For any of you relocating from outside of NJ, you might be surprised by some of the real estate laws in NJ. Specifically, in New Jersey, after a “proposal” is accepted by the buyer and seller, the property moves into Attorney Review status. During this period of time, both the buyer and the seller can exit the deal with no harm to either. While in Attorney review, the attorneys representing the respective buyer and seller will ensure that all terms are clearly understood and acceptable to both parties.

Full story here from Pam Martens via CounterPunch.org. “A federal agency tasked with expanding the American dream of home ownership and affordable housing free from discrimination to people of modest means has been quietly moving a chunk of that role to Wall Street since 2002.  In a stealth partial privatization, the U.S. Department of Housing and Urban Development (HUD) farmed out its mandate of working with single family homeowners in trouble on their mortgages to the industry most responsible for separating people from their savings and creating an unprecedented wealth gap that renders millions unable to pay those mortgages.

From my experiences as a Realtor and even before being a Realtor, I have found that open lines of communication during a tense moment, disagreement, or conflict is the best way to diffuse a difficult situation.  This is why we have so many lawyers.  When two parties have a disagreement and fail to communicate, each side will inevitably begin to assume the worst case scenario and take preparations and actions for that scenario.  As a result, tensions begin to rise up and a somewhat challenging situation becomes much more difficult to handle and resolve.

Breaking News: 10/1/09– The FHA Has Delayed Implementation Of New Rules Until November 2, 2009 To Coincide With Expiration of First Time Home Buyer $8,000 Tax Credit Under revised guidelines which were to be effective October 1, 2009 but now delayed until November 2, 2009, the Federal Housing Administration (FHA) is implementing a new stricter approval process for condominiums to be eligible for FHA financing.

Have you ever thought about getting a law-related vanity license plate for your car? If you have, you’re not alone, there apparently are a lot of lawyer vanity plates out there. We haven’t seen them all, but we have seen the handy Department of Motor Vehicles Web site that tells you which personalized license plates have been taken. It’s https://www.dmv.virginia.gov/dmvnet/plate_purchase/select_plate.asp . The list of tags that currently are taken by someone here in the commonwealth: 1. The basics.

(Great Neck, N.Y.)- Jerome A. Wisselman has been named by New York Super Lawyers magazine as one of the top attorneys in New York for 2009.  Only five percent of the lawyers in the state are named by Super Lawyers. Jerome “Jerry” Wisselman founded Wisselman, Harounian & Associates, P.C. in 1976. In addition to Jerry’s own background in accounting and tax law, he built a community practice composed of multi-disciplined attorneys highly experienced in the areas of family law, real estate law, and business and estate planning.

by Larry R. Rothenberg The Statutory Scheme for Foreclosures in Ohio The statutory scheme for mortgage foreclosures in Ohio calls for a judicial action in which the mortgage holder files a complaint seeking an order for the property to be sold at a judicial sale, typically by the county sheriff.  Once the court grants the judgment, the clerk of courts issues an order of sale to the sheriff, who causes the property to be appraised and scheduled for sale with a minimum bid not less than two-thirds of the appraised value.  The property owner has a statutory right to redeem the property until the court enters an order confirming the sale.

Before each showing of your home to potential buyers, it is important to make a good first impression. Be sure your front entry has a sparkling door knocker and door knobs, and that front door and porch are clean and free of clutter. Once inside your home should smell inviting so bake the quick and easy break and bake cookies or brownies, or put a drop of vanilla on the top of a light bulb for a welcome aroma. You can make the home seem more inviting by installing higher wattage light bulbs and opening all the window treatments to let the light flood your home.