Statute of Limitations: Does It Apply Differently to 2nd Mortgages?
Although it could take a mortgage lender months or even years to initiate a foreclosure after a homeowner has stopped making payments, it’s important that borrowers know what the statute of limitations is and their set time limit. Here’s an overview of the statute of limitations and how it applies t ...
Three Things You Should Know About Selling a Private Mortgage Note
Navigating the sale of a private mortgage note can be complex. Whether you're collaborating with an investor or dealing directly with a potential buyer, understanding the nuances of the process is crucial. You'll need to consider multiple bids to ensure you're getting a fair market value, sure, but ...
Is it Legal to Arrange Short Sale With Your Relative Coming Forth as a Buyer? Any Consequences?
Selling a home can be tough, especially over time when the market and economy changes. Leftover mortgage payments can cause house selling to be a tough task, for no one wants to have existing debts with the bank. For this reason, short sale becomes the best option. A short sale is an agreement with ...
Can Evictions be Expunged?
Updated: 6/2/23 When it comes to renting out homes, every landlord wants to make sure that their potential renter has a clean background check; this can prove that the renter is trustworthy with money handling and treating the property and the landlord’s equipment well. However, some landlo ...
Once Title is Transferred at a Foreclosure Sale, Can the New Title Holder Cut Off the Electricity and Water?
Updated: 6/3/23 Understanding Post-Foreclosure Utility Management When a property changes hands through a foreclosure sale, the new title holder steps into a complex web of responsibilities. One of these is the management of utilities such as electricity and water. In Florida, as in many states, ...
Flood of Foreclosures Expected When Boom-Era HELOCs Turn 10
Homeowners who purchased properties during the 2005-2008 real estate saga may not be out of the water just yet! As if the market hitting rock bottom shattering home values across the nation wasn’t enough for these troubled homeowners, those who got into bed with HELOCs to pad their cash on hand at t ...
Do I respond to a Motion for Summary Judgment After it is Filed, OR After it is Set for a Hearing?
If you’ve been having trouble making payments on your mortgage for one reason or another, you may find yourself being served a Motion for Summary Judgment. So what does this mean for you and your home? A Motion for Summary Judgment is, as it says, a motion filed by one party seeking judgment on a ...
Are Promissory Notes Required in Foreclosure Cases?
When you signed the daunting pile of paperwork during the closing on your home purchase, one of those pieces was a promissory note. A promissory note provides evidence of you borrowing money from your lender – most likely a bank, but this can be a private individual as well. These notes, due to thei ...
When Tenant Responds Within 15 Days of Receiving Landlord's 'Notice of Intent to Make a Claim" What is Landlord's Next Step?
When you enter into a rental agreement with a tenant, it is expected that both parties will uphold said agreement. Unfortunately, that is not always the case. While most tenants do fulfill their end of the arrangement, a select few do not. When this occurs, you can find yourself with damages, unauth ...
Can a Management Company Refuse a Late Rent Payment?
When financial burdens strike – it can be devastating. Not only does it affect your morale, but it can hinder your ability to pay the most necessary of bills: your rent. In an attempt to save yourself from eviction, you go down to the property manager’s office to make a partial payment. Horrifyingl ...
