Monday, July 26, 2010
Seller cannot require use of title company
A federal statute called RESPA disallows a seller in a residential real estate transaction that is purchased with almost any mortgage from requiring the buyer to utilize a given title company as a condition of sale. This is a situation that we are seeing more and more in the REO adhesion contract world within which we are currently operating. HUD also has regulations that speak to this issue and have requested public comment on the definition of required use. To see HUD's request for comments click here and please make your voice heard.
Friday, July 23, 2010
Next Bethpage Class - August 12th Mortgage Mania
Real Estate School Registration
Don't forget to register for Mortgage Mania at Bethpage Federal Credit Union on August 12th.
Mortgage Mania - 3 Hours
Instructors - Andrew Lieb, Esq., MPH and Karen Laurence (Mortgage Loan Officer at BFCU)
Summary: It’s time to learn the secrets in order to qualify for a mortgage. This seminar will begin with the basics, discussing everything from the definition of a mortgage to types of mortgages. You will learn who the players are at the bank and how their respective roles impact your deal. Mr. Lieb will discuss the differences between a prequalification and a commitment and how to close your deal smoothly under the Real Estate Settlement Procedures Act. Mrs. Laurence will share secrets that occur behind the scenes at the banks and let you know how to navigate through issues with credit scores. This course will enable you to weed-out high-risk clients and to advise average credit score clients on structuring their applications to get approved. Let’s prevent mortgage contingency clauses from killing our deals.
Don't forget to register for Mortgage Mania at Bethpage Federal Credit Union on August 12th.
Mortgage Mania - 3 Hours
Instructors - Andrew Lieb, Esq., MPH and Karen Laurence (Mortgage Loan Officer at BFCU)
Summary: It’s time to learn the secrets in order to qualify for a mortgage. This seminar will begin with the basics, discussing everything from the definition of a mortgage to types of mortgages. You will learn who the players are at the bank and how their respective roles impact your deal. Mr. Lieb will discuss the differences between a prequalification and a commitment and how to close your deal smoothly under the Real Estate Settlement Procedures Act. Mrs. Laurence will share secrets that occur behind the scenes at the banks and let you know how to navigate through issues with credit scores. This course will enable you to weed-out high-risk clients and to advise average credit score clients on structuring their applications to get approved. Let’s prevent mortgage contingency clauses from killing our deals.
Wednesday, July 21, 2010
Last Chance to Register for Thursday's Commercial Course
Reminder - Register for tomorrow's Commercial Real Estate Course at Bethpage Federal Credit Union. 3 credits - no cost. Share with your colleagues!
Summary:
Instructor(s): Andrew M. Lieb, Esq., MPH; Jennifer Pendzick
Summary: For both residential agents looking to expand their know-how and commercial professionals looking to hone their skills. This survey course discusses the commercial value add, land use (zoning), property management, commercial valuation, the 1031 exchange, and the tenants in common ownership structure.
Class Sponsors: Bethpage Federal Credit Union and Asset Preservation Inc.
Advanced Registration is required. Register at http://www.liebatlaw.com/realestateschool/register/commercial
Summary:
Instructor(s): Andrew M. Lieb, Esq., MPH; Jennifer Pendzick
Summary: For both residential agents looking to expand their know-how and commercial professionals looking to hone their skills. This survey course discusses the commercial value add, land use (zoning), property management, commercial valuation, the 1031 exchange, and the tenants in common ownership structure.
Class Sponsors: Bethpage Federal Credit Union and Asset Preservation Inc.
Advanced Registration is required. Register at http://www.liebatlaw.com/realestateschool/register/commercial
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