LIEB BLOG

Legal Analysts

Monday, November 19, 2012

Landlord Tip - Safety Glass - Is your rental house safe pursuant to statute?

Pursuant to the General Business Law, residential buildings and other dwellings must use safety glass in sliding glass doors, storm doors, shower doors, bathtub enclosures and "fixed glazed panels immediately adjacent to entrance and exit doors which may be mistaken for doors". 

The purpose of this law is to minimize the likelihood of piercing and cutting injuries. 

Landlords, be sure to perform a compliance analysis of your unit before renting. Failure to be in compliance with Statutes and Codes will devastate you if someone is injured in your premises. 

Friday, November 16, 2012

NY Attorney General to Wells Fargo - Modify Mortgages Now

Today, NY's Attorney General, Eric T Schneiderman, warned Wells Fargo to immediately recommence reviewing mortgage relief applications after the servicer / lender suspended its review process until it receives instructions from FEMA. Unfortunately for Wells Fargo, it has a settlement with 49 State Attorney Generals, that its new policy is now likely breaching.

To read the AG's press release, inclusive of his letter to Wells, click here.

While its not clear that Wells Fargo's policy was intended to hurt homeowners seeking a mortgage modification and instead was a response to the storm, it is clear that NY's Attorney General is quite serious about protecting struggling homeowners in his State and helping them to stay in their homes.

This is a good sign for homeowners seeking a modification.

Hurricane Sandy Mortgage Forebearances

Last evening we instructed our continuing education course Foreclosure Filibusters at Newsday's Corporate Headquarters for approximately 100 real estate agents. It was so gratifying to instruct this particular group of professionals as they continuously focused our course on their expressed concern for those who were devastated by Hurricane Sandy. They expressed concern for those presently in foreclosure proceedings and for those who will now likely default on their mortgage. They cared about their community, their friends and relatives. They wanted to help.

We discussed the mortgage modification process under HAMP. We addressed proactive short sales under HAFA. Now, we provide guidance for borrowers who need assistance as a result of Hurricane Sandy, which was a Federally Declared Disaster (FDD) pursuant to the Making Home Affordable (MHA) program. 

Please know that pursuant to MHA - "Any FDD forbearance plan should not impact the status of a homeowner's permanent HAMP modification."

So, if you, your clients or your customers cannot make payments as a result of the Hurricane, contact your servicer / lender and request an FDD forbearance until you can get back to affording life. 

To learn more about Treasury's direction to servicers in how they should make offerings of help to borrowers as a result of Hurricane Sandy, click here

Thursday, November 15, 2012

Open House = Open for Inspection by Municipal Building Inspectors

Last evening, I hosted our monthly meeting for the Real Property Committee of the Suffolk Bar Association where we discussed municipal zoning violations, among other topics. In our company were some Assistant Town Attorneys who clearly articulated that real estate agents should always be mindful, and advise their clients, that hosting an open house also invites law enforcement into the house for Code Inspection.

Therefore, if you are showing a property with illegal structures or occupants - DO NOT HAVE OPEN HOUSES!!!

Monday, November 12, 2012

VA Loans on Veterans Day

VA loans are available to veterans, active duty personnel, certain reservists and national guard members, surviving spouses of persons who died on active duty or died as a result of service-connected disabilities, and certain spouses of active duty personnel who are missing in action, captured in line of duty by a hostile force or forcibly detained by a foreign government or power.

While VA loans are available through private lenders, the VA guaranties loan payments and thereby provides an incentive to lenders to make loans. The key advantages to a VA loan are as follows:



  • You can buy a home without a down payment - as long as the sales price doesn’t exceed the appraised value. (Of course, you have to qualify in terms of income and credit.)
  • You won’t need to buy private mortgage insurance.
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs may be paid by the seller. (You should keep this in mind when negotiating the sales price.)
  • The lender can’t charge you a penalty fee if you pay the loan off early.
  • VA may be able to provide you some assistance if you run into difficulty making payments.


  • To learn about eligibility FAQs, click here.

    Lets pay our respect to our veterans on this Veterans Day!!!