preforeclosure: THE BANK CHANGED THE LOCKS! - 05/04/08 01:25 PM
There is discussion on Active Rain from time to time on whether in a short sale it is advisable to move out of the house. The real issue is the clause in the mortgage that says the bank can change the locks on the house if it is "abandoned". The exact … (20 comments)
preforeclosure: SHORT SALE FLIP - QUESTIONABLE METHODS - 03/18/08 09:11 PM
SHORT SALE FLIP - QUESTIONABLE METHODS This article is a follow up to an issue discussed in December titled Short Sales and Title Insurance - Critical Look at Hybrid Closing Schemes. I am representing an ultimate buyer on a short sale "flip" that raised some eyebrows and got me to looking carefully on … (17 comments)
preforeclosure: SALES FIGURES FOR JANUARY IN SOUTH FLORIDA - DOWN DOWN DOWN - 02/25/08 09:47 PM
Today's South Florida Business Journal published an article today showing the across the board declines in sales activity in the South Florida and near South Florida geographic area. One bright spot - for what it is worth - is an increase in prices for condo sales in Miami. Presently I can find no published … (1 comments)
preforeclosure: FORM RELEASED BY IRS FOR DEBT RELIEF ACT FILING - 02/22/08 01:49 AM
New IRS Form for Filing for Debt Relief The form for filing for tax relief under the Mortgage Forgeiveness Debt Relief Act of 2007 has been released and is available online. Click HERE for the form. Information about the relief available - which is available only to primary residences that incurred the tax … (2 comments)
preforeclosure: TOO MUCH MONEY IN THE BANK TO DO A SHORT SALE? - ECONOMIC LOGIC - 02/09/08 12:31 PM
TOO RICH TO DO A SHORT SALE? - ECONOMIC LOGIC APPLIES (edit/delete) 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 … (25 comments)
preforeclosure: 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)
preforeclosure: Mortgage Forgiveness Debt Relief Act of 2007- Another Look - 01/01/08 12:14 PM
I have been getting a lot of calls and emails about the Mortgage Forgiveness Debt Relief Act of 2007. The new law became effective today, and applies to 1099's on short sales or foreclosures retroactive to January 1, 2007. Before the Act was passed, one of the rewards for a homeowner helping … (7 comments)
preforeclosure: Underwater - The Cycle Repeats Itself - 12/02/07 11:11 AM
I cannot be surprised at the stories in the newspapers about homeowners, investors and even commercial property owners being "Underwater" with today's depressed real estate market values. Many people that own real estate today were just pre-teens when the last deep cycle occurred. Or if they are older, they were not … (2 comments)
preforeclosure: Short Sales and Title Insurance - Critical Look at Hybrid Closing Schemes - 11/27/07 03:46 PM
Recently I have seen various schemes for streamlining the short sale process for the buyer/investor. Some discussions have been somewhat heated and involved concepts like dual contracts or even insolvent borrower creating a Land Trust for use by the investor/buyer. At best, the agreement amongst the blog commentors has been to … (1 comments)
preforeclosure: WHO CONTROLS THE SHORT SALE? - 11/13/07 09:59 PM
WHO CONTROLS THE SHORT SALE? Who Controls the Short Sale? In this environment of the short sale it seems apparent that the bank controls the sale. Some might say the buyer controls the sale. My opinion is that both statements are primarily incorrect. The seller owns the house. The seller must … (3 comments)
preforeclosure: Who Controls the Short Sale? - 11/11/07 07:38 PM
In this environment of the short sale it seems apparent that the bank controls the sale. Some might say the buyer controls the sale. My opinion is that both statements are primarily incorrect. The seller owns the house. The seller must sign the contract. The seller must sign the deed. Of … (5 comments)
preforeclosure: Recent news article from South Florida on Short Sales - 11/03/07 03:14 PM
Here is a recent South Florida news article link - on short sales: http://www.dailybusinessreview.com/news.html?news_id=45571 Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 RPZ99@FLORIDA-COUNSEL.COM - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW … (1 comments)
preforeclosure: ECONOMICS 101 - SHORT SALES - WILL THE LENDER SHARE THE LOSS - 10/31/07 10:18 PM
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 - … (1 comments)
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There is discussion on Active Rain from time to time on whether in a short sale it is advisable to move out of the house. 
