west palm beach: DIVORCE, SHORT SALES, LOAN MODIFICATION, DEED IN LIEU AND FORECLOSURE - PLANNING AND SOLUTIONS - 10/28/10 03:45 PM
Although we are years into a dramatic period of real estate deflation, divorce lawyers and judges have not been able to move from traditional solutions to new solutions that work in this recessionary economic environment.  The traditional ways of dealing with real estate in a divorce setting has changed.  Existing divorcees and those in the planning stages all are potentially affected. Existing handling of divorces usually cause havoc with attempts for Short Sale, Loan Modification or Deed in Lieu solutions.
What's the Problem?
Traditionally, the property that husband and wife accumulated during the marriage is divided by some mutual agreement or by … (11 comments)

west palm beach: TOO RICH TO DO A SHORT SALE? - ECONOMIC LOGIC APPLIES - 02/09/08 04:28 AM
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, taxes, insurance and maintenance costs.
The "short sale" phenomenon is giving some upside down investors the belief that they can get out of the mortgage by getting the property sold for less than the mortgage indebtedness and the bank will share in that loss.
I have spoken in the past about the theory … (6 comments)

west palm beach: BORROWERS FACING FORECLOSURE OFTEN OVERPAY - STUDY FINDS - 11/09/07 01:44 AM
Is our system of foreclosure out of control?  Are the banks acting fiduciarily to their borrowers in the loan management process - are they requred to?
Here is an interesting article from this week thanks to the American Bar Association -
Your comments on this site are welcome!
http://www.abajournal.com/news/borrowers_facing_foreclosure_often_overpay_study_finds
Richard Zaretsky, Esq., Richard P. Zaretsky, P.A., rpz99@florida-counsel.com 1655 Palm Beach Lakes Blvd, Suite 900, West Palm Beach, Florida 33401
 
(1 comments)

west palm beach: Some Sellers Think They Are ENTITLED To A SHORT SALE - 11/03/07 03:06 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 - Realtors, referrals, lenders, friends, developers.  Some borrowers have one investment property and some have eleven, and all the numbers in between. Most are upside down and don't want to put more good money (if they have any left) into a bad investment.
When they ask us to negotiate with the … (10 comments)

 
Richard Zaretsky, Florida Real Estate Attorney (THE ZARETSKY LAW GROUP - Board Certified Real Estate Atty and AUTOMATED LAND TITLE COMPANY)

Richard Zaretsky

Florida Real Estate Attorney

West Palm Beach, FL

More about me…

THE ZARETSKY LAW GROUP - Board Certified Real Estate Atty and AUTOMATED LAND TITLE COMPANY

Address: 1615 Forum Place, Suite 3A, West Palm Beach, Fl, 33401

Office: 5616896660 x 107

Mobile: (561) 329-2279

Legal true life experiences, general observations and commentaries for Realtors, Lawyers and Mortgage Brokers - also see our Palm Beach County Short Sales group blog.
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