Paddy Deighan Real Estate Blog
Paddy Deighan, creative solutions for complex tax situations. Tax liens, tax levies, offer in compromise, tax debt settlement, tax debt negotiation
ARCHIVED BLOG POSTS
2011
There has been much debate regarding MERS (Mortgage Electronic Registration Systems). Recently a court in New York determined that MERS did not have the right to bundle, buy and sell mortgages nor to foreclose on mortgages. This ruling is extremely controversial not only because the judge, Rober...
02/27/2011
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When your property taxes are assessed, the tax assessor estimates your property’s market value based on comps, depreciation/appreciation and income generated by the property (when relevant). Next, the assessor will factor in any limitations that could impact how much of your property’s value can...
02/27/2011
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I have attempted to write a blog about this for a long time....for one thing, it is a long and difficult subject. It is also frequently misinterpreted and misunderstood. The MFDRA of 2007 was signed into law by President Bush (for whatever reason many seem to want to give credit to Obama for th...
02/23/2011
Finally, the Federal government is asking itself whether it is helping the industry or hurting it. Yesterday the House of Representatives held a hearing to “examine private sector involvement in the housing market in order to determine if the high amount of government participation is a hindran...
02/17/2011
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This frequently asked question is becoming a common question asked of me. The answer can be a bit complicated and it partially depends upon whether the bank is state or federally chartered. However there are four ways in which banks are accountable to its customers or regulatory bodies. The litt...
02/15/2011
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I have become a bit of an expert on the laws of the Fair Debt and Collection Practices Act and the Fair Credit Reporting Act. They are both areas of law that are largely governed by case law and not the statutes themselves (especially since the statutes are not particulalry detailed). One of the...
02/06/2011
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One of the surprising things to me is that it is only now becoming apparent to the outside world that the lenders that are foreclosing on a loan are not the "owner" of the loan. Most loans are sold with in two years of inception and this seems to have been forgotten. What is also forgotten is tha...
02/03/2011
There is much talk about the fact that the apparent lender in a short sale, loan modification, Deed in Lieu, etc is not the "owner" of the debt. This is true....a majority of loans are sold within two years of initiation. In this regard, the original lender becomes merely a servicing agent (typic...
02/03/2011
Deficiency Judgments are an area of law, as they apply to real estate, that are frequently misunderstood and mis-stated. There are business cycles that help determine whether lenders will seek a deficiency and their are tax considerations as well. The "investor" (lenders should call them who th...
02/03/2011
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I recently read a report that state officials were touting that the foreclosure rate is dropping and they were really beaming and telling all who would listen that the markets have turned around in Florida. Their statistics are flawed. There were marginally fewer foreclosures filed in 2010 as opp...
02/02/2011
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Paddy Deighan MBA JD PhD
Paddy Deighan J.D. Ph.D
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Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
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