SOUTH FLORIDA REAL ESTATE LAWYERS FIRPTA law, which stands for the Foreign Investment Real Property Tax Act, recently changed last year, increasing the withholding from 10% to 15%. Many foreign sellers who enter into Residential real estate contracts, are not aware of this FIRPTA withholding requirement. Foreign sellers believe that because they don’t pay federal income taxes in the United States, then they… Read more »
SOUTH FLORIDA REAL ESTATE LAWYERS It has become increasingly easier, with the use of the internet, and such websites as AVVO.COM and Justia, to locate an attorney who specializes in your area of need. Whether you seek a real estate attorney, a litigation attorney, a landlord tenant lawyer, or any other type of lawyer, finding… Read more »
In a push to simplify mortgage modifications and assist homeowners that could not previously qualify under the traditional modification and Making Home Affordable Program, the FHFA (Federal Housing Finance Agency) announced on March 27, 2013, a new simplified modification program. Called the Streamlined Modification Initiative, the program was created for all Fannie Mae/Freddie Mac backed loans, to assist borrowers in… Read more »
First time home-buyers you are in luck. FHA has unleashed a new program called the HOMEOWNERS ARMED WITH KNOWLEDGE or HAWK program last month for homeowners purchasing for the first time. This program is a way for home buyers to cut their mortgage insurance premium costs by attending counseling classes. The idea behind it is… Read more »
FLORIDA REAL ESTATE ATTORNEYS Florida homeowners facing foreclosures may be able to obtain a 90 day reprieve or stalling on their case due to Hurricane Irma. Florida and Puerto Rico residents in disaster designated areas can obtain what is called or referred to as a “moratorium” on their foreclosure and forbearance on foreclosure proceedings. However, the 90… Read more »
Fannie Mae no longer participates in the traditional HAFA short sale program. The new Fannie Mae HAFA short sale program places more stringent guidelines on borrowers who reside in the properties and want to have a short sale with deficiency forgiveness. HAFA is an acronym for Home Affordable Foreclosure Alternatives and is a branch of the Making… Read more »
Short sales for the third and fourth quarter of 2012 reported a record high, according to a report by the Federal Housing Agency. In fact, short sales and deed in lieus were up 23 percent from the prior year 2011 while REO inventories were down by 36 percent, from their peak in 2010. So… to… Read more »
MIAMI DADE LOAN MODIFICATION AND FORECLOSURE ATTORNEYS While the Making Homes Affordable Program may have expired (the last date for submission was December 30, 2016 and has not been extended by the Trump or Obama Administration) programs still exists if your loan is owned by Fannie Mae, Freddie Mac, Veteran Affairs or the USDA. Programs include interest rate reductions… Read more »
REAL ESTATE ATTORNEY – MIAMI With its single taxation for residents, homestead exemption protection, booming tourism ,and wonderful climate, Florida has long been a desirable state for buyers, sellers and real estate investors. Florida is also a tax-friendly state for real estate investors, providing one more reason to put your property investment dollars in the… Read more »
