The FAR/BAR and FAR contracts, as they relate to condominium maintenance and assessments is a bit tricky. A knowledgeable realtor should know how to explain the differences to their client, and how to protect their sellers and buyers. On the contract, a seller can either be responsible for assessments due and owing at the time […]
At the Law Offices of Jacqueline Salcines, PA our main purpose in defending homeowners in foreclosure is to protect your rights. As Miami foreclosure defense attorneys, we are experienced in every facet of the mortgage industry to not only uncover deceptive trade practices, predatory lending, and mortgages and/or notes that are defective, but go to […]
At a recent presentation I made to a group of realtors in Miami, I realized there was a lot of confusion regarding who pays the title insurance premium. In Florida, the industry standard is based on the county in which the property lies. In Miami Dade County, the buyer usually selects the title company and pays […]
Obtaining a reverse mortgage will soon be harder. As of May 1, 2015, new regulations will take affect that will require reverse mortgage lenders to follow stricter guidelines. Part of the change includes lenders performing credit checks on borrowers, like traditional mortgages. Applicants for a reverse mortgages, who must be at least 62 years of […]
The other day I was reading an article and it said that 2015 was going to be the comeback of the short sale. In my practice, I never really saw it go away. Short sales are as popular today to strategically exit a property that is underwater, as it was when it started in 2009. […]
Miami Short Sales Lawyer Many sellers and investors in today’s real estate market hear the term short sale but do not understand what a short sale is. A short sale occurs when someone owes more on their mortgage than the property is worth. That is they are what has been classified as “underwater on your mortgage”. […]
Short Sales are up this year. In my practice, I have seen an increase in short sales from borrowers that are either unable to continue to pay their loan modification mortgage. Or, borrowers that have tried to modify and were unsuccessful. In a short sale, the borrower stays in the home while the home is marketed […]
Private Mortgage Insurance is required when you secure a home loan with less than 20 percent down payment. For example, you are purchasing a home at a sales price of $200,000.00 and you are giving a down payment of less than $40,000, which is 20% of $200,000. Which means, you need a loan of more than […]
With interest rates at an all time low, and so many new loan programs, it is a great time to buy real estate. First time home buyers have access to many bank and government incentives. Yet, in order to qualify for a bank loan, first time home buyers should plan ahead. A good budget plan begins one or two years […]
Whether you are selling your property By Owner or have enlisted the services of a real estate agent, broker or realtor, there are certain things you should know to sell your property fast. Choosing the right real estate attorney is key. This one factor will determine whether your closing is smooth and effortless or not. […]