Check out Page 12 of The New York Real Estate Journal. Latest Article published by Andrew Lieb, "Brokerage: End of corporate titles ushers in professionalism". In this article, Andrew discusses the latest update in advertising regulations and the practice of Real Estate Professionals in NY.
Tuesday, June 25, 2013
Monday, June 24, 2013
Attention College Graduates! Take a Year Off Before Law School
Join a thriving law firm that leads our profession through advocacy and advice supported by cutting-edge technology and know-how. This exciting opportunity is for a 2013 college graduate looking for valuable office and legal experience before heading to law school. You will be exposed to real estate transactions and litigation, learn the court system and assist in cases from real estate brokerage and mortgage foreclosure litigation through matrimonial, collections and personal injury. The foundation and knowledge obtained in this position will not only get you ready for law school, but will give you an essential competitive edge before starting your legal career.
Ideal qualities: Self-driven, organized, resourceful, assertive and dynamic. Must strive to be the best.
Join a thriving law firm that leads our profession through advocacy and advice supported by cutting-edge technology and know-how. This exciting opportunity is for a 2013 college graduate looking for valuable office and legal experience before heading to law school. You will be exposed to real estate transactions and litigation, learn the court system and assist in cases from real estate brokerage and mortgage foreclosure litigation through matrimonial, collections and personal injury. The foundation and knowledge obtained in this position will not only get you ready for law school, but will give you an essential competitive edge before starting your legal career.
Ideal qualities: Self-driven, organized, resourceful, assertive and dynamic. Must strive to be the best.
Prove yourself and several opportunities for advancement including law clerk positions throughout law school and beyond. This position is full time and located in our Center Moriches office.
Monday, June 17, 2013
Pursuant to Supplemental Directive 13-04 of this month, the Making Home Affordable Program, including HAFA (short sales) and HAMP (mortgage mods), is extended through the end of 2015.
Additionally, Supplemental Directive 13-04 simplifies the income documentation requirements under HAMP, by modifications to the rules concerning Form 4506-T; Benefit Income; Verification of Monthly Gross Expenses; Wage or Salary Income; Self Employment Income; Rental Income; and Alimony, Separation Maintenance and Child Support.
To illustrate, now the requirement that a servicer must verify monthly gross expenses is removed and a servicer may just rely on a borrowers stated expenses. With respect to the other categories, the Supplemental Directive enables the servicer to "verify such income in accordance with the [...] documentation the servicer relies on when modifying loans held in its own portfolio..."
The extension is certainly welcomed as the foreclosure crisis is far from over. Also, these new rules are smart as they simplify an unnecessarily complex process, which has resulted in both lenders and borrowers being frozen in time when seeking to follow the rules. Instead, its expected that more decisions will be made whether to modify a loan based upon these changes.
Additionally, Supplemental Directive 13-04 simplifies the income documentation requirements under HAMP, by modifications to the rules concerning Form 4506-T; Benefit Income; Verification of Monthly Gross Expenses; Wage or Salary Income; Self Employment Income; Rental Income; and Alimony, Separation Maintenance and Child Support.
To illustrate, now the requirement that a servicer must verify monthly gross expenses is removed and a servicer may just rely on a borrowers stated expenses. With respect to the other categories, the Supplemental Directive enables the servicer to "verify such income in accordance with the [...] documentation the servicer relies on when modifying loans held in its own portfolio..."
The extension is certainly welcomed as the foreclosure crisis is far from over. Also, these new rules are smart as they simplify an unnecessarily complex process, which has resulted in both lenders and borrowers being frozen in time when seeking to follow the rules. Instead, its expected that more decisions will be made whether to modify a loan based upon these changes.
Wednesday, June 12, 2013
HUD just issued its study of incidence and forms of discrimination experienced by black, Hispanic, and Asian renters and homebuyers.
The study finds that "minority homeseekers are told about and shown fewer homes and apartments than whites", as a result of more than 8,000 tests conducted in 28 metropolitan areas.
Clearly discrimination still exists in housing. However, the study takes pains to explain that differing circumstances of classes of people in housing does not equal discrimination. Instead, the discrimination is only present when it causes the resulting disability in housing.
Real estate agents should read the Executive Summary, understand discrimination and be mindful to weed out such practices as we always strive to bring professionalism to our field.
The study finds that "minority homeseekers are told about and shown fewer homes and apartments than whites", as a result of more than 8,000 tests conducted in 28 metropolitan areas.
Clearly discrimination still exists in housing. However, the study takes pains to explain that differing circumstances of classes of people in housing does not equal discrimination. Instead, the discrimination is only present when it causes the resulting disability in housing.
Real estate agents should read the Executive Summary, understand discrimination and be mindful to weed out such practices as we always strive to bring professionalism to our field.
Thursday, June 06, 2013
We are often questioned about our advice at our Mortgage Mania class that its okay to cancel old credit cards. People say - Lieb you are wrong.
Well here is a Business Insider article by John Ulzheimer of SmartCredit.com that seems to agree with us. Have a read and decide for yourselves.
Well here is a Business Insider article by John Ulzheimer of SmartCredit.com that seems to agree with us. Have a read and decide for yourselves.
