short sale lawyer: 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 … (10 comments)
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short sale lawyer: SHORT SALE LENDER CANNOT REDUCE COMMISSION TO BROKER - 10/12/09 08:25 PM
One of the great drawbacks to a broker taking on a short sale listing is the fear and often the reality that the short sale lender will demand a reduction in the broker commissions. This has created all sorts of contraptions to make the broker whole.
I have seen contracts that … (56 comments)
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short sale lawyer: LOAN AUDITS - FORECLOSURE DEFENSE FALLACY? - 07/14/09 08:33 AM
The concepts of foreclosure defense preparation have started a cottage industry, unregulated as with most of the home saving concepts, called "loan audits".
A loan audit is supposed to be a "forensic analysis" of the loan origination and closing. I get calls every week from a few sales people trying to … (4 comments)
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short sale lawyer: SHORT SALE FLIPS - TITLE INSURANCE PROHIBITED - 06/08/09 08:31 PM
The short sale flip apparently is alive and well for some investors - and it is causing havoc with title insurance underwriters. Now the title insurance underwriters are making their case simply by declaring that they won't insure such transactions.
This decision is not surprising. As pointed out in SHORT SALE FLIP … (69 comments)
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short sale lawyer: SHORT SALE BUYER CANCELLED CONTRACT EPIDEMIC - DIAGNOSIS AND CURE - 03/29/09 06:41 PM
This past week my office had 5 short sale buyer's walk from their contracts! Although I use an exclamation mark, it is not an unusual occurrence. In fact it seems that it takes 4 contact buyers to make a short sale finally happen. If that was an average for a traditional … (35 comments)
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short sale lawyer: 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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short sale lawyer: LENDER SHORT SALE ACCEPTANCE LETTER EXAMPLES - READ WITH CAUTION! - 02/04/09 07:53 AM
What is a short sale? When giving lectures I like to use the definition as follows:
The sale of a real estate property for a price that is less than the total amount necessary to fully satisfy the actual present encumbrance (mortgage) indebtedness on the real estate property.
Often I see … (15 comments)
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short sale lawyer: MULTIPLE SHORT SALE CONTRACTS AND HOW TO AVOID THEM - 01/31/09 09:09 AM
Why does it take 3.8 contracts to sell a short sale property? Why do Realtors insist on spinning their wheels and getting nowhere selling short sale properties?
My office handles a lot of short sale transactions and we work with Realtors on the short sale negotiation side of the transaction as … (12 comments)
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short sale lawyer: TABLE OF CONTENTS - RICHARD ZARETSKY SHORT SALE ARTICLES - 1/27/2009 - 01/27/09 09:00 AM
Richard Zaretsky's Short Sale Blog Articles (copyright 2009) - A Monthly Updated Table of Contents of Articles by Richard P. Zaretsky, Esq
MOTION FOR SUMMARY JUDGMENT OF FORECLOSURE - DEFEATED! AND HOW I DID IT
Today I used a new technical defense to successfully defeat a motion for summary judgment for foreclosure and … (4 comments)
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short sale lawyer: 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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short sale lawyer: IS THE FORECLOSURE FINAL? - AND HOW DOES IT AFFECT MARKETING A SHORT SALE? - 11/30/08 11:19 AM
Actual question from a Realtor in Miami, Florida: I am trying to figure out for my clients who are still in the home and have actually had a foreclosure judgment awarded against their property while working on a short sale. At that point, they don't know if they should just give … (7 comments)
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short sale lawyer: SHORT SALES AND MORTGAGE MODIFICATIONS TABLE OF CONTENTS - 11/06/08 10:32 PM
THE TABLE OF CONTENTS HAS BEEN UPDATED AND MOVED - PLEASE CLICK ON THIS LINK TO GET TO THE NEW TABLE OF CONTENTS
TABLE OF CONTENTS - SHORT SALE AND LOAN MODIFICATION ARTICLES
Copyright 2009 Richard P. Zaretsky, Esq.
Be sure to contact your own attorney for your state laws, … (12 comments)
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short sale lawyer: WHAT'S WRONG WITH THE FAR SHORT SALE LISTING AND CONTRACT ADDENDA - AND HOW YOU CAN FIX IT - 11/01/08 08:03 AM
The Florida Association of Realtors took the lead in making some semblance of consistency, order, and standardized forms for use by Realtors for Short Sale transactions. I doubt many Sellers or brokers realize the draconian conditions of the documents they are using. If you are among them, this article may open … (16 comments)
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short sale lawyer: FORECLOSURE DEFENSE FALLACY - 10/26/08 10:40 AM
If you are a listingRealtor or a person who has just gotten foreclosure notice from your lender(s), no doubt you have heard about a myriad of "Foreclosure Defense" firms that promise to delay or prevent foreclosure or even prevent the enforcement of the mortgage because if irregularities in the loan. What … (9 comments)
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short sale lawyer: I THOUGHT IT OUTRAGEOUS THAT ANYBODY HAS TO STEP IN TO BAIL OUT A BUNCH OF 29 YEAR OLDS DRIVING MASERATIS - 10/10/08 08:07 AM
Sometimes you get a frank speaking knowledgable person that sums up the day's thought succintly and in one sentence. Speaking on the Financial Crisis, legenday investor Jim Rogers, in an interview reported on CNBC this morning said the irresponsible people need to go bankrupt if necessary. Here is the quote - … (3 comments)
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short sale lawyer: 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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short sale lawyer: FLORIDA FORECLOSURE FRAUD BILL - UPDATE - 09/13/08 10:17 PM
Government can react positively when enough people raise their voice - and the law is clearly against public policy. This post updates my article on the Florida Foreclosure Fraud Bill.
The Florida Foreclosure Fraud Bill, which I reported was written in such a way that borrowers could be barred from access … (6 comments)
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short sale lawyer: A-T-T-O-R-N-E-Y Spells T-R-O-U-B-L-E in Short Sale - 05/03/08 10:11 PM
Sad Facts about Attorney Misconduct in a Short Sale
Being an attorney carries a heavy burden when representing a client. Watch any case for attorney misconduct that goes to a criminal trial and you will see the attorney usually get the most severe penalty. This is because the attorney is held to … (19 comments)
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short sale lawyer: FLORIDA FORECLOSURE FRAUD BILL - MY LETTER TO GOV. CRIST - 05/02/08 07:35 AM
See UPDATE to this blog and how it was resolved - at FLORIDA FORECLOSURE FRAUD BILL - UPDATE
Governor Crist -
House Bill 643 is a much needed bill and frankly, it does not go far enough to address the fraud and unfair advantages taken by predators. I see this type … (25 comments)
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short sale lawyer: 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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