Short Sale Loan Modification and Foreclosure Blog Articles A Periodic Listing of Articles
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.
Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website http://www.florida-counsel.com/
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Water Damage Affecting Condominium Homeowners – Who Is Responsible?
ASSOCIATION CLAIM FOR LATE FEES & COSTS AFTER FORECLOSURE OF MORTGAGE
ASSOCIATION CANNOT CLAIM ASSESSMENTS WHILE IT IS THE OWNER
YOUR EMAIL IS BEING WATCHED = YOUR CLIENTS VICTIMIZED : THE HACK STORYSHORT SALE DEFICIENCY BARRED AFTER ONE YEAR IN FLORIDA
HOW LONG DOES YOUR MORTGAGE EXIST?
FREE REAL ESTATE FRAUD PROTECTION SERVICES BECOME AVAILABLE
QUIET TITLE TO ELIMINATE YOUR MORTGAGE - FLORIDA STATUS
HELP YOUR PET GET THROUGH THE FIREWORKS
SUPREME COURT GAY MARRIAGE OPINION CHANGES REAL ESTATE OWNERS RIGHTS
DEFICIENCY JUDGMENT BARRED AFTER 1 YEAR - CAN IT APPLY TO SHORT SALES?
2014 TAX RELIEF TO SHORT SALE FORGIVEN DEBT PASSES CONGRESS
TITLE INSURANCE REFERRAL KICKBACK SCHEME COSTS $200,000
Quiet Title Of A Mortgage - Another Nail In The Coffin
TAX DEED AUCTION SALE vs FORECLOSURE AUCTION - WHAT YOU NEED TO KNOW
FORECLOSURE JUDGES TOLD TO GET RID OF OLD CASES OR LOSE FUNDING
Deficiency Lawsuits In Florida Accelerate To Meet Deadline
QUIET TITLE ACTIONS - STATUTE OF LIMITATIONS BECOMING IRRELEVANT
WHAT IF - THE MORTGAGE DEBT RELIEF ACT DOES NOT GET RENEWED?
FRAUDULENT DEED SCAM NETS $240,000 - DANGER TO REALTORS
30 DAYS UNTIL MORTGAGE DEBT RELIEF ACT EXPIRES - REALTOR CALL TO ACTION
BEWARE STRATEGIC MORTGAGE DEFAULT? FANNIE AND FREDDIE LOOKING FOR YOU!
Grand Canyon Loophole for Landlords and Tenants in Foreclosure
Bank of America Short Sale Approval Letter - New Example
FREE AND CLEAR WITHOUT PAYING THE MORTGAGE - QUIET TITLE IS FOR REAL
SQUATTERS - IT CAN HAPPEN TO YOU TOO!
QUIET TITLE IN FLORIDA - A SUCCESSFUL CASE STUDY
LOAN MODIFICATION ENFORCEMENT DEFEATS FORECLOSURE AT TRIAL
WE LOST YOUR DOCUMENTS – LOAN MOD JUSTICE DONE
NEW FLORIDA FORECLOSURE CHANGES – DOES IT AFFECT BROKER ADVICE?
WITH GREATER FOREIGN BUYERS - BETTER TELL THEM ABOUT FIRPTA!
QUIET TITLE SCHEME GONE WRONG MAKES ATTORNEY GO MISSING
QUIET TITLE MORTGAGE FORECLOSURE DEFENSE MERITLESS IN FLORIDA
REAL ESTATE BROKER SHORT SALE COMMISSIONS EXPLAINED BY BANK OF AMERICA
SHORT SALE PRIMER - PART II - 1099 INCOME, SHORT SALES AND LOAN MODS
SHORT SALE PRIMER - PART I - THE "NEW STANDARD SHORT SALE"
Realtor Call to Action – Forgiven Mortgage Debt Tax Exemption Expiring
NEW PNC SHORT SALE DEFICIENCY AGREEMENT TO PAY FORM
IS A FORECLOSURE AN EXCUSE FOR TENANT TO STOP PAYING RENT?
A SHORT SALE ADDENDUM FORM THAT WORKS - FINALLY
QUIET TITLE ELIMINATION OF MORTGAGE ATTACKED BY FLORIDA AS DECEPTIVE
FLORIDA ATTORNEY GENERAL ATTACKS TRUST DEED SCAM AGAINST HOMEOWNERS
QUIET TITLE USED TO ELIMINATE MORTGAGES - EXAMINED
EVICTION PROCESS IN FLORIDA - A LAWYER'S EXPLANATION
REAL ESTATE AGENTS BECOMING PAWN IN SCAM ON ATTORNEY TRUST ACCOUNTS
AGENTS PROMOTING DISTRESSED HOMEOWNER SCAMS
FANNIE AND FREDDIE REO TRANSFER TAX EXEMPTION IS ILLUSORY
MORTGAGE LENDER TAKING MONEY FROM YOUR BANK ACCOUNT WITHOUT NOTICE
A NEW OBSTACLE TO A SHORT SALE – THE COURTS
BANK OF AMERICA NEW SHORT SALE CONTRACT PACKAGE
FORECLOSURE DEFENSE - JUDGE SAYS SHOW ME EVIDENCE YOU ARE THE LENDER!
THIRD PARTY AUTHORIZATION AND ARMS LENGTH AFFIDAVIT LANGUAGE AND MISREPRESENTATION PROTECTIONS
I AM ENTITLED TO A SHORT SALE!
STAYING AT THE TOP OF THE PILE IN A CHANGING ECONOMY
STOP PAYING YOUR MORTGAGE? – FANNIE MAE SAYS YES!
SHORT SALE STANDARDIZATION INCLUDED IN FORECLOSURE SETTLEMENT
UNDERWATER MORTGAGE SETTLEMENT ANNOUNCED BY ATTORNEY GENERALS - WHAT IT MEANS
PRINCIPAL REDUCTIONS - WILL THE BANK GUARANTEE THE VALUE OF YOUR HOME?
TAX RELIEF FOR SHORT SALES EXPIRES IN 356 DAYS
HERE IT IS - THE FIXED FREDDIE MAC SHORT SALE AFFIDAVIT
FREDDIE MAC SHORT SALE AFFIDAVIT CHANGES TAKE EFFECT?
CAN YOU AVOID ASSOCIATION FEES THROUGH BANKRUPTCY PROTECTION
ASSOCIATION ASSESSMENTS AND HOW THEY CAN SURVIVE A FORECLOSURE SALE
FLIPPING FORECLOSURE DECEPTION - FLORIDA FIRM BUSTED
WHAT DOES BEING “IN FORECLOSURE” MEAN?
SHORT SALE RESCUE FRAUD ON DESPERATE HOMEOWNERS
MORTGAGE INSURANCE SUBROGATION AND WHY IT DRIVES THE SHORT SALE DEAL
BANK OF AMERICA PAYING $20,000 FOR FLORIDA SHORT SALE RELOCATIONS
HAFA SHORT SALES START WITHOUT A CONTRACT
CAN A BANK SUE TWICE ON THE PROMISSORY NOTE AND MORTGAGE?
SHORT SALE ARMS LENGTH AFFIDAVIT MAJOR REVISION NEGOTIATED TODAY
STAND-OFF WITH FREDDIE MAC OVER SHORT SALE ADDENDUM - ALTA GETS INVOLVED
Freddie Mac Short Sale Addendum - Item #13 - I DON'T THINK SO!!
FORECLOSURE BUYERS GET INTO BIG TROUBLE!
MASS TORT SCAM HITS DISTRESSED HOMEOWNERS
I HAVE TO STOP PAYING MY MORTGAGE TO GET THE LENDER TO TALK TO ME
HOW LONG DOES A FORECLOSURE TAKE?
FEELS LIKE BACK IN 1938? WHEN ARE BANKS GOING TO LEND?
SHORT SALE SUMMIT REVELATIONS BY BANK OF AMERICA
WHY FLORIDA IS A GREAT STATE FOR DEBTORS AND LOUSY FOR CREDITORS
NEW AND CONFUSING BANK OF AMERICA SHORT SALE "APPROVAL" LANGUAGE
A HOME WITHOUT EQUITY IS JUST A RENTAL WITH DEBT
BANK FORECLOSURE FILINGS DOUBLE
PAY YOUR ASSOCIATION EVEN IF YOU DON'T PAY YOUR MORTGAGE
SOLUTION DESCRIBED - AGENT 100% LIABLE FOR 30% PAYMENT TO IRS BY COLLECTING RENTS FOR A FOREIGN OWNER - follow up article to the preceding article
AGENT 100% LIABLE BY COLLECTING RENTS FOR A FOREIGN OWNER TO PAY 30% TO THE IRS
FRIVOLOUS DEFENSE TO FORECLOSURE CAN COST BORROWER $$$
CAN YOU RUN AWAY FROM A MONEY JUDGMENT?
COMMUNITY ASSOCIATION AS LANDLORD - WHO GETS THE RENT?
SHORT SALE OPPORTUNITIES LOST - THE PROCRASTINATING CLIENT
DOES FILING BANKRUPTCY GET YOU FIRED FROM YOUR JOB?
FREE ATTORNEY REPRESENTATION IN SHORT SALE OR LOAN MODIFICATION
DEFICIENCY JUDGMENT AND LOAN DEFICIENCY COLLECTION SLICE AND DICE
FORECLOSURE EXPRESS vs THE LITTLE ENGINE THAT COULD - IN COURT SHORT SALE SUCCESS!
SHORT SALE DEMANDS THAT ARE ILLEGAL?
MORTGAGE IS NOT AN OBLIGATION TO PAY - COMMON MISTAKEN ADVICE BY AGENTS
MERS MORTGAGES CAN'T BE FORECLOSED - FEDERAL JUDGE RULES
WHAT IF I DECIDE TO DO NOTHING AND JUST LET THE BANK FORECLOSE?
THE FTC AND MARS - ARE REAL ESTATE AGENTS INVOLVED?
SHORT SALE CONTRACT ADDENDUM FOR 2010 - THE GOOD AND THE UGLY
CLEARING BUYER FUNDS - "CAN'T YOU USE OTHER MONEY IN YOUR ESCROW ACCOUNT FROM OTHER DEALS?"
ROBO SIGNING - LENDERS DELAYING FORECLOSURES ?
IRS LIENS ON SHORT SALE PROPERTY - RESOLVING PHANTOM VALUE CLAIMS
ITS NOT THE JUDGE'S JOB TO BE THE DEFENDANT'S ATTORNEY
FORECLOSURE PROCESS FINISHED IN 100 DAYS?
TITLE AGENT AND MORTGAGE BROKERS CAUGHT IN LOAN FRAUD = 30 YEARS
BANK OF AMERICA SHORT SALE APPROVAL LETTER CHANGES
NO DEPOSIT CONTRACT - IS IT A CONTRACT?
DIVORCE, SHORT SALES, LOAN MODIFICATION, DEED IN LIEU AND FORECLOSURE - PLANNING AND SOLUTIONS
TITLE INSURANCE STOPPED ON REO AND FORECLOSURE SALES
GMAC SUSPENDS FORECLOSURE OPERATIONS - JUDGMENTS MAY BE VOIDABLE
WHY IS THE BANK FORECLOSING IF I AM DOING A SHORT SALE (OR LOAN MODIFICATION)?
COLLECTION OF DELINQUENT ASSESSMENTS THRU RENT - POWERFUL TOOL FOR FLORIDA ASSOCIATIONS
The Man Who Really Knows Short Sales...
DEED IN LIEU - PRESERVATION COMPANY FRAUDULENT BILLS - WATCH OUT!
Foreclosure Deficiency Judgment Compared to Deed In Lieu and Short Sale Scenarios
BUY AND BAIL - DISTRESSED HOMEOWNER FEELS REALTORS ARE TO BLAME
BANKS BEGIN TO GO AFTER DEFICIENCY JUDGMENTS - FANNIE MAE POINTS THE WAY
MOTION FOR DEFICIENCY JUDGMENT - FORECLOSURE CONSEQUENCES
Strategic Defaults UP - Loan Modifications Down
IS SHORT SALE FLIPPING CRIMINAL ACTIVITY?
NEW FLORIDA FORECLOSURE DEFENSE RULE FROM FLORIDA SUPREME COURT
FORECLOSURE EXPRESS VS. LITTLE ENGINE THAT COULD
SHORT SALE PRIMER - LAWYER DISCUSSION OF THE SHORT SALE EVOLUTION
FLORIDA SUPREME COURT ADDRESSES FORECLOSURE SALE CANCELLATIONS
EQUATOR SYSTEM - ARE BORROWERS THAT COMPUTER LITERATE?
CHINESE DRYWALL - CANCER CLUSTER - UNEXPLODED ORDINANCE - WHEN THERE IS NO BUYER AT ANY PRICE
SHORT SALE MARKET EVOLUTION - GMAC SOLUTION TO FALSE BUYERS
AGENT PAYS FOR ATTORNEY - THE CONTINGENT SHORT SALE ATTORNEY FEE AND CONFLICT OF INTEREST
YOU LOST YOUR HOUSE - BUT YOU STILL HAVE TO PAY - CNN MONEY AND ACTIVERAIN
SHORT SALE APPROVAL LETTER MISREPRESENTATIONS - PROMISSORY NOTE RELEASED?
WHEN A BUYER BROKER CHANGES THE MLS LISTING PRICE - A FLIP SCENARIO CAUGHT
SHORT SALE LENDER CANNOT REDUCE COMMISSION TO BROKER
MORTGAGE FRAUD and SELLER FRAUD = WE PAY THE BILL
DISTRESSED HOMEOWNERS DEFRAUDED BY ATTORNEYS - EXPOSED IN CALIFORNIA
TENANT PROTECTION LAW AND FORECLOSURE PROBLEMS
Foreclosure is NOT a Remedy - 2nd in a Series
In the preceding blog article I addressed the issues when a borrower waits until they get before a judge to determine that they may want an attorney to represent them. Foreclosure is NOT a Remedy deals with the issues when a borrower has been served with a foreclosure complaint(sometimes mistakenly called a "lis pendens") and more than the time allowed for a response to be filed with the court has come and gone, and no attorney is involved on the borrower's behalf to pursue any available defenses to the foreclosure proceeding.
Foreclosure? When is the Best Time to See an Attorney?
LOAN AUDITS - FORECLOSURE DEFENSE FALLACY?
WALK AWAY FROM THE PROPERTY - STRATEGIC MORTGAGE DEFAULTS GROW TO 26%
SHOULD I PAY MY MORTGAGE? WHEN SHOULD I STOP PAYING MY MORTGAGE?
Your Property is Underwater - What is the solution?
SHORT SALE FLIPS - TITLE INSURANCE PROHIBITED
BUYING A FORECLOSURE - DUE DILIGENCE AND STATUS OF TITLE
MOTION FOR SUMMARY JUDGMENT OF FORECLOSURE - DEFEATED! AND HOW I DID IT
SHORT SALE BUYER CANCELLED CONTRACT EPIDEMIC - DIAGNOSIS AND CURE
MORTGAGE FORECLOSURE RESCUE - THE BAD GUYS DON'T WEAR BLACK!
FORECLOSURE RESCUE AND MORTGAGE MODIFICATION FRAUD - ALERT ISSUED
SHORT SALES PRIMER - BACK TO BASICS UPDATED
SHORT SALE AND FIRPTA TAX WITHHOLDING - IRS ISSUES PRIVATE GUIDANCE
TENANT RIGHTS AND FORECLOSURE - A DISCUSSION OF SAFEGUARDS
MORTGAGE MODIFICATIONS TEND TO FAIL
Here is an interesting article from the Washington Post that describes the difficultiy many homeowners have with modified mortgages.
LENDER SHORT SALE ACCEPTANCE LETTER EXAMPLES - READ WITH CAUTION!
What is a short sale? When giving lectures I like to use the definition as follows: The sale of a real estate property for a price that is less than the total amount necessary to fully satisfy the actual present encumbrance (mortgage) indebtedness on the real estate property.
MULTIPLE SHORT SALE CONTRACTS AND HOW TO AVOID THEM
Why does it take 3.8 contracts to sell a short sale property? Why do Realtors insist on spinning their wheels and getting nowhere selling short sale properties?
FORECLOSURE DEFICIENCY JUDGMENT or SHORT SALE PROMISSORY NOTE or BANKRUPTCY - REVISITED
Whether to agree to a negotiated promissory note in a short sale or allow the house to go to foreclosure is one of the most discussed topics around. It deserves a simple comparison
FLORIDA REAL ESTATE MARKET CONDITIONS RELEASED TODAY
Today one of the state's largest title insurance underwriters release its 2009 Real Estate Forecast and Southeast Florida focus. To those of us that live here it is no surprise that the numbers are grim. To those outside of Florida the numbers are shocking! The report, issued by Attorneys Title Insurance Fund, makes several projections and findings.
FIRPTA and SHORT SALES - DANGEROUS LIABILITY TO BUYER AND CLOSING AGENT
It is critical for Realtors, Buyers, Closing Agents and Lenders to understand the important issues of the short sale when applied to the Internal Revenue Code's Foreign Investment in Real Property Tax Act of 1980 or FIRPTAtransaction because disregard for following the FIRPTA rules will make the Buyer and Closing Agent and possibly the Lender liable to the IRS for the Seller's Tax Liability!!!!!
Hope For Homeowners Act a Failure
I have many desperate homeowners coming to my office begging for ways to save their homes. Often times the homeowners qualify under the published criteria for the hyped Hope For Homeowners program also called H4H by the FHA. The program, passed by Congress in July 2008 was to save the homes of 400,000 homeowners. So far only 300 or so have applied! Why?
A LAWYER'S EXPLANATION OF THE FORECLOSURE PROCESS
As an attorney I often consult with homeowners that are in distress along with the Realtors that represent them in trying to accomplish a short sale. Often a detailed explanation of the foreclosure process would be very worth while for my client to have a thorough understanding of what they may be facing as the lender seeks to enforce the promissory note and mortgage.
IS THE FORECLOSURE FINAL? - AND HOW DOES IT AFFECT MARKETING A SHORT SALE?
As an attorney involved in the procedure of foreclosures and short sales I have been asked this question an increasing number of times - which tells me the legal process is confusing when it comes to the full run of the foreclosure process.
WHAT'S WRONG WITH THE FAR SHORT SALE LISTING AND CONTRACT ADDENDA - AND HOW YOU CAN FIX IT
The Florida Association of Realtors took the lead in making some semblance of consistency, order, and standardized forms for use by Realtors for Short Sale transactions.
What in fact are foreclosure defenses?
SHORT SALE DEFICIENCY DEMANDS AND DEFENSES - The Interstate Highway Analogy
"What chance is there that the bank is going to make me pay the difference (or deficiency) when we are through?" This is the most often asked question I get as an attorney that specializes in residential mortgage loan workouts and (avoiding foreclosure through short sales or modification).
BANK REJECTS SHORT SALE OPPORTUNITY AND MAKES BIGGER LOSS
BAILOUT MISREPRESENTATIONS AND MISCONCEPTIONS
TOP TEN LIST OF SHORT SALE OBSERVATIONS
YOUR Ticket to Normalcy? THE BAILOUT BILL
EMERGENCY ECONOMIC STABILIZATION ACT - WHAT IT MEANS FOR YOU
NUTSHELL VERSION - EMERGENCY ECONOMIC STABILIZATION ACT
BAILOUT FOR HOMEOWNERS - WITHOUT WALL STREET
FLORIDA FORECLOSURE FRAUD BILL - UPDATE
Second Mortgage Short Sale - Holding Up the Railroad Loot
BANKS CREATE BILLIONS (MORE) IN LOSSES -
Foreclosure Deficiency Judgment Compared to Deed In Lieu and Short Sale Scenarios -
Back to Basics - a Review of Short Sales
A-T-T-O-R-N-E-Y Spells T-R-O-U-B-L-E in Short Sale -
FLORIDA FORECLOSURE FRAUD BILL - MY LETTER TO GOV. CRIST
SHORT SELLER STILL MUST DECLARE INCOME ON SALE! -
CALLING ALL ETHICAL LOAN OFFICERS - HELLO? ANYONE THERE?
CREDIT REPORTING AND SHORT SALES / FORECLOSURES - REVISITED -
1099 REPORTING - IT'S THE LAW! - OR IS IT??? -
DIVORCE - CHAINS TO THE UPSIDE DOWN HOUSE VALUE CAN BE BROKEN!!! -
Chained to your home and can't get a divorce? You are not alone!
SHORT SALE FLIP - QUESTIONABLE METHODS -
SHORT SALE FLIP - QUESTIONABLE METHODS - This article is a follow up to an issue discussed in December titled Short Sales and Title Insurance - Critical Look at Hybrid Closing Schemes.
FORECLOSURE DEFICIENCY ORDER VS SHORT SALE NEGOTIATED PAYBACK -
REAL QUESTIONS - HOW DOES A SHORT SALE AFFECT CREDIT SCORES???
FORM RELEASED BY IRS FOR DEBT RELIEF ACT FILING -
No-Conflict Considerations in Short Sale Fees
TOO MUCH MONEY IN THE BANK TO DO A SHORT SALE? - ECONOMIC LOGIC -
Who Says Owner Doesn't Have Time To Do a Short Sale? -
WHAT DO I DO? -- I'M UNABLE TO PAY MY MORTGAGE -
Mortgage Forgiveness Debt Relief Act of 2007- Another Look -
MORTGAGE RELIEF ACT - CHRISTMAS PRESENT TO PRIMARY HOMEOWNERS -
Underwater - The Cycle Repeats Itself -
Short Sales and Title Insurance - Critical Look at Hybrid Closing Schemes -
WHO CONTROLS THE SHORT SALE? -
TAX DEEDS - COURT DEVELOPMENTS NIX SALE! -
LOW BALL SHORT SALES - PLAYING THE ODDS? -
BORROWERS FACING FORECLOSURE OFTEN OVERPAY - STUDY FINDS
TRUE STORY - Renter forges deed, then conspires to sell house and pocket mortgage proceeds -
scary TRUE story
Some Sellers Think They Are ENTITLED To A SHORT SALE -
I had just too many borrowers that "should have known better" in the office this week - so I feel very conservative just now.
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Copyright 2007, 2008, 2009, 2010, 2011 and 2012, Richard P. Zaretsky, Esq.
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