New Protections from Lenders for Buyers, Home Owners and Sellers

CONSUMER-PROTECTION-LAW
Because of new rules just published by the Consumer Financial Protection Bureau (“CFPB”), homeowners, after years of abuse from their lenders’ mortgage servicing companies,  will now find they’re not being steamrolled into penury. The new rules deliver a black eye to the well heeled mortgage industry and deal with 9 nine major topics: periodic billing statements, interest-rate adjustment

The 3.8% Real Estate Tax Myth

According to Greek mythology, Heracles' 2nd task was to destroy the Hydra by cutting off its multiple heads, even though as soon as one head was cut off it was replaced by two more. Would even Heracles have been able to destroy the 3.8% tax myth created by opponents of ObamaCare? It seems as soon

What is A Strategic Bankruptcy? Can I Use It To Prevent The Foreclosure Sale Of My House?

Facing Foreclosure.  Will Filing Bankruptcy Stop the Foreclosure Process? I recently represented 2 sellers in Spenser and Nelson counties in Kentucky whose houses were in the $500,000 range. Both houses were severely "under water", and both were forced to do a short sale. Both used the process of bankruptcy strategically: firstly to stop the foreclosure

Fire Your Land Lord – New Down Payment Money Available For Buyers!

Hey-Landlord
NEW MONEY AVAILABLE FOR DOWN PAYMENT ASSISTANCE As we reported in an earlier blog, Kentucky Housing Corporation (KHC) received $3,000,000 from the National Mortgage Foreclosure Settlement Fund to offer a new mortgage program for down payment and closing cost assistance (DAP). This program is only available untiul these funds are gone. The terms being offered

Louisville Market Shrinking – Good News For Sellers – Not Yet Too Late For Buyers

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Past Market Trend.  Back in April I wrote that there were 3 data pieces which, read together, indicate strongly that as of April 9, 2012, the Louisville housing market is improving for sellers: 1.     The median list price is trending strongly upward 2.     The asking price per square foot is trending strongly upward 3.     The average

“Non Conforming Square Feet” – What does That Mean? Why Should I care?

Measure Square Feet
Q: What does ”non conforming square feet” in a real estate description mean? A: The Greater Louisville Association of Realtors, and many other associations throughout the US, use the American National Standards Institute (ANSI) rules to determine sq ft. Until we adopted that standard, there were many ”customary” rules but none definite. Now we have

Some Buyer and Borrower Issues at a Kentucky Closing: Title, Insurance, Smoke Detector

The following is a brief summary of some of the issues buyers and borrowers in Kentucky should be aware of and some timing recommendations – there may be some variations, depending on your closing agent and lender.   1. HOMEOWNERS INSURANCE.  (a)  You must bring to closing your homeowner's fire and extended coverage insurance policy

Short Sale of Multi-family in Louisville Kentucky. NAR Interviews Neil Blumberg

Satisfying 8 Parties to a Multi-family Short Sale in Louisville Kentucky. This material formed the basis for an interview conducted by the National Association of Realtors with Neil Blumberg, broker/owner of Metro1 Realty, and an edited version was published on-line in the NAR’s “Realtor”® magazine in its monthly column, ”How I sold It”. Location: Louisville,