Tag Archives: real estate attorney

Bank of America test pilots ‘Mortgage to Lease Program’ letting those facing foreclosure rent their home

Posted on April 25, 2012 by Blick Law Firm

Bank of America launched a pilot program offering some of its mortgage customers who are facing foreclosure a chance to stay in their homes by becoming renters instead of owners.

About 1000 homeowners facing foreclosure in Nevada, Arizona and New York are test piloting this “Mortgage to Lease” Program offered by the bank.

Underwater homeowners who are struggling to make hefty mortgage payments are giving their homes to the bank and turning around and renting for up to three years at a lower monthly cost.  If the program is successful, it may be rolled out in other states.

How to qualify for the program?

Participants must be at least 60 days behind on their mortgage, have a deficiency in the loan to value, no second mortgage, exhausted their mortgage-modification alternatives and make enough income to pay the rent.  *The loan must be owned by Bank of America.

The goal of this program by Bank of America?

The goal is to see potential benefits from helping to stabilize housing prices in the surrounding community as well as, curtail neighborhood blight by keeping a portion of distressed properties off the market.

Homeowners can’t apply for the program. If you qualify, Bank of America will contact you. Fannie Mae has a similar program, though it is not widely used.

Will this program work?

Depends on the homeowner’s individual circumstance. While some might want to stay in their home, others might be better off moving.

How will the bank benefit?

Bank of America will avoid costs of foreclosure and earn money when the home is eventually sold.

Although this program is not yet available in Florida, contact a Tampa real estate attorney today to discuss your housing options.  Attorney Michael Blickensderfer is experienced and able to assist you with your short sale transactions, loan modification or foreclosure defense. Call us today at 813-931-0840.

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What options do I have to stay in my home?

Posted on April 25, 2012 by Blick Law Firm

Thank you for watching Minute with Mike, free legal advice answered by attorney Michael C. Blickensderfer every Wednesday at Noon.

Whether you are looking into leaving or staying in your home, you should check out all your options.

Blick Law Firm provides top legal council for those seeking Loan Modification options, looking to do a Short Sale on their home, or assisting those in Foreclosure Defense.

With over 25 years legal experience, Attorney Michael C Blickensderfer can assist you with guiding you in the right direction, considering what is best for you and your loved ones.

Blick law Firm is a local Tampa Bay law firm specializing in personal injury, criminal law, Chapter 7 bankruptcy and real estate law all across the state of Florida.

For further information regarding real estate law and your options to keep your home or sell, please visit our website at www.blicklawfirm.com or call 813-931-0840.

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PIP Law Changes Affect $10,000 Coverage in an Auto Accident

Posted on April 18, 2012 by Blick Law Firm

Thank you for watching Minute with Mike, free legal advice answered by attorney Michael C. Blickensderfer every Wednesday at Noon.

Blick law Firm is a local Tampa Bay legal firm specializing in personal injury, criminal, bankruptcy and real estate law all across the state of Florida.

In recent Legislation news, the Personal Injury Protection (PIP) law was recently changed to ensure auto accident victims seek medical treatment quickly to qualify for full insurance coverage.

Florida’s PIP insurance law as adopted by House Bill 119 now requires those injured from an auto accident to seek medical treatment within 14 days of their injury.

If an accident victim does not seek treatment within the 14-day window, they will loose access to full PIP coverage.

The practical effect of these changes will be to limit most PIP claims to only $2,500 in benefits, as most auto accidents involve soft tissue cases not falling under the “emergency medical condition” definition. Everyone is required to obtain and pay for the $10,000 in PIP coverage, but the insurance companies will limit claims to $2,500, resulting in a windfall to the insurance companies and an injustice to the policy holder/ accident victim.

For further information regarding PIP Law changes in Florida please visit our website at www.blicklawfirm.com or call 813-931-0840.

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Can I sue a company for Personal Injury?

Posted on April 17, 2012 by Blick Law Firm

Thank you for watching Minute with Mike, free legal advice answered by attorney Michael C. Blickensderfer every Wednesday at Noon.

Blick law Firm is a local Tampa Bay legal firm specializing in personal injury, criminal, bankruptcy and real estate law all across the state of Florida.

The owner, Michael C. Blickensderfer has 25 years legal experience in Florida, New York and New Jersey. Blick Law Firms practice areas include criminal law, DUI/ Traffic, real estate transactions, loan modifications, short sales, foreclosure defense, bankruptcy, title insurance and real estate litigation.

We also serve clients in personal injury, including auto accidents, motorcycle accidents, slip and falls premises liability, dog bites, marine and aviation accidents and wrongful death.

For further information on this video visit Blick Law Firm on YouTube.

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Why hire a real estate lawyer?

Posted on March 21, 2012 by Blick Law Firm

In the past, it has been thought that a real estate agent is the only other team member you need while selling or purchasing your property.  A third member, just as necessary as the agent, is a real estate lawyer.

While the real estate agent can assist you with the logistics of selling/buying, along with negotiating a price and closing date that is right for you, Attorney Michael Blickensderfer can review any offer you make or receive and make sure that your rights are protected and your duties clearly defined.

You may benefit from hiring a real estate attorney to assist you with the process.

If you’re buying a home, Blick Law Firm can:

  • Help you understand the purchase contract, including how you will take title on the property.
  • Check that there are no covenants, easements, liens, etc. registered against the property that will impede your use of it.
  • Prepare and register all the legal documents.
  • Clarify the terms of the mortgage and work with your bank, if necessary, to modify them.
  • Scrutinize the adjustments, including taxes owing and utilities costs paid, prior to the transaction closing.
  • Oversee the closing and review all the papers you will be required to sign.
  • Arrange title insurance protection to protect you from losses due to title defects.
  • Ensure you receive a valid registered ownership subject only to the liabilities you have accepted.

If you’re selling a home, Blick Law Firm is able to:

  • Review the binder and review or prepare the purchase and sale agreement, including negotiating its terms.
  • Prepare the deed and power of attorney if necessary.
  • Deal with title issues as they arise and help correct them.
  • Oversee the closing and review all the papers you will be required to sign.
  • Arrange for transfer of security deposits.
  • Arrange for insurance certificates if needed.

Hire a Tampa real estate attorney who understands not only the standards, but the law, that must be met.

Although many legal forms used in real estate are similar, binder or purchase and sale agreement forms vary from state to state. Get the help you need today.

Further, some title insurance companies and mortgage lenders require you to use a lawyer to ensure that, among other things, the title is good, there are no liens against the property and that the deal will close as expected.

If you’re ready to make or accept an offer on a property, call Blick Law Firm today and ask to speak to our real estate team.  *You can still sign the offer with the contingency that you want Michael to review first.

Other services: short sale negotiation, foreclosure defense, probate and wills, bankruptcy.

Think quick, call Blick! 813-931-0840

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Tampa Bay home prices hit new low

Posted on March 31, 2011 by Blick Law

The housing woes continue.

Tampa Bay area home prices fell by 1 percent in January and hit their lowest level since they peaked in early 2006, according to a Standard & Poor’s/Case-Shiller home price index released Tuesday.

The bay area and 10 other cities — Atlanta; Phoenix; Charlotte, N.C.; Detroit; Las Vegas; Chicago; New York; Miami; Portland, Ore.; and Seattle — are at their lowest levels since home prices peaked in 2006 and 2007, the index showed.

Nationally, the index of property values in 20 cities fell 3.1 percent from January 2010, the biggest year-over-year drop since December 2009, the index showed.

Although prices continue to fall, bay area sales of existing homes incr… Read More.

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