student Loan Debt Crisis And The Role Of The Bankruptcy Court

Trillions of dollars in student debt is held by Sallie Mae. Student loan debt is preventing the 20-30’s year olds from entering the so called “middle class”. Today, politicians are discussing a remedy by allowing student loans to be discharged through the bankruptcy court without the strict adherence to In Re Brenner (undue hardship).  The…

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What Happens After You Surrender Your House In Bankruptcy

You have finally come to the decision that you are willing to surrender your house.  This decision did not come easily.  You probably spent years dreaming about your house, years paying for your house, possibly years going through a failed loan modification process and finally decided to file bankruptcy.  If you decided to surrender your…

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