This website is intended to provide general information, but it is not intended to give specific legal advice. The user of this site understands and agrees there is no attorney-client relationship between Harry Borders and the user as a result of this site. The user further understands he/she is encouraged to seek out independent legal counsel and cannot rely on the information provided on this site. All transactions are unique and should be reviewed directly between the client and their independent counsel.

Short Sale Training – 4 watch now video replays of a saturday seminar on short sales with attorney Harry Borders. Get the insider secrets on short sales, the do’s and don’ts and how to make sure your short sale offers get accepted and do not slow down or get rejected.

Short Sale Training Videos

4 hour Saturday Workshop

Watch NOW Video Replays!

includes WorkBook Study Guide Handout!

Latest Survey on the Impact of the RRP Rule on Businesses
 
On February 1st, 2012, Professional Remodeler Magazine released some information they collected from a December 2011 survey they did asking remodelers about how the EPA’s Renovation, Repair and Painting Rule (RRP) has impacted their businesses.   No surprise, the survey indicated negative impact.  64 percent reported they had lost business as a result of the rule.  What seems to consistently rise to the top is the impact of illegal competition from businesses that ignore the rule and its required work practices.
 
According to the survey summary posted by the magazine’s Editor in Chief, Jonathan Sweet, 46 % of respondents said less than 10 percent of remodelers in their local market are following the regulations and only 8 percent think more than half of their local competitors are in compliance.
 
The survey also asked about costs related to RRP.  The EPA says additional costs are $35 to $376, depending on the size and the nature of the project.   According to the survey results, 37 percent said the rule added more than $1000 to the cost of their average project and a full 81 percent said it adds more than $400.  So much for the accuracy of EPA’s estimates.
 
Again, the survey proved what many have already determined in the past regarding consumer awareness about the rule: very few know anything about it.   According to survey respondents,
65% of remodelers estimated that less than 10 percent of their potential clients are aware of the rule and only 5 percent think more than half of homeowners know about it.   This is despite what EPA refers to as extensive consumer outreach.
 
One interesting observation I made about the survey results is that contractors in the northeast tend to be much more aware of the rule and much more in compliance with the rule than the rest of the country.   For example, according to the survey results, 83 percent of remodelers in the Northeast were the most likely to be certified, compared to 75 percent in the West, 71 percent in the Midwest and 66 percent in the South.   Also, 80 percent of remodelers in the Northeast described themselves as very familiar with the rule, compared to 70 percent in the Midwest and 61 percent in both the South and West. 
 
In summary, the survey didn’t seem to provide any new information.  It did however demonstrate that EPA has made very little progress getting the regulated community into compliance and with regards to educating consumers about the rule and the reasons for it.  In my opinion, our government and our political leaders have created a false sense of security for our citizens by creating a rule they say will protect children from the dangers of lead poisoning.  
 
It is sad to think that the “experts” appointed to protect our children designed and created this rule knowing that they could not afford to enforce it.  The rule does however provide them with additional job security, something legitimate contractors can’t say it has done for them.
 
ShawnMcCadden.com

New HUD regulations that may affect leasing policies will go into effect in 30 days.

HUD announced that the new regulations are intended to ensure that HUD’s core housing programs are open to all eligible persons, regardless of sexual orientation or gender identity.

HUD Secretary’s previewed the announcement at the 24th National Conference on Lesbian, Gay, Bisexual and Transgender (LGBT) Equality – Creating Change. 

The final rule makes the following provisions:

Requires owners and operators of HUD-assisted housing, or housing whose financing is insured by HUD, to make housing available without regard to the Members Click Here For Full Access

The Home Affordable Refinance Program (HARP)
 
The Home Affordable Refinance Program was established in 2009 for Fannie Mae and Freddie Mac loans.  It allows for home owners to refinance their homes, even if the value of the home has dropped.
 
Homeowners with a loan owned by Freddie Mac or Fannie Mae have the opportunity to refinance with any participating lender as long as the resulting loan is less than 125% of the current property’s value.
 
The Home Affordable Refinance Program (HARP) has been extended until December 31, 2013 and allows homeowners to refinance into low mortgage interest rates even if the property has decreased in value.
The following criteria must be met to qualify for the Home Affordable Refinance Program:
 
You must live in the home being refinanced.
 
A HARP refinance only applies to Fannie Mae or Freddie Mac mortgages.
 
The homeowner must be able to afford the new lower payment.
 
The current mortgage must be up to date with no late payments in the past twelve months.
 
Payments on the new loan must be more affordable or more stable than on the existing loan.
 
The new mortgage balance may not exceed 125% of your home’s current value.
 
The maximum Loan to Value (LTV) cap has been removed on home owners looking to refinance in to a fixed rate mortgage.
 
However for homeowners looking to refinance in to an adjustable rate mortgage the maximum LTV is set at 105%.
 
The popularity of the HARP mortgage program has steadily grown since 2009. The three months ending in February 2011 saw record volume of 145,000 new HARP loans.
 
 
A participating lender can determine if your loan is owned by Fannie Mae or Freddie Mac and can further evaluate your eligibility. To contact one, fill out the convenient 4 step form to the right.

Landlords and Tenants Join Forces To Fight City Hall and WIN!

Red Wing, Minn.—Today the Minnesota Supreme Court handed down an important victory for Red Wing property owners and renters and for citizens across the state of Minnesota. The court allowed a property rights case to go forward that had been tied up by procedural hurdles for more than five years.

The case challenges Red Wing’s rental inspection program, under which the city can enter and inspect people’s homes without any evidence that a code violation has taken place. The decision, which seriously examined the facts of the case and the practical impact of the law on plaintiffs’ rights, is a model of judicial engagement.

Nine landlords and two tenants from Red Wing, Minn.—who are represented by the Members Click Here For Full Access

Cooperating broker’s commission lawsuit advances

A New York appellate court has considered whether a commission dispute should be sent to arbitration or to a jury for resolution.

Barbara Faraone (“Owner”) owned a parcel of land that she decided to sell in late 2003. Allegedly, the Owner entered into an oral listing agreement with real estate brokerage Land Man Realty, Inc. (“Land Man”), allowing Land Man to offer the property for a limited period of time with the understanding that she would eventually list the property with a friend of hers at Weichert REALTORS® Northeast Group (“Weichert”). During that limited time, Land Man introduced Capital District Enterprises, LLC (“Buyer”) to the property, but the Buyer did not make an offer.

Read More (Realtor.org login required)

from KAR
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