Can HOA fees really stop a real estate closing from taking place? Yes; HOAs in Florida are known to attach liens and other unpleasant items that become encumbrances on title for various reasons, and they are known to prevent closings from happening. This is frustrating to say the least, and it places an undue burden on the housing market of the Sunshine State.
HOA liens have become a sad reality for many communities in Palm Beach County and across the state. This has become a prominent issue since the bursting of the housing bubble and the avalanche of foreclosures that started circa 2007. Unpaid HOA fees quickly depleted the coffers of many gated communities and condominiums; this turned into problems with trash collection, landscaping, exterior maintenance, and even cable TV service. As a result, many HOAs began to file liens on abandoned and foreclosed properties. Continue reading
Whether you are buying a home or selling one in south Florida, having an attorney on your side can be beneficial, especially if the sale is a complicated one. Unfortunately, with all of the recent foreclosure and bankruptcy problems in Florida, more real estate sales tend to fall in that complicated category these days.
An experienced real estate lawyer can help you review a sales contract to make sure that all of the provisions and contingencies in it have been written with your best interest in mind. She can also check for unrecorded liens, which could threaten your ownership of the home or could potentially cause the sale to fall through. Continue reading
Recently, a 23-year-old squatter tried to take ownership of a foreclosed South Florida waterfront mansion without paying a dime for it. Instead, he attempted to take advantage of an old Florida law that allows a person to gain ownership of a property simply by living in it for seven years and paying the taxes.
According to a recent article in the Orlando Sentinel, among those hardest hit by the housing crash were Hispanic homeowners. In some instances, these homeowners may have fallen prey to unscrupulous loan officers who burdened them with terrible sub-prime mortgages; while in other situations, their problems may have stemmed from a language barrier. Unfortunately for many of these Hispanic homeowners, the end result has been foreclosure and the eventual loss of their homes and hard-earned money. Continue reading
The end of 2012 was dominated by talk of two different types of doomsday scenarios. First, there were the fears of a Mayan apocalypse, which was then followed by the more realistic fear that the United States was about to go over a financial fiscal cliff. Continue reading
Five years ago, when home prices first began their steep decline from their once lofty heights, mortgage lenders were more likely to repossess a home than to try and strike a deal with the owner. Times have changed and, according to the Los Angeles Times, lenders are now more willing to work with financially stressed homeowners. Short sales, for instance, in which a homeowner sells their property for less than they owe on the mortgage with a bank’s approval, have become more common. Continue reading
There is both good and bad foreclosure news for Floridians. The good news? Nationally, the number of foreclosures has been steadily declining. According to a report released by CoreLogic, a mortgage-tracking firm, the number of foreclosures nationally in November 2012 had dropped 23 percent from the same time in 2011. The bad news?
Real estate transactions are often very complex and confusing, yet it is not unusual for people to balk at paying a real estate attorney to help guide them through what can be trying and difficult negotiations. However, not paying for the knowledge that an experienced real estate attorney can provide could actually end up costing you more money in the long run if an important deal should fall apart or you should unknowingly agree to an unfair settlement. Continue reading