palm beach lawyer: SUPREME COURT GAY MARRIAGE OPINION CHANGES REAL ESTATE OWNERS RIGHTS
- 06/27/15 01:58 AM
The monumental Supreme Court decision in Obergefell vs Ohio changes the landscape of gay rights regarding real estate, marriage, immigration and torts (damages for personal injury). Here is the nutshell version of how it will affect most gay unions and soon to be marriages as well as those already married in the State of Florida. TENANTS BY THE ENTIRETY OWNERSHIP Tenancy by the entirety provides one of the best asset protection methods in Florida. Under the law, any property, both real estate and personal property (like cars and bank accounts), if owned as husband and wife, and now by same sex partners joined … (74 comments)
palm beach lawyer: 2014 TAX RELIEF TO SHORT SALE FORGIVEN DEBT PASSES CONGRESS
- 12/03/14 05:08 AM
In a long expected vote by the House of Representatives, HR 5771 was passed today just after 3 pm ET. HR 5771 in section 102 provides for the extension of the presently expired Mortgage Debt Forgiveness Act, which expired at the stroke of midnight December 31, 2013. The law is now extended though December 31, 2014. Efforts to have the extension for 2 years failed. Interestingly the bill, introduced just days ago, was given a 10% chance of passage on Monday by Govtrack.US website. Senate update December 16th - The Senate approved this bill and it is now on its way … (42 comments)
palm beach lawyer: FORECLOSURE JUDGES TOLD TO GET RID OF OLD CASES OR LOSE FUNDING
- 06/14/14 10:38 PM
While in the foreclosure trial court for hearings last week, there was a string of lawyers for banks asking the judge to cancel already scheduled foreclosure sales because of pending short sales. Each borrower attorney agreed. The learned judge could either grant each cancellation and allow the short sale to go through - or deny the request of both the bank and the borrower attorney, and make the foreclosure sale proceed. The judge explained that the Palm Beach Circuit Court had been visited by the Florida Supreme Court (I don't know if that means a judge or some administrative official) and … (47 comments)
palm beach lawyer: A SHORT SALE ADDENDUM FORM THAT WORKS - FINALLY
- 10/07/12 06:12 AM
The short sale addendum is evolving again - this time the Florida Association of Realtors has done an excellent job of fixing the shortfalls of their previous two versions that were harshly criticized by me when they were published. Key elements of the "fix" that came out in September 2012 include allowing a choice of when the property inspection period is to occur and finally recognizing that a mortgage release alone is not necessarily a waiver of a deficiency of the promissory note. My criticisms and copies of the previous two versions of the FAR short sale addendum forms are contained in these … (4 comments)
palm beach lawyer: FEELS LIKE BACK IN 1938? WHEN ARE BANKS GOING TO LEND?
- 08/19/11 01:33 AM
Now that you are awake this morning, have you wondered what it is with the banks and lending? I'm not just talking about lending to homeowners so they can buy a home, but lending to the locally owned hardware store, or the new factory or office building that is needed but just can't get financing without the town floating a bond. Europe this morning is wondering the same thing, with financial stocks being battered and calls to go back to - you guessed it - 1938 banking regulations. What they are talking about is not DE-REGULATION, but LOOSENING of the REQUIRED … (3 comments)
palm beach lawyer: COMMUNITY ASSOCIATION AS LANDLORD - WHO GETS THE RENT?
- 06/01/11 04:41 PM
Can a community association declare itself the "landlord" of a rented unit or home if it is not getting paid its assessments? In Florida it can and it may keep 100% of the rents to apply against all the delinquent assessments on that unit /home. This is a clarification of the prior 2010 law that opened up a statutory method for associations to stop providing services to delinquent owners when the owner is collecting rent yet not paying the association.
July 1st Effective Date: The 2011 Legislature passed HB 1195 in May (which will go into effect on July 1st … (13 comments)
palm beach lawyer: DOES FILING BANKRUPTCY GET YOU FIRED FROM YOUR JOB?
- 05/25/11 10:56 AM
A lot of homeowners and commercial mortgagors that consider strategic defaults or foreclosure as solutions to being upside down on their home loans need to also consider what is often a perceived a simple escape mechanism - a Bankruptcy.
The Eleventh Circuit Court of Appeals ruled on May 17 2011 that the Bankruptcy Code does not prohibit a private employer from denying employment to an individual on the basis that the individual is or has been in bankruptcy - Myers v. Toojay's Mgmt. Corp., No. 10-10774 (11th Cir. May 17, 2011). While the Code prohibits government employers from denying employment based on the … (30 comments)
palm beach lawyer: SAVE A LIFE AND YOU SAVE THE WORLD - DO OUR CLIENTS NEED US TO AVOID DISPARE?
- 11/20/10 01:12 AM
Save a life and you save the world - Do our clients need us to avoid despair? Today in my local Florida newspaper, I read in horror that two deaths related to foreclosure occurred this week. One homeowner shot himself and the other apparently was asphyxiated by running his car in the garage. In the latter case the former homeowner was found by the successful purchaser after the foreclosure sale. Broker or lawyer, we see people that have nowhere to turn but to us for professional advice and perhaps some hope. Many are literally out of money and wonder about their next … (16 comments)
palm beach lawyer: Foreclosure Deficiency Judgment Compared to Deed In Lieu and Short Sale Scenarios
- 07/04/10 10:29 AM
We get so many questions about what is a DEFICIENCY JUDGMENT and how it differs from other possibilities including DEED IN LIEU OF FORECLOSURE or SHORT SALE. Recent blogs and Broker Bryant provided a request that I write a detailed article explaining and differentiating these three items. This article is written based on Florida law, but most state laws are similar. Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader. … (70 comments)
palm beach lawyer: BUY AND BAIL - DISTRESSED HOMEOWNER FEELS REALTORS ARE TO BLAME
- 07/04/10 09:16 AM
Calling all Realtors - What follows is a segment of a blog response to a discussion on the concept of "buy and bail". The words below were written by an unnamed person who is obviously an underwater owner. It is important to know that to many, Realtors and Bankers are the cause of everyone's financial distress. But one has to wonder, if our American Citizenry has a mindset like the author below, where would be this country's future? With capitalism comes responsibility. One of the great benefits of capitalism is the right to take a risk and be rewarded or penalized … (2 comments)
palm beach lawyer: Six Months To Bottom?
- 03/28/08 04:33 AM
See this new article on when and what of the South Florida real estate market dropping to the basement. Things are definitely following the normal 8 to 11 year cycle of peaks or valleys (the cycle is peak to peak or valley to valley - depending on where you are at any particular time). We still have quite a way to go. Foreclosures are supposed to pick up even more next year as the real fallout accelerates, but then it should (I think) decelerate quite quickly. What do you think? Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, … (7 comments)
palm beach lawyer: Who Says Owner Doesn't Have Time To Do a Short Sale?
- 01/27/08 06:37 AM
Some writers to my blogs have commented that "they don't have time to do a short sale". The reasons they think they don't have time can vary - usually it is because they are already in a mortgage foreclosure, and some said that they are leaving the area to a new life in some other state or even some other country. Timing on a short sale is important, but it is only too late for a short sale when the foreclosure sale at the courthouse steps has already occurred. Judgments of foreclosure result in a foreclosure sale - but unless the property … (11 comments)
palm beach lawyer: 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)
palm beach lawyer: DON'T LOSE YOUR HOME TO IDENTITY THEFT~~~ a TRUE STORY
- 11/03/07 02:38 AM
FRAUD - LOSING YOUR HOME - IDENTITY THEFT It is a day past Halloween, but here is a scary TRUE story: My office is presently working on a case that is so prevalent that I thought posting it on my blog would be helpful. The matter involves a single person who bought a home 5 years ago. It is a nice house, in a great community. He bought is for investment, paying about $400,000 and getting an 80% mortgage. It is his second home in South Florida, and his other home is about 5 miles away, but that is seldom used as … (0 comments)
Legal true life experiences, general observations and commentaries for Realtors, Lawyers and Mortgage Brokers - also see our Palm Beach County Short Sales group blog.
var _clustrmaps = {'url' : 'http://activerain.com/rpzaretsky', 'user' : 949532, 'server' : '3', 'id' : 'clustrmaps-widget', 'version' : 1, 'date' : '2011-11-03', 'lang' : 'en', 'corners' : 'square' };(function (){ var s = document.createElement('script'); s.type = 'text/javascript'; s.async = true; s.src = 'http://www3.clustrmaps.com/counter/map.js'; var x = document.getElementsByTagName('script')[0]; x.parentNode.insertBefore(s, x);})();
The monumental Supreme Court decision in Obergefell vs Ohio changes the landscape of gay rights regarding real estate, marriage, immigration and torts (damages for personal injury). Here is the nutshell version of how it will affect most gay unions and soon to be marriages as well as those already married in the State of Florida.
;)
;)
;)
