We will be teaching on Thursday from 5:30pm to 8:30pm at Bethpage Federal Credit Union (BFCU), which is located at 899 S. Oyster Bay Rd, Bethpage, NY 11714.

Summary: This seminar is very similar to the course that Mr. Lieb taught to the Suffolk County Bar Association as a Faculty Member of the Suffolk Academy of Law. Beginning with basic definitions, this course quickly jumps into providing the requisite skills to draft a Hardship Letter, negotiate with a Loss Mitigation Department, navigate The Mortgage Forgiveness Debt Relief Act of 2007, and much more. This course will get you ready to make money in this difficult economy.

To register, go to www.liebatlaw.com

It appears the Hamptons are in high blast this year. Call them rentals as I read in many newspapers. Call them new purchases. The truth is that there are just many more people here than this time last year. My wife and I had some friends out for the weekend and we went out to Westhampton and everywhere was packed. That means there is much more discretionary income around because spending time at a second home community sure means you aren't working (unless you are like me and work here). So this tells me sales are going to start moving (there is a lot of inventory, but discretionary money helps it move), there will be more rentals, and here starts the renovations. I really hope we can start talking on this blog more about development and less about foreclosures because of this news.

On a foreclosure note, please remember that after a foreclosure auction you cannot stop the foreclosure, its already happened. My firm just had a consult on Friday where we were asked why we couldn't stop a foreclosure that was already bought at auction. The fact is that all you can do after an action is either have the foreclosure judgment vacated (undone), which is challenging, or buy the property back from the auction purchaser. So foreclosure defense is only about pre-sale. Post-sale we are talking about challenging jurisdiction or some other obscure tactical maneuver. To be sure, my firm offers these services too, but they are much riskier and usually cost more. The moral is don't wait to hire a lawyer until after the sale, its bad enough if you wait months after being served, but this is just too long. The best thing to do with any lawsuit is to speak to a lawyer asap. Hope this clears up a few things.

Now onto development, has anyone else noticed the abundance of 55+ communities popping up around the east end? I have been told in business to never open a candy store in a town unless there is already one, this lets you know that the town can support a candy store. So without doing market research it seems that the demand for 55+ communities on long island is high and the target location for 55+ individuals is slightly calmer, more beautiful, and further from the city. Interesting. During the next few weeks I am going to focus a little time to 55+ communities and some things that make them unique for any aspiring developers out there, opportunity is knocking.

Less than 3% of US metropolitan areas added construction jobs from 2009 to 2010 (US Bureau of Labor Statistics). In fact, Long Island had an 8% drop in contruction jobs alone (Long Island Business News). So what does this mean to us?

For starters, there are a lot of people not working. More so, of those who are working, they probably aren't getting paid that much. Yet, lets look at this from another angle. Construction workers are desperate for work. Maybe its time to get some renovations or construction done for property owners and developers. This is definetly a market where you can get a great discount on labor, which is quite a great opportunity.

Welcome HAFA to the Making Home Affordable family!!!

You were born on April 5, 2010 and you might be the best child yet. You have joined some great siblings, such as Home Affordable Modification Program; Home Affordable Refinance Program; Treasury FHA Home Affordable Modification program; and Second Lien Modification Program. Yet, you look at the world differently. You aren't so into preserving the status quo. You are open to change. Instead, of staying in the home, you will either sell it or give it back to the lender. Instead of trying to make a bad situation work, you will cut ties with the baggage and start again. Best thing is you have eliminated all possible liability for a deficiency when a house is sold for less than its loan. Not only do you forgive such a deficiency, but you give financial incentives to those who love to play by your rules. Heck, you have changed the rules by making short sale approval be proactive rather than retroactive. So smart. I can't wait to watch you grow and change an industry. You will reinvent the short sale.

We will be hosting a CE Class on Tuesday 4/13/10 from 5:30PM to 8:30PM at 376A Main Street, Center Moriches, NY. Seating is still available. Go to www.liebatlaw.com to register today!


Instructor(s): Andrew M. Lieb, Esq., MPH; Sean Lopez

Summary: Health, law, and safety. Mr. Lopez brings his hands-on experience as a professional mold remediator, while Mr. Lieb offers both his background as an Adjunct Health Professor at Nassau Community College and his legal expertise as we delve into this complex field from 3 angles. You will be introduced to spores like you have never seen them before, as a profit center for transactions, leasing, and property management. You will also learn to minimize your own exposure to liability.