title insurance: IS YOUR TITLE AGENCY REALLY REVIEWING TITLE? ASSUMPTIONS MEAN TROUBLE! - 08/13/19 03:16 PM
Most real estate agents and attorneys work on the assumption that going back one or two deeds in the title history is sufficient to establish the title to the property.  But we don’t always think about the “quality of title”.  A recent Appellate Court decision in Florida is making title insurers and real estate attorneys scratching their heads on how just how careful they need to be! 
   Another issue is that we usually look to see who is in title but we don’t necessarily go over the deed that created their title – much less the previous deeds that created title, … (9 comments)

title insurance: ASSOCIATION FORECLOSURES - FRAUDULENT NON-DISCLOSURE? - 07/16/18 04:25 AM
Homeowner, Condominium and Property Owner Associations have become much more active in proceeding to foreclosure sales on unpaid assessments than in years past.  The reason is the fierce competition for first mortgage foreclosures caused by the quantity of buyers and the relentless bidding by large real estate acquisition funds.  This has forced smaller - usually individual want-to-be foreclosure buyers to the smaller stakes association foreclosure segment of foreclosures.  The risk is typically only a few thousand to $50,000 and the rewards often look like 20 to 200 times the investment.
Many of these investors are self-taught or have "learned" by buying seminars and … (2 comments)

title insurance: LOAN MODIFICATION LEVERAGE FOR DELINQUENT BORROWERS - 05/10/17 01:28 PM
Lender loan modifications could become serious again – provided the mortgage is owned by Goldman Sachs.  Recently reported in the Wall Street Journal, Goldman has been put in a unique position of profiting by giving loan modifications.  By both complying with the outline of the 2016 government settlement that requires that it provide $1.8 billion in consumer relief, such as loan modifications, and by making those loan modifications, it has planned to profit handsomely.
REQUIRED RELIEF FOR DELINQUENT BORROWERS
Under the government settlement, which required Goldman to pay a fine, the mortgage modifications could be re-valued (as a performing loan) and then a … (9 comments)

title insurance: STAND-OFF WITH FREDDIE MAC OVER SHORT SALE ADDENDUM - ALTA GETS INVOLVED - 09/14/11 09:38 AM
PRESENTING THE SHORT SALE ADDENDUM YOU CAN'T SIGN!   Agents hold on to your wallets as this could cost you big time!  This is just too big and important to let one blog article suffice.  And developments on this are occurring quickly.  The problem was pointed out in my re-blog Freddie Mac Short Sale Addendum - Item #13 - I DON'T THINK SO!!  on September 9, 2011.
  
On September 3rd there was a telephone conference call between ALTA (American Land Title Association) staff in Washington, DC and Freddie Mac’s Short Sale team to specifically discuss the addendum reproduced in Freddie Mac Short Sale … (11 comments)

title insurance: GMAC SUSPENDS FORECLOSURE OPERATIONS - JUDGMENTS MAY BE VOIDABLE - 09/21/10 02:11 AM
The Palm Beach Post reported today that GMAC has suspended all pending foreclosures nationwide because of a practice uncovered in Florida that could lead to VOIDABLE foreclosure judgments - thus creating havoc with foreclosure sales and REO sales.  The article, GMAC Suspends Foreclosure Evictions and Sales of Seized Property, cites the deposition taken by a Palm Beach County law firm that exposed the practice of affidavits regarding the verification of accuracy of a complaint and information about the loan being summarily signed in conveyor belt fashion. In the affidavits the signor is saying he or she has personal knowledge of the … (12 comments)

title insurance: THE BANK CHANGED THE LOCKS! - 05/04/08 06:25 AM
There is discussion on Active Rain from time to time on whether in a short sale it is advisable to move out of the house.
The real issue is the clause in the mortgage that says the bank can change the locks on the house if it is "abandoned".  The exact phrase from the Fannie Mae Single Family mortgage form says,
9.  Protection of Lender's Interest in the Property and Rights Under this Security Instrument.  If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in … (27 comments)

title insurance: Short Sales and Title Insurance - Critical Look at Hybrid Closing Schemes - 11/27/07 07:46 AM
Recently I have seen various schemes for streamlining the short sale process for the buyer/investor.  Some discussions have been somewhat heated and involved concepts like dual contracts or even insolvent borrower creating a Land Trust for use by the investor/buyer.  At best, the agreement amongst the blog commentors has been to agree to disagree.
First American Title Insurance Company, one of the nation's largest title insurers, distributed a comprehensive instruction memorandum to its title agents in late September and again re-distributed it today (in South Florida).  I have received permission to re-print it in this blog.
If First American's memorandum can … (6 comments)

title insurance: FRAUD - LOSING YOUR HOME - IDENTITY THEFT - 11/01/07 12:42 PM
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 he works in another state.
He put a renter … (0 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

Email Me

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);})();


Listings

Links

Archives

RSS 2.0 Feed for this blog