lawyer: FLORIDA FORECLOSURE FRAUD BILL - MY LETTER TO GOV. CRIST - 05/02/08 12:35 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 of work daily in my law practice - and I am assisting one Bar complaint now against an attorney who is not revealing they are participating in Short Sale flip profits of their clients' property.
The problem is with the catch all definition of "Foreclosure Rescue Consultant".
My law practice … (25 comments)

lawyer: SELLERS ALWAYS HAVE INCOME FROM A SHORT SALE / DIL / AND MAYBE A FORECLOSURE - 04/16/08 10:20 AM
CANCELLATION OF DEBT INCOME - WHAT IF THERE IS NO 1099?
When DON'T you have to report forgiven debt as income?
One of the biggest issues that potential short sellers and those in foreclosure ask me is whether they have to get a 1099 for any forgiven debt from their lender.  Without a single exception so far, every debtor (borrower) has assumed that if they can avoid a report from their lender that they are being forgiven a portion of the mortgage debt, they will not have to report any income nor pay any income tax on that forgiven debt.
While … (49 comments)

lawyer: CALLING ALL ETHICAL LOAN OFFICERS - HELLO? ANYONE THERE? - 04/09/08 02:23 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 they call it - "Over The Top"!  It compels this article on loan officers and how some continue to intentionally contribute to the financial credit mess our industry is experiencing.  The names are fictitious but the scenario unfortunately is something I have heard often.
Here is how it went.
Mr. Smith called … (8 comments)

lawyer: WHAT DO I DO? -- I CAN'T PAY MY MORTGAGE - 01/12/08 01:13 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 getting all sorts of advice that they don't like.  They come to me to find their BEST solution, and I suppose they hope I am some sort of magician that can create an answer that they like.
The analysis of the problem is the first order of business.  These questions revolve … (6 comments)

lawyer: SHORT SALE TRILOGY - 01/01/08 12:04 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 -- if you have -- or if you are curious -- read on!
For the short sale to work I like to think of the process as the coupling of a trilogy.
#1 - you need to have the Seller who can no longer (maybe never could in the beginning too!) afford … (0 comments)

lawyer: SHORT SALE TRILOGY - 01/01/08 12:03 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 -- if you have -- or if you are curious -- read on!
For the short sale to work I like to think of the process as the coupling of a trilogy.
#1 - you need to have the Seller who can no longer (maybe never could in the beginning too!) afford … (1 comments)

lawyer: SHORT SALES AND IRS LIENS - 11/03/07 06:21 AM
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 pressure and lowball influence from an investor handling the process).  I have worked statewide with lenders - visting their loss mitigation departments and sitting in on committee meetings.  Knowing the process is key knowledge to improving the percent of short sale lender approval.
Now that you have the approval, what … (4 comments)

lawyer: ECONOMICS 101 - SHORT SALES - WILL THE LENDER SHARE THE LOSS - 10/31/07 03:18 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 - 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 lender to … (2 comments)

lawyer: SHORT SALES AND IRS LIENS - 10/28/07 11:06 PM
This being my first blog entry, I figured I would 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 pressure and lowball influence from an investor handling the process).  I have worked statewide with lenders - visting their loss mitigation departments and sitting in on committee meetings.  Knowing the process is key knowledge to improving the percent of short sale lender approval.
Now that you have the approval, what other bug will kill the deal.  … (7 comments)

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

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

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