Strategic Real Estate Consulting
Because many servicers and investors are new to the CWCOT program, Chronos Solutions offers high-touch service that walks them through the whole auction process. Whether the property is being sold through a live auction at the courthouse or through an online auction process, Chronos maintains close contact with the bidders through RealtyBid.
Source: HUD program offers investors a discount on default properties | 2016-07-26 | HousingWire
Most professional books that are on my bookshelf are not what I would call recreational reading. It seems to me that a better idea would be two different categories of reading, professional and recreational book lists.
PROFESSIONAL READING LIST
RECREATIONAL BOOK LIST
This post will be updated periodically.
The Florida Bar Association has a proposal to require Homeowners’ Associations to hire a lawyer for such tasks as sending demand letters for unpaid dues, violations of CCRs, collecting debts, and drafting liens. It is under review by the Florida Supreme Court. The Florida Legislature passed a law last session that would allow the HOA’s managers to continue those administrative duties. It’s unclear whether the Florida Supreme Court’s opinion (requested by the Florida Bar Association) will be affected or how their opinion might be influenced by this new law. There is no set time by which we can expect an opinion from the Florida Supreme Court. Just another budget item to delve into on your HOA financials. Might there be legal risk lurking in how your HOA’s management handles its legal risks? Also verify what is covered for Board members and HOA members within your association’s insurance policies.
Do you golf? Somebody always asks that question. My response is that I have clubs. Still do not have enough time to actually use them, but I have a set. We have been members of two other golf clubs, prior to the one we belong to now. My husband is the only person in this family who actually has the time to golf. Why we needed to belong to more than one club at a time is a point of debate. If you are completely honest with yourself, you may have to admit that you too do not have enough time to play golf regularly & join a club because golf takes too much time. I would have to say that’s my guess about why participation in the sport has dropped off. Golf takes about twice as much time as tennis. Maybe a difference of 3-4 hours per week. Multiplied over a year that amounts to 150-200 hours. You need to be retired or POTUS to be able to do that unless you devote every weekend to it, which won’t make your spouse happy if they are not playing with you. Younger people in their prime working hours look at that time commitment and think of what else they could be doing – working their way up at their company or building a business. And when will you find time for your family commitments? Real estate can be an ideal business and investment!
Year to date 2014 has produced about 200,000 short sales, which is a drastic reduction year over year. The tax code provision allowing for non-taxation of cancellation of debt has not been renewed. There may still be something enacted, but in my estimation it wouldn’t be before mid-term elections. In any event it would have to be made retroactive to cover the 2014 tax year. If you live in a judicial foreclosure state like Florida, which has deficiency judgments, you can negotiate any cancellation of debt amount, whereas in a foreclosure you cannot. Additional expenses get added on to your cancellation of debt amount that gets reported to the IRS, including attorney’s fees, repairs, etc. If you are eligible for a short sale (just because you have a property you owe more against than its market value does not make you eligible for a short sale) you definitely want to talk to professionals for the legal and tax consequences of a foreclosure. If you are not eligible for a short sale, please consult an attorney to help you understand your options. One might be bankruptcy, but if you have other assets, your lender will most likely have a requirement that you use them to settle your debt. If you have a short sale situation many investors will probably approach you and if you do not have a real estate professional who understands short sales, you could end up in trouble by signing on to a sales contract. Just make sure you take any documents to an attorney for review. Lots of homeowners trying to do short sales now are running into roadblocks with their lenders. There is a bit of lender chaos now. Work with someone who can actually be helpful to you.
Loading...