Tag Archives: tampa real estate

Short Sale | Real Estate Attorneys | The Short Sale Process

Posted on July 17, 2013 by Blick Law

Short Sale SignTrying to avoid foreclosure? A short sale may be your answer. Homeowners facing financial hardship have several options, but a short sale is a very common solution. What is a short sale? A short sale is an agreement between the seller and the lender to sell their property for an amount lower than the balance owed in order to relieve the seller of the mortgage obligation.

Unlike a foreclosure, a short sale may prevent and help you avoid a huge hit to your credit score that foreclosure may cause. Depending on the negotiated amount of the sale and the timeliness of past mortgage payments, a short sale may be a better alternative.

Did you know? Short sale participants can later purchase a home in a shorter time than those who foreclose on their property. In a short sale you can purchase after two years unlike in foreclosure it is after seven years.

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 1099c is issued to the seller, or a deficiency remains which the lender may pursue to collect against the seller.

Changes were recently made to help streamline the short sale process including:

·       An expedited short sale approach for borrowers most in need.

·       Lenders will now have the power to quickly and easily qualify certain borrowers who are current on their mortgages for short sales.

·       HAFA offers home owners and investors accessible solutions to the short sale of your home.

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 your mortgage lender and provide you peace of mind that your short 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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Florida Real Estate Foreclosure Alternatives

Posted on November 21, 2012 by Blick Law

According to a report released last week by the California-based real estate data company, RealtyTrac., Florida leads the nation in home foreclosure rate for the second month in a row in October, with one filing for every 312 housing units. Florida’s rate is more than double the national rate of one in every 706 housing units, and this report confirms that Florida continues to struggle to recover from the recent housing crisis. Though indicators suggest that the housing market is improving, foreclosure still appears to be a significant problem.

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 @ 813-931-0840. Schedule 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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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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Por qué contratar a un abogado de bienes raíces?

Posted on April 16, 2012 by Blick Law Firm

En el pasado, se pensaba que un agente inmobiliario era la única persona que se necesitaba para la venta de su propiedad. Una tercera persona, tan necesaria como el agente inmobiliario, es un abogado de bienes raíces. Mientras tu agente puede asistirte con la logística de venta/compra, junto con la negociación del precio y fecha del cierre, Michael Blickensderfer puede revisar cualquier oferta que usted haga o reciba y asegurarse que sus derechos y deberes sean protegidos.

Usted y Michael pueden discutir y llegar a un acuerdo con respecto a cuanto usted desea que el este envuelto en la transacción y los precios/cargos serán expuestos antes de cualquier decisión final.

Si compra una propiedad, Michael puede:

  • Ayudarlo a entender el contrato de venta y compra, incluyendo como a usted le gustaría tomar titulo de la propiedad.
  • Verificar que no haya deudas o problemas registrados contra la propiedad que impida el uso de ella.
  • Preparar y registrar todos los documentos legales.
  • Clarificar los términos de la hipoteca y trabajar con el banco, si es necesario modificarlos.
  • Inspeccionar los ajustes, incluyendo los impuestos que se deben y costos de utilidad pagados, antes del cierre.
  • Revisar e inspeccionar el cierre y los documentos que usted debe firmar.
  • Manejar el seguro de titulo para protegerlo de pérdidas debido a problemas con el título de propiedad.
  • Asegurarse que usted reciba una registración valida de su propiedad sujeto a las obligaciones que usted aceptó.

Si usted vende su casa, Michael puede:

  • Revisar o preparar el contrato de venta y compra, incluyendo la negociación y términos.
  • Preparar el titulo y poder, si es necesario.
  • Trabajar con los asuntos/problemas del título y ayudar a corregirlos.
  • Revisar e inspeccionar el cierre y todos los documentos que usted debe firmar.
  • Arreglar la transferencia de depósitos de seguridad.
  • Manejar los certificados de seguro, si es necesario.

Otros servicios reclaman que pueden hacer todo el trabajo legal por usted pero cuando se refiere a bienes raíces no es el momento de ahorrar algo de dinero o “hacerlo usted mismo”. Michael conoce todos los estándares que se deben llevar a cabo.  Aunque muchos documentos de bienes raíces son similares, el acuerdo/contrato de venta y compra pueden variar de acuerdo al estado/lugar.

Aun más, algunas compañías de titulo y bancos requieren el uso de un abogado para asegurarse que el titulo este correcto, no haya obligaciones en contra de la propiedad y la transacción se complete.

Si usted está listo para hacer o aceptar una oferta de una propiedad llame a Blick Law Firm hoy y hable con uno de nuestros miembros del  equipo de bienes raíces. Usted todavía puede firmar la oferta con la seguridad que Michael lo ayudara.

 

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