mitchg

We are seeing a modest increase in mortgage delinquencies in our practice, consistent with nationwide trends.  This is particularly true with variable rate home equity loans given the increase in interest rates these last few years.  If the increase in interest rates,...

Unfortunately, we are seeing more real estate divorce cases than ever before as non-married couples buy a home together, then split up.  If they were married, this would be part of a divorce settlement.  These are called "partition" actions.   A partition action is a...

Virtually all residential promissory notes (and the majority of commercial promissory notes) permit prepayment, in whole or in part, without a prepayment penalty.  If you make a principal prepayment, your regular monthly payment does not decrease, but the prepayments...

Please save copies of your closing documents related to a sale or purchase.  There may be subsequent title or survey issues that arise years later, and we find out that the closing agent is out of business.  The copies you saved can be very helpful and time saving. ...

Because of delays in processing even cashier's checks, and fraud, all closing agents require the buyer's closing funds be sent via a wire to the closing agent's disbursing account.  There are scammers who intercept the wiring instructions and send an e mail to the...

I currently represent a Seller in a commercial real estate transaction.   The sales price is $1,500,000.00.  The standard commercial contract and custom provides that Seller pays the costs associated with the documentary stamps on the deed, $10,500.00, and the title...

A closing should go smoothly, like a duck swimming on pond.  That is certainly our goal for you.  However, underneath the surface there are a lot of moving parts that we coordinate.  Reviewing title, coordinating with the lender, preparing the closing documents, and...

We work with many commercial lenders at my office.  Not all lenders have an "appetite" for the specific collateral type and loan structure that you may want.  For example, some lenders will loan to restaurants, gas stations, hotels, and others will not; some lenders...

My general advice to renters behind on the rent or owners behind on the mortgage is to reach out to the landlord or mortgage company.  This demonstrates good faith on your part and hopefully a mutually acceptable path forward.  The landlords and lenders I know...

If you want to loan money to someone (even a family member) secured by a lien or mortgage on the borrower's home, please consult with an attorney to properly structure the transaction.  The Dodd Frank Act of 2010 severely limits these transactions and imposes severe...