deed in lieu: I Can Mentor....Grasshopper/Sensei Program
- 03/03/13 06:54 AM
I have a lot of SEO knowledge and can debunk a lot of the myths and misperceptions. Many "experts" actually have superficial knowledge of this important area. My background is computer science and I know what the issues are!!! I am also a real estate attorney and investor so I can provide some help there too!!! Extensive experience in short sales, quiet title, loan modification, deed in lieu, forebearance, etc. This seems like a fun contest/program. Let's all join in and receive hald and help others...sounds like a useful contest and fun too!!! Sign up now...visit the Grasshopper/Sensei group NOW!!! Not … (3 comments)
deed in lieu: Something Old is Something New Again (Deeds in Lieu)
- 12/01/12 08:12 AM
Something old is something new again. There is one thing that I say ad nauseum…that distressed real estate is cyclical. If loan modifications are an option today, they will not be in the future but they will become an option later. This has certainly been true of Deeds in Lieu (DILs). Deeds in Lieu have not been much of an option since early 2010. However Fannie Mae is changing the process a bit and this may help many home owners. The GSE hopes that the new requirements for deed-in-lieu transactions will actually create more exit options for borrowers and has … (2 comments)
deed in lieu: Always Helps to Read the Fine Print
- 03/04/12 02:35 AM
Always helps to read the fine print. This is especially true with government documents. For example, on a HUD-1, we typically read the second page first!! LOL I wanted to point something out that is frequently overlooked in HAFA (Home Affordable Foreclosure Alternative) programs. The fine print in a HAFA transaction typically reads that if the lender rejects the HAFA short sale offer, the transaction AUTOMATICALLY converts to a Deed in Lieu (DIL)! For this reason, I have sellers execute a HAFA opt out form that is dated at the time of the purchase contract but not tendered unless … (6 comments)
deed in lieu: Foreclosure Numbers for Q3 are Artificially High
- 12/30/11 01:46 AM
Foreclosure Numbers for Q3 are Artificially High. Many observers of the real estate market are disturbed by a 20+% increase in foreclosures in the third quarter of 2011. If you merely look at numbers, this can be alarming but frequently (as in this case) the numbers themselves do not portray an accurate and total picture of the environment. The spike in foreclosures was due in large part to the lifting of voluntary and involuntary moratoria on foreclosure filings. The robo-signer debacle and many states caused temporary bans on foreclosure filings. New Jersey for example lifted a ban on foreclosure filings in … (1 comments)
deed in lieu: Foreclosure Defense is the Practice of Law
- 08/14/11 01:05 AM
Foreclosure defense is the practice of law. You would not think that if your home is in default or foreclosure since there is a remarkable number of firms soliciting distressed home owners with offers of foreclosure defense and delay of foreclosure. Most of these firms have limited ability to help you, since they are not attorneys. Many are being charged with the unauthorized practice of law. My home state of New Jersey just took action against six such firms operating within the state. The firms will try and lure you in with promises of foreclosure defense success or delay in the … (4 comments)
deed in lieu: Chinese Drywall Becoming a HUGE and Costly Problem
- 06/20/11 06:07 PM
I have been working on many short sales, Deeds in Lieu (DIL) and foreclosure defenses in Florida. I recently encountered an almost brand new home that contained “Chinese drywall”. We received an estimate to replace the toxic drywall with new drywall and the price exceeded $100,000! This is a huge problem that is not receiving a lot of media coverage. Perhaps because the affected (infected) areas are mostly Florida, Alabama, Mississippi, Louisiana, Virginia and Southeast Texas homes. As hard as it may be to believe, there is actually a Chinese Drywall Complaint Center (CDCC) and they are now claiming that Fannie … (2 comments)
deed in lieu: Practical Considerations in a Short Sale, loan Modification
- 03/20/11 06:05 PM
Most real estate sellers, buyers and investors understand what a "short sale" in real estate means. It is not a new concept and simply means that there are not enough proceeds from an anticipated sale to payoff the existing liens and encumbrances. However, many people do not realize that the methodology to obtain and approval changes as does the terms that a lender may require in order to approve a short sale.There are business cycles that affect whether a short sale will be approved. Lenders have different times when they are more amenable to a short sale. There are many reasons for this, … (2 comments)
deed in lieu: Practical Considerations in Distressed Real Estate
- 03/20/11 06:03 PM
Practical Considerations in Distressed Real Estate Many home owners have real estate that is worth less than they owe on the property. They wonder what are there options and they have heard confusing terms. People advise them to seek a "Deed in Lieu" (DIL) or a short sale, loan modification or workout. Some of the homes are in foreclosure too.There are frequently many options available for home owners. things are never as dire as it may seem. Careful strategy and planning and dedication to a desired result will often yield the results that you seek. My legal approach starts with focusing on your goals. There are three … (0 comments)
deed in lieu: More Foreclosure Mill Fallout
- 03/08/11 08:19 PM
The Law Offices of David Stern are closing this month after fallout from Robo signer and other problems in Florida. They were one of the big three foreclosure attorney practices in Florida. Fannie Mae and Feddie Mac stopped doing business with them last year. The Florida Attorney General is looking into their work product (as well as one of the other Big Three foreclosure mills in Florida).
I have had a lot of experience dealing with these firms (not Stern however) and I am disgusted as an attorney that such attorneys are allowed to practice law. Unreturned phone calls, no … (2 comments)
deed in lieu: Mortgage Forgiveness Debt Relief Act of 2007
- 02/23/11 08:17 PM
I have attempted to write a blog about this for a long time....for one thing, it is a long and difficult subject. It is also frequently misinterpreted and misunderstood. The MFDRA of 2007 was signed into law by President Bush (for whatever reason many seem to want to give credit to Obama for this...but it was 2007)!!! It was a response to the rapidly rising foreclosure crisis that was perceived to be the result of subprime loans. One interesting provision of the Act is that it does NOT exlcude from forgiveness of debt consideration HELOC or equity loans unless they … (2 comments)
deed in lieu: Analysis of Distressed Real Estate
- 01/27/11 07:13 PM
When I am first contacted by the owner of distressed real estate, I ask them THEIR goals. It is important to establish what they would like to do (i.e. keep the home, walk away intelligently, etc). The next step is that I advise them that there are three issues... 1). Cash flow issues - meaning their monthly money coming in vs, money going out. this is especially significant if the distressed property is an rental property and providing monthly rental income; 2). Tax ramifications...there are tax ramifications to virtually every resolution and these need to be addressed; 3). Credit issues. I then … (2 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
I have a lot of SEO knowledge and can debunk a lot of the myths and misperceptions. Many "experts" actually have superficial knowledge of this important area. My background is computer science and I know what the issues are!!!
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