Real Estate

Note:
Are you looking for your first home, second, more . . . you should always consult an attorney before signing any contract. Remember, realtors are not lawyers and while a real estate contract prepared by a realtor is binding, there may be problems with it, leading to other difficulties that could have been avoided if reveiwed before signing. Always insist on having a lawyer review the contract before signing.

Buying and Selling
As an attorney I have been representing both buyers and sellers in real estate transactions for thirty nine years. One common mistake made when purchasing property, is not letting an attorney review the contract before signing. The realtor will tell you it is not necessary because they use a standard contract . . . well the operative word there is "standard". There is no such thing; that is like saying, you are like everyone else! Every purchase is unique to you the buyer! Real Estate agents are not attorneys and the most critical part of a purchase and sale can wind up being detrimental to you! So before you sign, have an attorney review the contract.

We close the transaction wherever it is most practicable for you the client!

WILLS: (click here) as part of our real estate closing package we also can provide a simple will for each of the parties to the transaction. In addition, we include a Living Will and Power of Attorney. All three are essential documents. The price is $150.00 for each will; $25.00 for the Living Will and Power of Attorney. Total cost is $175.00 per person, if done at the time of the purchase takes place.

Because my practice is limited certain areas of law, I will of course assist you in retaining competent legal counsel to assit you in the following matters.

Banks, ugh, reprehensible, but they have in their back pockets a secret weapon . . . Politicians! No matter what, I will fight for you!

Foreclosure Defense: Mortgage Modifications
     Many individuals are now stuck with mortgages they cannot afford, through no fault of their own. And yet banks continue to run over consumers because they have the money and the politicians in their hip pocket. The law regarding this is somewhat innocuous, however, it still favors the banks, regardless of what you may have heard. Bankruptcy is always an alternative and is sometimes recommended. But before one takes that drastic step, a mortgage modification may be accepted by the lender.

     Mortgage Modifications: If a foreclosure has begun, it is important that you contact my office at once! You must file for a mortgage modification without delay. Once the application is filed, the nightmare of paperwork begins. There are many documents that the bank will request, including one year's bank statement, utility bills, current obligations, and income. This is the best course of action to pursue as it will give you time to explore other options as well.

Short Sales
     Short Sales are becoming increasingly popular and usually when the mortgage modification fails, this alternative is available to some. In simplistic terms, the bank agrees to take less for your property and absolves you of any further liability. A borrower should be reminded that when a foreclosure takes place and the property is worth less than what is borrowed, the difference between the foreclosure price and note that is signed is still owed to the bank. A bank when they foreclose can also bring an action to recover any short fall or deficiency from the sale of the property; while a short sale, in most situations eliminates that threat.