LIEB BLOG

Legal Analysts

Saturday, July 30, 2011

Know Before You Owe - RESPA

Know Before You Owe - RESPA
Just last week, on July 21, 2011, the Real Estate Settlement Procedures Act (RESPA) was shifted by the Department of Housing and Urban Development (HUD) to being administered and enforced by the Consumer Financial Protection Bureau (CFPB). To visit the CFPB's website, click here.

In one of CFPB's first initiatives, the Bureau is researching Mortgage Disclosure Statements and making changes for the stated purpose of Simplicity. To have your voice heard on this initiative, click here.

The purpose of the Bureau's initiative is to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires the Bureau to combine the 2 page Truth in Lending Disclosure Form and the 3 page Good Faith Estimate Form.

Lieb at Law supports this initiative because we know from experience that home purchasers do not read forms when they are cumbersome. The key is simplicity with easy to access graphical layouts. We hope that this project is only the start in simplifying imperative consumer information for home mortgage borrowers.
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Friday, July 29, 2011

Foreclosure Primer by Justice Whelan

Foreclosure Primer by Justice Whelan
If you want to learn about the current landscape of foreclosure law, this opinion is the most thought-out and well drafted I have seen on the topic. Take a read by clicking here.

Also interesting is the discussion of the mortgage expert who was used in this matter by the Defendants. I have never heard of such a tactic and the Court seems dismayed as well as to why a purported expert would advance the papers as opposed to the Defendant's attorney. Yet, the key to this blog post is not what is peculiar, but instead how Justice Whelan so aptly explains the current laws in this field.

This is a must read by attorneys entering the field or anyone facing a foreclosure predicament.
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Let's Go Islanders

Let's Go Islanders
There is a very important vote for the future of Long Island coming up on August 1st, which is Monday. While this is not a political blog and I am not going to take a stand on the varying estimates that this arena may cost homeowners in tax payments, I will submit that the Islanders remaining on Long Island is crucial for our region's identity, particularly our real estate market.

Growing up on Long Island, I always knew who I was, an Islander. I was a fan of the team since an early age from watching the glory this team creates when they score a goal or knock an opponent to the ground. Yet, that is not why I am a fan or why I am writing a politically charged post on a blog designed for the real estate community. Instead, I am writing to endorse the new arena proposal for only one (1) reason, IDENTITY. I am an Islander. We only have one (1) professional sports team. The team represents us throughout the entire Country as our ambassadors. The team lets out-of-staters know who we are; that we exist. They are the welcome wagon to our beaches, restaurants, entertainment and wineries. The Islanders represent Long Island and it is imperative for our community to keep our team.

Now the owner, Charles Wang, may be bluffing when he states that this is his last go at saving the Islanders in Long Island, but I don't like playing with fire. Let's keep our team. If you are a Nassau County resident I strongly suggest voting YES for the coliseum on Monday.

Thank you. Let's Go Islanders.
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