Monday, March 30, 2015

PROPOSALS BY CONGRESS RE: TAX DEDUCTIONS AND CREDITS

The Republican budget proposal in Congress would eliminate the tax deduction for spousal maintenance, among other deductions, credits, etc.

See http://waysandmeans.house.gov/uploadedfiles/ways_and_means_section_by_section_summary_final_022614.pdf

Friday, March 27, 2015

ON AFFORDABLE HOUSING

As Newsday's series on Zombie Homes turns to illegal housing, if one was "reading the signs", it would appear that the underlying problem is affordable housing.

In that respect, Long Island and New York City is in a similar situation. See: http://peoplesworld.org/new-york-city-facing-the-crisis-of-affordable-housing/

Wednesday, March 25, 2015

INTERESTING REFERENCES TO LANDLORD/TENANT PRACTICES IN FORECLOSURES

Today's Newsday series on Zombie Homes raises some interesting references to landlord/tenant practices in NY. According to Newsday:

1. The holdover procedure (squatters after 30 days are deemed tenants) can be time consuming - months for a judgment of eviction and then months for sheriff to execute warrant.

2. Some banks offer "cash for keys" - to pay tenant/squatter/former homeowner, as the case may be, a fee to vacate by certain date.

Tuesday, March 24, 2015

ZOMBIE HOMES

Kudos to Newsday for their week long series on the "Zombie Homes" situation.

A Buffalo University Law School student wrote an interesting paper in 2013 on this issue:

Unfinished Foreclosures: When Banks Walk Away From Homes

Monday, March 23, 2015

Friday, March 20, 2015

OLD OFFERING PLANS

Here is the situation: client is selling/buying an "old" co-op and no one has a copy of the original offering plan. The attorney general's office has no record for the co-op in their electronic database or file.

This site may help: http://offeringplanet.com/