Tenant Evacuation Guidelines for Pest Extermination
Signing a lease binds both the landlord and the tenant to a variety of responsibilities. As the owner of the property, under Florida Law the landlord is responsible for the maintenance associated with pest control—as is the case with termites. Because the process often involves fumigation, it is per ...
Can a Landlord Levy a Fine for not Notifying Them of Rental Intentions in a Set Amount of Time?
We’ve all been there: The lease on your current place is about to end and you have to decide whether to agree to another lease or try to find a new place to live. Occasionally, a landlord will ask to know your intentions before the lease term is over, and taking too long to decide could cost you mon ...
Can you Obtain an FHA Loan if Your Mortgage was Discharged in a Chapter 7 Over 2 Years Ago, but the Property is Still Titled in Your Name?
Though filing a Chapter 7 bankruptcy can improve an individual’s creditworthiness and even allow them to outright keep ownership of certain exempt property, it is not often a cure for upside down debt on a home. Generally, borrowers must endure a minimum "seasoning" period before lenders are willing ...
In FL, is there a Minimum Amount of Days for a Landlord to Notify a Tenant of a Rent Increase?
Updated: 6/2/23 In the state of Florida, there are no rent control provisions. This means that landlords have the freedom to charge any amount they deem suitable for rent. The only limitation on how much they can charge is the availability of tenants willing to pay that price. This concept is oft ...
If You are Renting a Home while in Chapter 13 Bankruptcy, Can You Get it Out of your Name if the Bank has not Foreclosed Yet?
Even if you’ve filed bankruptcy and moved out of your home, your name remains on the property title. Moreover, mortgage liens are generally not discharged in a chapter 13 bankruptcy. Unfortunately, you will remain the owner of record until your lender forecloses or you take the necessary steps to re ...
If you Received a 1099-C from your Mortgage Company, do you Still Owe for a Deficiency Judgment?
A lender files a 1099-C with the IRS when they release the debtor from liability or otherwise waive a borrower’s deficiency judgment. If you received a 1099-C from your mortgage company, then you should not owe a deficiency judgment on the corresponding debt. But when it comes to Florida foreclosure ...
Time Limits on the Foreclosure Process
Going through the foreclosure process is an extremely stressful situation. Nevertheless, banks have a reputation of dragging the process out. How long is an “unreasonable” amount of time, according to the state of Florida? Unfortunately, a common belief is that many Florida courts are unkind to borr ...
HOA Fees After A Foreclosure Sale
“Do I still owe HOA fees after my foreclosure sale?” It seems like owing fees after ownership has been transferred would be grossly unethical, if not illegal, but is this the case? The short answer is “yes”. However, this answer deserves a more detailed explanation. HOA Fees and Foreclosure Eve ...
Is "Phantom Income" Taxable if the Property was Homesteaded by the Owner?
Updated: 6/3/23 Understanding Phantom Income Phantom income, in the context of real estate, refers to income that is deemed to have been received but has not resulted in any actual cash inflow. This often arises in situations involving debt forgiveness. For instance, if a homeowner owes $200,000 ...
The HAFA Program Ends on Dec 31, 2013. What Does that Mean for Homeowners?
The Home Affordable Foreclosure Alternatives (HAFA) Program was enacted as part of the Homeowner Affordability and Stability Plan (HASP) in 2009 as a reaction to the subprime mortgage crisis and subsequent economic slowdown. The HAFA program offers borrowers options of short sales or deeds in lieu t ...
