As soon as a foreigner has been in the United States for 183 days in your first calendar year, their income is subject to U.S. Tax filing. However, it is not just the income they earn in the United States, but also the income they earn abroad, be it Venezuela, or another foreign country. The… Read more »
The South Florida housing market, as well as that across the country, has witnessed double digit price increases over the span of a year, from 2012 to 2013. In fact, industry leaders and professional claim that we are in or entering another bubble in South Florida, due to the lack of inventory. It is a… Read more »
You have stopped paying your mortgage, have been served with a foreclosure complaint, Lis Pendens, and don’t know what to do. Although filing an Answer pro se (representing yourself on your own behalf) is better than not filing anything at all, since a reply is required 20 days from the date of service of you will… Read more »
NEW MORTGAGE RULES IN 2013 WILL IMPACT BORROWERS Last week, the Consumer Financial Protection Bureau announced new rules, known as the Qualified Mortgage (or QM for short), for mortgage financing. This new regulation, while creating a safer harbor for the lenders, reducing their risks, drastically impacts homebuyers and their ability to obtain loans. At the start of 2013, lenders… Read more »
The March 2, 2015 deadline to apply for Homestead Exemption in Miami is fast approaching. A homestead exemption is when a property is owned by a person that uses the home as their primary residence as defined by Florida Statutes. In order to qualify for a homestead exemption, aside from being a primary residence, the… Read more »
Frequently in my practice I am asked by borrowers seeking foreclosure defense and mortgage modifications, what the Statute of Limitations is with regard to mortgages and notes entered into by borrowers who have now stopped making mortgage payments. The new word on the street that is quickly penetrating neighborhoods and water coolers alike is Statute of Limitations, and those that have had the… Read more »
HOMESTEAD EXEMPTION DEADLINE LOOMING – MARCH 1 All applications to claim homestead exemption in Florida must be filed by no later than March 1, 2022. In order to be eligible, you must have owned the property on or before January 1, 2022 and submit a timely application. How to Apply: You may complete the application… Read more »
REAL ESTATE ATTORNEYS – MIAMI DADE New programs exist in Miami Dade that combine 30-year, fixed rate mortgages with available down payment and 2nd mortgage assistance. They can provide significant closing costs savings for homeowners that do not have enough funds to get to the closing tables. The new home buyer assistance programs include: FLORIDA… Read more »
If your amortizing HELOC which originated right before the bubble burst, has now shot up to a higher than manageable interest rate, you have options. A HELOC, or Home Equity Line of Credit are loans that are given against the property, or mortgage, which allow homeowners to cash out or obtain cash from the bank. … Read more »
