201604.15
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Creative Financing = Creative Tax Headaches

A client called today to have our lawfirm engage in a discussion with his CPA as to tax ramifications for “subject to” sales of homes.    For those of you who have never considered using “creative financing” to sell your home or buy a home, a “subject to” means the buyer takes over the seller’s mortgage…

201503.31
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The Triple “I” Intersection

At the intersection of Inventory, Income and Interest rates, we find the biggest pool of eligible buyers of new homes.     New road projects at that point on the map appear to be moving to a place that will reduce the pool of eligible buyers.   Take a minute and listen to the Real Estate Industry Blog…

201501.06
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Another Reason to Avoid Foreclosure

Our firm was recently contacted by a borrower who formerly took advantage of our free consultation on foreclosure prevention cases.   The homeowner ultimately decided to allow his home to go into foreclosure and not fight for a short sale or other remedy.  I don’t remember all the details why the decision was made to take…

201408.11
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When the Going Gets Tough . . .

Over the past five years, our short sale practice has become ever more streamlined and efficient.  We’ve seen time required for approvals drop as all the major lenders in the Virginia market recognize our firm name and even have first name relationships with some of our staff members who have been with us throughout the…

201407.14
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Status of Mortgage Debt Relief Act

Still no news as of this post on the resurrection and extension of the Mortgage Debt Relief Act passed by President Bush in the final days of his administration.   A proposed bill cleared the Senate subcommittee on finance several months ago but it has not made progress through the full Senate or House yet.  President…

201405.29
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Web Based Auctions, Buyer Beware!, Realtor Beware!

Attorneys across the country who share the passion to level the playing field between struggling homeowners and mortgage companies often network and discuss market trends, new strategies to defend against foreclosure, and the latest lender tactics.   Among the latest chilling experiments by the mortgage industry many stretch the concept of an auction in ways that…

201405.07
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It Was Inevitable – Thanks a lot QM!

We try not to wander too far afield into the political end of things.  But sometimes you just have to give credit where credit is due and point out some of the obvious consequences of laws affecting lenders, borrowers, default, and legal ramifications.   Dodd-Frank and the ensuing Quality Management or QM regime enforced upon the…