Wow! I have been a real estate attorney for thirty years and for perhaps the first time a real estate legal issue is making the news: Can a first mortgage be refinanced or modified without the consent of the second mortgagee? President Obama unveiled his $275 billion housing bailout yesterday, the core of which is mortgage modifications or
The new Administration is seriously considering a revision to the bankruptcy law that will allow Judges to "cram down" mortgages on residential properties. Actually bankruptcy judges already have the power to modify mortgages on vacation homes - just not primary residences. Consumer advocates argue that by giving bankruptcy courts the power
Bad Idea. Unless you absolutely MUST sell your home now, don't even put it on the market. Here are my reasons: 1. Buyers are all looking for a steal. They can read the papers just like you and me and they see that median home prices are, on average, down 20% from 2006 peaks. And, in certain areas of the country, the decline is more like
Posts
