Category Archives: Real Estate

Short Sale Common Questions

Posted on August 27, 2012 by Blick Law

Homeowners are often unsure of what options are available when they reach financial hardship. A short sale is an agreement by a mortgage lender to sell property for an amount lower than the balance owed in order to relieve the buyer of the mortgage obligation.

A short sale can be a helpful tool when trying to avoid foreclosure. Depending on the negotiated amount of the sale and the timeliness of past mortgage payments, a short sale may help avoid the huge hit to your credit score that foreclosure causes. Additionally, short sale participants can later purchase a home in a shorter time than those who foreclose on their property.

A short sale can be completed by finding a buyer to purchase the home who is willing to pay current market value, and having the mortgage provider agree to the sale. Any shortage after the sale will then either be written off by the lender and an IRS 1099 is issued to the seller, or a deficiency remains which the lender may pursue to collect against the seller.

The short sale process can be complicated, and the lender may not be willing to negotiate. It is important to know that a real estate attorney can help negotiate the sale and terms with the mortgage lender and provide you peace of mind that your sale is being handled by an accountable professional.

If you have legal questions regarding your short sale or you are considering your options, call Blick Law Firm today at (813) 931-0840 to schedule a free 15-minute consultation with attorney Michael Blickensderfer.

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Title Insurance, what is it?… and why you need it?

Posted on August 8, 2012 by Blick Law

Title insurance is a rarely understood protection necessary when purchasing a new home or property. Contrary to other forms of insurance that protect against future loss or damage, Title Insurance protects against past events that may cause loss or damage after the purchase of new property due to a failure or defect of the title.

When purchasing Title Insurance, the title company will conduct a search of public land records to discover potential matters affecting the title of the property. Common issues include: improperly prepared deeds, open mortgages, wills, probate proceedings, outstanding judgments or tax liens against the property or individuals, covenants and restrictions, and easements. After the records search, the buyer is then issued the Title Insurance.

While the records search conducted by the title company is generally exhaustive, many problems can still exist and affect the validity of the title. Disputes can still arise due to mistakes in the public record, previously undisclosed heirs claiming to own the property, and fraud…. These hidden hazards do exist, and Title Insurance will protect you against these potential problems and pay for any legal fees involved in defending a claim.

It is important to not only seek a title company for protection when purchasing a new home, but also making sure that the title company has an experienced and competent real estate attorney.

A real estate lawyer that handles and serves clients in title services is able to take legal action as needed to protect clients from any future problems that may arise. An attorney can properly analyze your housing situation to handle any issues, insuring you and your loved ones a secure real estate closing for your new home.

At Blick Law Firm we provide title insurance and escrow services to clients throughout the entire State of Florida. Call us today at 813-931-0840. Make an appointment for a free 15 minute consultation with attorney Michael Blickensderfer. Blick Law Firm seeks to help the hurting and those in need. Think quick, call Blick!

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Making Home Affordable program

Posted on August 3, 2012 by Blick Law

The Making Home Affordable program is focused on stabilizing the housing market by providing relief to struggling homeowners.

MHA can help in a variety of ways by lowering monthly payments,  reducing interest rates even if you owe more than your home is worth, or if home ownership is no longer affordable, MHA offers a way out while avoiding foreclosure. In an effort to enable more struggling homeowners to take advantage of the Making Home Affordable Program , the Government  has extended the application deadline of the program to December 31, 2013.

Getting approved for assistance through the MHA program can be a difficult process, and Homeowners who prepare diligently are more likely to receive a positive result.

At Blick law firm we have had success in providing relief to homeowners through the MHA program, so before you begin exploring your options call Blick Law Firm at (813) 931-0840 to schedule a free 15 minute consultation with attorney Michael Blickensderfer.

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Foreclosure potential solutions

Posted on July 25, 2012 by Blick Law

Foreclosure is the process in which the lender of mortgage money takes control of the mortgaged property and sells it to raise money to pay on the debt owed by the borrower. A foreclosure happens when one stops paying the mortgage payments, usually for a period of at least three to four months. At that point, the mortgage company has a right to foreclosure, and legally follows a standard process similar to an eviction.

If your property becomes subject to foreclosure, here are some potential remedies:

Reinstatement – To avoid the completion of the foreclosure process, you may be able to reinstate the loan by making payments on the past due amount. Generally, the lender will be cooperative if you bring your account up to date, or demonstrate that you now have the means to catch up on the past due payments.

Mortgage Modification – The lender may be willing to modify the terms of the mortgage. Modification of the agreement may involve adding payments to the end of the mortgage and simply extend the term of the loan. Modification of the mortgage agreement may also be made by reducing the interest rate of the original Mortgage Agreement, and it could include partial forgiveness of the amount of money you owe.

Forbearance Plan – As a borrower you may be able to file a forbearance plan with your mortgage provider. Under this arrangement, the lender will agree not to pursue the foreclosure action; but, the lender will likely require proof of adequate means to satisfy the repayment on the loan. This is generally a viable option if you have encountered a temporary setback such as poor health or loss of employment.

Deed in Lieu of Foreclosure – You may also deed the home back to the mortgage provider if the lender agrees to accept a Deed in Lieu of Foreclosure. The lender will take back the property and cancel the remaining debt. You will be unable to keep your home, but avoid foreclosure and minimize the detriment to your credit score.

Short Sale – To avoid foreclosure, you may also be able to sell your home for less money than owed. A short sale can be completed by finding a buyer to purchase the home and is willing to pay current market value, and having the mortgage provider agree to the sale. Any shortage after the sale will then either be written off by the lender and a IRS 1099 be issued to the seller, or a deficiency remains which the lender may pursue to collect against the seller.

Foreclosure continues to be a growing problem in Florida, and if it happens to you, the worst thing to do is ignore it.

Call Blick Law Firm today at 813-931-0840. Make an appointment for a free 15 minute consultation with Attorney Michael Blickensderfer to see what your legal rights are in defending a foreclosure action.

 

 

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Shopping around for an attorney? Choose wisely!

Posted on July 11, 2012 by Blick Law

When shopping around for a Tampa attorney online, many consumers first instinct would be to choose the lowest rates that an attorney will offer. However, going for a cheap rate attorney may not be the best strategy.

In the economy today, competitive advantage makes it easy for a consumer to find the best for the cheapest price. However, when it comes to legal counseling, many times that is not the case.

When “shopping” around for an attorney, cheaper is not always better. Here are a few tips to look for when you are searching the internet for a Tampa lawyer.

1)     Cost. Comparing cost is very important and of course should weigh into your decision making. In this economy, finding an attorney willing to give their clients payment plans, if appropriate can seal the deal when it comes to retaining an attorney.

2)     Experience. Do a little research on the attorney you are seeking and check his background. An attorney has been practicing for one month will more than likely not be as capable as an attorney that has been in practice for 10 years. Having an attorney with experience will add value to your case and will allow the experts to takeover, ensuring you relief in whichever situation you may be facing

Attorney, Michael C. Blickensderfer has been in practice for over 25 years. His experience includes serving as a prosecutor both in Florida and in Long Island. In the past he served in cases dealing with narcotics, Medicaid fraud, and DUI offenses within New York City. He has also served as a Public Defender, practicing criminal law within the felony division in Tampa, Florida. Other legal experience includes real estate, family law, criminal defense, social security and labor law.

Mr. Blickensderfer’s background includes courtroom and trial experience, both in criminal and civil cases.

3)     Licensed. Many times an attorney may practice in more than one state. An attorney that has more than one license is well-versed in legal laws, statutes and legal systems.

Attorney Michael C. Blickensderfer is licensed to practice law in Florida, New York and New Jersey. Having such a diverse familiarity of the legal system allows him to provide his clients with expert knowledge earned through many years of study.

4)     Ethics. When hiring an attorney clients’ seeking to get best results may lean towards a hard, cut-throat lawyer. However, rather than choosing based on commercial ads of what an attorney portrays themselves to be, check resources. Retaining an attorney based on integrity and moral standards may be the wiser choice.

Our Mission: Blick Law Firm‘s mission is “Helping the Hurting.” Grounded as a Christian law firm and following Christian values, the firm strives to not only meet the legal needs of its clients and their families, but also to provide physical and emotional support. We treat each client equally and with the utmost respect, offering high-quality legal representation and counsel to those who need us most.

If you are looking to retain a low-priced attorney, more than likely you will get what you pay for. Be sure to do what is best for you and your situation. Don’t sell yourself short by only considering the financial perspective. Instead, consider the overall situation, such as, the level of experience, morals and values brought to both you and your case by the attorney you choose to retain.

Call Blick Law Firm today and speak with us at 813-931-0840. We offer free case evaluation and want to strive to not only assist with your immediate legal needs, but assist for results that will make for a blessed and prosperous future!

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Filing a hardship letter to lenders

Posted on July 5, 2012 by Blick Law

Part of the loan modification process is filing ones hardship. When applying for a loan modification the lender will require the filing of a hardship letter as a written explanation as to why and what was the cause for the homeowner to fall behind on making mortgage payments and assisting to prevent a foreclosure from proceeding.

A hardship letter provides an explanation to the lender detailing the current issues that are affecting the homeowner’s ability to meet their financial responsibilities. It needs to properly cover all of the issues in a manner which is clear, concise and to the point.

This can be accomplished with the help of an experienced real estate attorney who will review the hardship letter, along with the any other documents required for consideration, and can make any necessary suggestions to the documentation, regarding content, so it is efficient for the lender to approve.

Here is the basic information that must be provided in a hardship letter to the lender:

  1. Name, address, phone number and account number.
  2. State the financial assistance/ plan you are seeking.
  3. Describe your financial hardship. What were the causes that lead to falling behind in one’s mortgage payments? This is an outlined biography of your current “life” issues.
  4. Include life circumstances which may have altered and added to your hardship such as: illness, loss of job, reduced income, failed business, job relocation, death, death of spouse, divorce, military separation, military duty, reduced income, medical bills, property damage and alike.

*Remember that the hardship letter is only the beginning of the loan modification process. It is essential in determining assistance for you if you are trying to avoid the foreclosure of your home.

If you are looking to STOP a foreclosure and stay in your home, contact Blick law firm and speak with an experienced foreclosure defense attorney as soon as possible. Your hardship letter will be reviewed, and any necessary changes, additions and/or suggestions can be provided to aid you through the daunting loan modification process.

Call today to receive your free case evaluation at 813-931-0840. Think quick, call Blick!

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