LIEB BLOG

Legal Analysts

Wednesday, January 13, 2016

Why Lieb School's Online Classes Are The Best On The Market

Andrew Lieb , Divorce Deals
Why Lieb School's Online Classes Are The Best On The Market
If you are looking for the best education available, we suggest you try our first online class which is Divorce Deals. Additional classes will be added throughout the year. We are in the process of getting all of our online courses licensed. The next course that will be available within the month is The Fair Housing Act ONLINE which will satisfy the DOS requirement of Fair Housing & / or Discrimination.
We partnered with the leading online technology platform to deliver the best in-class user experience that includes audio, video and interactivity. The material is provided by Andrew Lieb, Esq. who combines the latest case law with practice management. Not only is our delivery method entertaining, but you will walk away with the greatest understanding of each topic. Our goal is to help you make money in practicing real estate while staying compliant with your license law.

Here is a 30% off coupon: LIEBSCHOOL30 (expires 2/1/16)

We hope that you will give our education a chance to benefit your career!

Divorce Deals 4.5 Credits - Sign Up Here




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Friday, January 08, 2016

NYREJ - Q & A with Lieb, managing attorney at Lieb at Law

Andrew Lieb , Lieb at Law UPDATES
NYREJ - Q & A with Lieb, managing attorney at Lieb at Law
The New York Real Estate Journal recently interviewed Andrew Lieb, Esq on technology and legislative trends.

Read the full article here.
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Direct Negotiations in Co-Brokered Flat Fee MLS Real Estate Impermissible by Regulation

mls , Real Estate Brokers and Salesperson
Direct Negotiations in Co-Brokered Flat Fee MLS Real Estate Impermissible by Regulation
Flat fee MLS is a trend where a homeowner can pay a small fee (typically around $300), to list their For Sale By Owner home (referred to herein as “FSBO”), on the Multiple Listing Service (referred to herein as “MLS”). As a result, the homeowner can enjoy the best of both worlds in avoiding an approximate 4 to 6 percent commission, while nonetheless exposing their property to all of the clients and customers of licensed real estate brokers/brokerage firms throughout the region. However, the FSBO homeowner cannot directly place their home on the MLS on Long Island, but instead must pay a flat fee MLS vendor, who is also a real estate broker/brokerage firm (referred to herein as “MLS vendor”) for the privilege of using the MLS because only licensees of the service can list on the MLS.

 Read the full article, written by Andrew Lieb, Esq. published in The Suffolk Lawyer. 
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Wednesday, January 06, 2016

Making Home Affordable - New Handbook Available - Version 5

Making Home Affordable , Making Home Affordable Handbook
Making Home Affordable - New Handbook Available - Version 5
To access the new Handbook for MHA, inclusive of HAMP and HAFA, click here. While reviewing the Handbook you should be aware of the case of US Bank v. Sarmiento wherein the Court held that the statutory good faith standard for a CPLR 3408 Foreclosure Settlement Conference is whether the "totality of the circumstances demonstrates that the party's conduct did not constitute a meaningful effort at reaching a resolution", including compliance with the Handbook. To review the case, click here.

This Handbook is the rules for banks / servicers to modify mortgages, so pay careful attention to detail and make sure that they comply.
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Wednesday, December 30, 2015

Income Tax Relief after a Short Sale for 2015 & 2016

deed-in-lieu , Income Tax
Income Tax Relief after a Short Sale for 2015 & 2016
The President has extended the Mortgage Forgiveness Debt Relief Act through the end of 2016 by signing Congress’ Spending Bill into law. As a result, the amount of money from a mortgage loan that is forgiven incident to a short sale, foreclosure or deed-in-lieu of foreclosure will not be taxable as income.

In the last week of 2014, the extension was passed and then applied to all transactions that occurred in 2014, retroactively. Homeowners closed transactions assuming that they were paying income tax on the forgiven debt. As a result, homeowners elected not to pursue a short sale or deed-in-lieu when it turned out to be their best strategic option.

Now that the law proactively extends throughout 2016, homeowners in financial distress can list their homes for short sale, or work out a deed-in-lieu with their lender, without the fear of being hit with a severe income tax bill.

Another important provision of the Spending Bill, beyond the Mortgage Forgiveness Debt Relief Act extension, concerns mortgage insurance premiums, which are required for mortgage loans that exceed 80% of the purchase price of a home (and is required to be paid until the loan balance goes below 80% of the purchase price). Pursuant to the new law, premium payments can now be deducted from borrower’s income tax, in the same manner as mortgage interest, through 2016. This will continue to encourage homeowners who may not have the funds for a 20% deposit to still be able to purchase a home. 
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