FOLLAND & ASSOCIATES » miami real estate

Florida Reverse Mortgage Counseling Clarification

Christian N. Folland, Esq. — Thu, 09 Apr 2009 16:04:32 +0000

Reverse mortgages are becoming more and more popular and the public and also attorneys and mortgage brokers are learning more about the general reverse mortgage process, here in Florida and the rest of the country. A Florida reverse mortgage is typically part of the program called Home Equity Conversion Mortgage, or “HECM.” The below letter clarifies some of the issues with Florida Reverse Mortgage Counseling sessions, which are a required element in the Florida reverse mortgage process:

Florida Reverse Mortgage Letter

http://www.southptc.com/real-estate-attorney-miami.html

http://www.southptc.com/florida-home-refinance-mortgage.html

Florida Developer Real Estate Contract Valid With Acts of God Provision

Christian N. Folland, Esq. — Tue, 07 Apr 2009 15:17:31 +0000

Florida real estate contract law. In the following recent case, Mailloux v. Briella Townhomes, LLC, 4D08-430 34 Fla. L. Weekly D 269 (Fla. 4th DCA 2009), purchasers signed a contract to buy a Florida condominium unit and later sought to terminate the contract, claiming the developer failed to comply with the Interstate Land Sales Full Disclosure Act (“ILSA”) in that the contract did not unconditionally obligate the developer to complete construction within two years. The contract allowed delays due to acts of God, among other things. The Court held that acts of God are recognized defenses to non-performance of a Florida real estate contract and did not render the developer’s obligation to complete construction within two years illusory.

http://www.southptc.com/florida-real-estate-contract.html
http://www.southptc.com/real-estate-attorney-miami.html

Miami Real Estate Foreclosure Rate Decreasing

Christian N. Folland, Esq. — Tue, 31 Mar 2009 03:09:06 +0000

Real Estate Foreclosure filings in Miami-Dade, Broward and Palm Beach counties increased less than 1 percent last month over February 2008, according to the South Florida Business Journal, citing other sources. Despite the small increase, housing inventories are declining, gradually bringing the market closer the the bottom.

http://www.southptc.com/foreclosure-attorney-miami-florida.html

Florida Real Estate Sales Likely to Slow in line with Population Growth

Christian N. Folland, Esq. — Tue, 24 Mar 2009 19:57:24 +0000

The days of 1000+ daily net in-migration of new residents to Florida, as experienced early in the decade is down by 90%, as reported by the Florida Association of Realtors in March, 2009. This will clearly have an effect on the real estate and housing market even with current low prices.

http://www.southptc.com/miami-beach-real-estate.html