FLORIDA REAL ESTATE ATTORNEYS

PROTECTING YOUR INTERESTS WHEN REFINANCING

Property values in South Florida and across almost all parts of the country have finally recuperated and are thriving.  With homes back into positive equity, now is the time to refinance.  Interest rates continue to rise, up almost half a point from the same time last  year.  And with many borrowers just above water, refinancing is playing a large part of the mortgage arena today.

But, borrower beware.  Don’t get scammed when you refinance. Many title companies and sadly attorneys alike, will not advise borrowers that they are eligible for a large discount on their title insurance (a requirement when they refinance with a lender).  It is  called a “REISSUE CREDIT” and what it means is that you do not need to pay your entitle insurance policy again. Rather, you are entitled to a credit if you have your prior Owner’s Policy and are the same owner and the policy is no more than three years old.

THIS AMOUNTS TO THOUSANDS OF DOLLARS IN CLOSING COSTS SAVINGS.

Also, when you approach a lender to refinance, ask to use your own title company.

Don’t be forced into using the bank’s, who can tack on additional fees and costs, that the bank doesn’t want to pay, to you.

If you are refinancing, purchasing a home and obtaining a new mortgage, or looking to modify, call us. At the Law Offices of Jacqueline A. Salcines, P.A. we are experienced attorneys and accountants, holding dual degrees to better serve you and your real estate needs.  Allow us to put our knowledge and experience to work for you.

Without an attorney by your side, you may be paying more than you have to in closing costs.

Ask for a free estimate of costs, or a pre-HUD when you select an attorney to represent you. There is no charge for this and you will get an accurate picture of what you need to pay at closing.

 

Main office 305 | 669 | 5280. Or email the attorney directly: J.Salcines@Salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

JACQUELINE A. SALCINES, ESQ.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL. 305 669 5280

EMAIL: J.SALCINES@SALCINESLAW

 FLORIDA FORECLOSURE ATTORNEYS

The slow down of short sales has left many borrowers facing collection and suits for deficiencies that were not wiped out or waived in a short sale.  In a short sale, the bank agrees to accept less than the amount required to pay off your mortgage.  In the majority of the short sales, and when negotiated properly, the lender waives the deficiency  or the right to go after the borrower for the portion of the mortgage written off or forgiven.  In fact, short sales of primary residences require, under the Fair Debt Collection Practices Act, that all short sale lenders waive their deficiency and 1099-C penalties for the borrower.

What many borrowers and home owners do not know, is that the real estate attorney/title agent that is negotiating the short sale on your behalf, is responsible for negotiating these terms for you. And often, they are not knowledgeable on the law or do not know what is required of the lender.

Short sale approval letters that do not mention the waiver of deficiency or reserve the lender’s right to collect the balance, puts borrowers in jeopardy. The bank has one year to collect the balance and they are doing so more than ever. Particularly, Private Mortgage Insurance companies that have suffered tons of thousands of dollars in losses, paying off the lenders.

If you were the victim of a botched short sale, or have a collection company or lender trying to collect the deficiency against you, it is imperative that you seek the services and counsel of an attorney to represent you.  A lawsuit not answered may result in garnishment of wages, levying of assets and other manners for the bank to collect.

At the Law Offices of Jacqueline A. Salcines, P.A., Jacqueline Salcines, Esq. is both a real estate lawyer and accountant  with extensive experience negotiating sums due with lenders, often settling for pennies on the dollar.

Meet with our real estate attorney today and put us to work for you.  The first consultation is always free of charge.  Or email attorney Jacqueline Salcines directly your real estate question at J.Salcines@salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

JACQUELINE A. SALCINES, ESQ.

706 S. DIXIE HIGHWAY

SECOND FLOOR

 FLORIDA REAL ESTATE and TITLE ATTORNEYS

For the first time since 2014, Miami’s growing home prices have slowed.  Between March and April, the metropolitan area saw an 0.9 percent increase in prices, marking a 0.1 percent drop in growth compare to February.

Although the figure may not seem very remarkable, it is significant as it could signal that a flattening or decreasing in prices is forthcoming.

David M. Blitzer, managing director of S&P Dow Jones wrote in a report last month that “Home prices continue to rise across the country, but the pace is not accelerating” “Recent housing data is positive. Sales of new and existing homes are rising in recent reports and construction of new homes enjoyed strong gains in May”.  The graph above shows the growth in home prices as per S&P/Case Hiller Home Prices Indices.

Based on this assessment, the time to buy or sell is now, before prices radically modify.

If you are  seeking to purchase property or sell your property, contact us today.  We are a fully staffed real estate law firm/accountant and title company.  We are here to help

Whether you are just entering into the Contract for Sale or already in a binding contract,  do not go it alone.  Hiring the services of an attorney makes all the difference in meeting deadlines and obtaining a contract for Sale and Purchase with the best possible terms for you.

At Jacqueline Salcines, PA we are both real estate lawyers and accountants  with extensive experience representing buyers  and sellers in their real estate property needs in Florida.  As an attorney, accountant and title agent for Old Republic National Title Insurance, Inc., we provide a complete array of closing services.  Consult with attorney Jacqueline Salcines, PA today with regard to:

• Review of Contract for Sale and Purchase
• Review of Contract Addendums
• Review of Condominium Riders
• Title search and examination
• Lien letters
• Incorporation for purchase
• Quit Claim Deeds
• Tax implications on purchase
• Survey requests
• Estoppel requests
• Lien negotiation
• IRS/Federal tax lien on property negotiations
• Seller docs
• Preparation of Purchase Money Mortgages and Notes

Meet with our real estate attorney today and put us to work for you.  The first consultation is always free of charge.  Or email attorney Jacqueline Salcines directly your real estate question at J.Salcines@salcineslaw.com

TRUST |  COMMITMENT  | RESULTS

JACQUELINE A. SALCINES, ESQ.

706 S. DIXIE HIGHWAY

SECOND FLOOR