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The New York City Bar Association has issued an ethics opinion regarding the participation of volunteer lawyers in the Lawyers Foreclosure Intervention Project (LFIN).*

LFIN is a joint effort between the Federal Reserve Bank of New York and the City Bar Justice Center to assist New Yorkers facing the prospect of foreclosure. Participating lawyer volunteers will assist homeowners in understanding and assessing their options to avoid foreclosure. Some lawyers will negotiate with homeowners' creditors; others will represent homeowners before bankruptcy or other courts. For more information on the LFIN, please click here.

* Note: The City Bar Association has revised its ethics opinion regarding the participation of volunteer lawyers in the LFIN. The revised opinion, dated June 12, reflects changes in the first paragraph on page 2 and the paragraph on pages 2-3 with regard to the situation where a firm’s representation does not substantially relate to the mortgage taken out by the pro bono client, and is otherwise unchanged. The revised opinion was issued to provide needed flexibility for financial institutions and law firms to develop their own waiver arrangements while remaining faithful to the requirements of the Lawyer’s Code of Professional Responsibility.

 

 

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