While well-intended and often beneficial to property owners, PACE loans can result in a number of unintended consequences when a property is sold.
Should you pay a closing fee when you are not paying for title insurance? Creative ways of putting food on the table know few bounds in the real estate business. Reference, for instance, the following provision from the General Conditions of the FAR-BAR contract forms: (ii) CLOSING DOCUMENTS: Seller shall…
Borrowers of federally backed loans owned by Fannie Mae and Freddie Mac will not have to repay missed payments in a lump sum once their forbearance periods end. Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), made this clear in a statement aimed to correct consumer confusion after reports revealed loan servicers…
In response to requests to provide guidance on the impact of mortgage loan forbearance programs on the tax treatment of securitization vehicles, such as real estate mortgage investment conduits (“REMICs”) and investment trusts, the IRS issued Revenue Procedure 2020-26. The IRS establishes that forbearance programs offered as COVID-19 relief will…
The Florida Real Estate Commission passed an emergency rule that went into effect April 9, 2020, that allows for all agent education to be provided online for the next 90 days. In the short video below, partner Thomas B. Luzier talks with Patti Ketcham, a broker/instructor based in Tallahassee and the current chair…