palm beach: IRS announces a new tax receipts form 4506T-EZ - 10/28/09 10:06 PM
Michael Lampert Esq., the tax attorney who is Of Counsel to my law office has alerted me that on October 21, 2009 the IRS issued a new form, 4506T-EZ, entitled "Short Form Request for Individual Tax Return Transcript". This new form will make it easier for homeowners trying to short … (9 comments)
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palm beach: TENANT RIGHTS AND FORECLOSURE - A DISCUSSION OF SAFEGUARDS - 03/03/09 08:50 PM
The unintended victims of the foreclosure process are often the occupant of the home that is a tenant. The landlord is a borrower under a mortgage that has gone into default and is now being foreclosed. What is going to happen to the tenant as a result of the foreclosure? How … (9 comments)
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palm beach: FORECLOSURE DEFICIENCY JUDGMENT or SHORT SALE PROMISSORY NOTE or BANKRUPTCY? - REVISITED - 01/27/09 08:43 AM
Whether to agree to a negotiated promissory note in a short sale or allow the house to go to foreclosure is one of the most discussed topics around. It deserves a simple comparison.
My previous article on this subject can be found at Negotiated Payback or Foreclosure Judgment Deficiency? Compared.
A … (25 comments)
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palm beach: BILLIONS (MORE) IN BANK LOSSES - NEEDLESSLY - 09/21/08 05:07 AM
Short Sale Buyers are increasingly investors seeking to buy and flip or buy and rent for positive cash flow. Missing from the field are homebuyers seeking a place to live. Why?
Banks Encourage Short Sale Investors and Discourage Retail Buyers
Let's look at the basic premise of a short sale. The … (5 comments)
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palm beach: Second Mortgage Short Sale - Holding Up the Railroad Loot - 09/08/08 10:47 PM
The Second Mortgage Dilemma can ruin your short sale -
Like the old West, the stagecoach holding the railroad's payroll was always getting held up by the bad guys - at least in the movies. Has much changed in the Wild West environment of short sales and the fight between primary and secondary … (7 comments)
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palm beach: CALLING ALL ETHICAL LOAN OFFICERS - HELLO? ANYONE THERE? - 04/09/08 09:23 PM
Calling All Ethical Loan Officers - Hello? Anyone There?
Every day I field questions about short sales, foreclosures and real estate investing. I represent developers, lenders, buyers, sellers, the sharks and the lambs. All have different work for me and all need different solutions. Today a call came in that was as … (10 comments)
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palm beach: STEP BACK OBSERVATIONS - FOREST FROM THE TREES - A RAMBLE - 03/28/08 08:56 PM
What a week!
Mortgage foreclosure White Knights targeted by the Florida Attorney General (no surprise there - just why did it take so long?!!!)
CNN special report on the Mortgage Meltdown and it being second only to the Great Depression.
Record foreclosures expected to continue to break records through 2008 and into 2009.
But heck … (0 comments)
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palm beach: CHAINED TO THE HOUSE - DIVORCE SOLUTIONS INVOLVING SHORT SALES - 03/26/08 10:15 PM
DIVORCE - CHAINS TO THE UPSIDE DOWN HOUSE VALUE CAN BE BROKEN!!! (edit/delete)
Chained to your home and can't get a divorce? You are not alone! A major problem with divorcing couples is that they cannot sell the marital home. They think they are forced to stay in a difficult relationship … (5 comments)
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palm beach: DIVORCE - CHAINS TO THE UPSIDE DOWN HOUSE VALUE CAN BE BROKEN!!! - 03/26/08 10:08 PM
Chained to your home and can't get a divorce? You are not alone! A major problem with divorcing couples is that they cannot sell the marital home. They think they are forced to stay in a difficult relationship or marriage. Today's economic climate is terribly impacting couples (or former significant others) … (2 comments)
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palm beach: TOO RICH TO DO A SHORT SALE? - ECONOMIC LOGIC APPLIES - 02/09/08 12:28 PM
This week I spoke with several people that wanted to do a short sale of investment property that is upside down in value. They are sick and tired of the short fall on rental income (if they are lucky to have a renter that actually pays rent) vs the mortgage payment, … (5 comments)
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palm beach: Who Says Owner Doesn't Have Time To Do a Short Sale? - 01/27/08 02:37 PM
Some writers to my blogs have commented that "they don't have time to do a short sale". The reasons they think they don't have time can vary - usually it is because they are already in a mortgage foreclosure, and some said that they are leaving the area to a new … (11 comments)
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palm beach: WHAT DO I DO? -- I CAN'T PAY MY MORTGAGE - 01/12/08 09:13 PM
Most Common Question: "What do I do? - I can't pay my mortgage"
As an attorney, I receive plenty of telephone calls and visits from people that are no longer able to pay their mortgage on their home or investment property. They all have endless questions and usually tell me they are … (4 comments)
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palm beach: SHORT SALE TRILOGY - 01/01/08 08:04 PM
We get at least one call a day at my office on short sales. It is really amazing how many people - professionals as well as potential sellers - do not even know what the term "short sale" means. This blog assumes you have actually worked a short sale already -- … (0 comments)
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palm beach: SHORT SALE TRILOGY - 01/01/08 08:03 PM
We get at least one call a day at my office on short sales. It is really amazing how many people - professionals as well as potential sellers - do not even know what the term "short sale" means. This blog assumes you have actually worked a short sale already -- … (1 comments)
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palm beach: TAX DEEDS - COURT DEVELOPMENTS NIX SALE! - 11/13/07 09:55 PM
Tax Deed purchases are popular in many states as a way to acquire real estate at truly rock bottom prices. Generally a tax deed purchase is first in line after just a few significant "super" lienholders: (1) God, and (2) Code Enforcement Liens. Practically all others having an interest in the property … (0 comments)
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palm beach: TAX DEEDS - COURT DEVELOPMENTS CAN NIX SALE! - 11/13/07 09:54 PM
Tax Deed purchases are popular in many states as a way to acquire real estate at truly rock bottom prices. Generally a tax deed purchase is first in line after just a few significant "super" lienholders: (1) God, and (2) Code Enforcement Liens. Practically all others having an interest in the property … (0 comments)
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palm beach: TAX DEEDS - NEW COURT DEVELOPMENTS COULD NIX MANY SALES! - 11/13/07 09:35 PM
Tax Deed purchases are popular in many states as a way to acquire real estate at truly rock bottom prices. Generally a tax deed purchase is first in line after just a few significant "super" lienholders: (1) God, and (2) Code Enforcement Liens. Practically all others having an interest in the property … (3 comments)
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palm beach: SHORT SALES AND IRS LIENS - 11/03/07 01:21 PM
SHORT SALES AND IRS LIENS
This being my first blog entry, I figured to talk about something simple.
In my law practice we see a lot of short sales. Indeed, we offer a service to Realtors and Sellers to process their short sale material with the lenders (without the downward … (2 comments)
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palm beach: TRUE STORY - Renter forges deed, then conspires to sell house and pocket mortgage proceeds - 11/03/07 01:19 PM
FRAUD - LOSING YOUR HOME - IDENTITY THEFT
It is a day past Halloween, but here is a scary TRUE story:
My office is presently working on a case that is so prevalent that I thought posting it on my blog would be helpful. The matter involves a single person … (3 comments)
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palm beach: Some Sellers Think They Are ENTITLED To A SHORT SALE - 11/03/07 10:06 AM
I had just too many borrowers that "should have known better" in the office this week - so I feel very conservative just now - just to the right of Bill O'Reilly.
We do a lot of short sales in my law and title agency offices. They come in from all sources … (6 comments)
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