Business of Law
New Law Firm Rises from Ashes of Foreclosure Giant
Posted Feb 10, 2012 9:56 AM CST
By Martha Neil
Two former practice leaders at the Steven J. Baum foreclosure law firm in New York have joined forces with a Michigan attorney to form a new legal partnership focusing on real estate and bankruptcy matters.
Adam Gross and Amy Polowy are calling their new 18-attorney shop, which is based in Amherst but plans also to open an office on Long Island, a "home retention firm," reports the Buffalo News. Linda Orlans, who is based in Michigan, is the third name partner of Gross Polowy & Orlans.
While the new firm presumably will still handle a large volume of foreclosures for lenders, other options may be best for both sides, Gross tells the newspaper.
“A home retention, if the borrower can qualify, is the best option,” he said. “Anybody representing servicers should take the same approach.”
As detailed in earlier ABAJournal.com posts, the Baum firm, which once handled nearly half of the foreclosure cases in the state, crashed and burned after its practices were questioned. Photos that came to light of a Halloween party in which staffers had worn costumes perceived by a number of observers to be mocking defendants in foreclosure cases added to its troubles.
Additional and related coverage:
ABAJournal.com: "Baum Foreclosure Firm to Close After Fannie and Freddie Pull Files, Plans Mass Layoffs"
ABAJournal.com: "Long Island’s Frenkel Lambert Looks to Expand in Upstate NY After Baum Firm Collapse"
ABAJournal.com: "NY Judge Nixes Bank’s Foreclosure Judgment Because Process Server Didn’t Keep Records"