massachusetts real estate litigation

Massachusetts Real Estate Litigation: What You Can Expect Going To Trial, Part 2

by Rich Vetstein on December 20, 2011 · 1 comment

in Adverse Possession,Condominium Law,Landlord Tenant Law,Massachusetts Real Estate Law,Permitting/Zoning,Real Estate Litigation

Part 2 of a two part series. For part 1 on filing the Complaint, Venue and Discovery click here.

Expert Testimony

We left off in our last post at the discovery state of litigation. We covered fact discovery of witnesses, but we didn’t address an important component of most real estate litigation cases: experts.

Expert testimony is required when you need to explain to a judge or jury a technical area of the case which is outside the general knowledge of a “regular” person. Experts in a Massachusetts real estate lawsuit can range from appraisers, construction experts, land surveyors, title attorneys, land use planners, civil and wetlands engineers, traffic planners, and handwriting experts. Needless to say, experts are expensive, charging several hundred dollars per hour on an engagement. But they are vitally important. In Massachusetts state court litigation, parties must disclose before trial an expert’s qualifications and a general summary of what the expert will testify to at trial, including his methodology. For litigators like myself, preparing and cross-examining experts is often quite an intellectual challenge and one of the “fun” parts of a trial.

Dispositive Motions

Often in real estate litigation, the case can be decided by way of a “dispositive motion” by the judge prior to trial. In this procedure, called a motion to dismiss or summary judgment, the important facts of the case are undisputed, and the judge can decide the case based on the law. The lawyers will prepare detailed motions, affidavits, and legal briefs, and there will usually be a lengthy hearing before the judge. This procedure will also avoid the need for a trial, saving litigants a much expense. Judges, however, can take a long time deciding a dispositive motion. Months to even a full year is not unheard of.

Pretrial Conference

If the facts of the case are hotly disputed, the case will be set down for a trial date at the pre-trial conference. At the pre-trial conference, the attorneys meet with the judge to discuss readiness for trial, witness lists, expert testimony, unusual legal or evidentiary issues, and the status of settlement talks, if any.

Obtaining a firm trial day these days is pretty much a moving target. It really depends on the county. Middlesex Superior is pretty good at giving firm trial dates, while Norfolk County is not, in my experience.  The Land Court gives out firm trial dates, but has no juries. Prepare to wait several months after the pre-trial conference to get a trial date, which will probably be rescheduled at least once. Massachusetts courts have been beset with budget cuts which has negatively impacted the speed of the courts’ docket. Justice moves slowly in the Commonwealth.

Settlement/Mediation

Given the huge costs and delays of litigation, this is a good place to talk about settlement and mediation. I always explore settlement possibilities of a case early on. If a case can be settled early, both litigants can avoid significant legal expenses and can usually craft a better resolution than a judge or jury can. But clients often come to me very upset and emotional about the situation, so talking settlement may be perceived as “caving in” to the other side. It is not, and clients usually see the light once they get a bill or two from my office.

Mediation is a non-binding settlement process where a neutral mediator (usually a retired judge or experienced attorney) will mediate the dispute between the parties in a structured manner. Both sides get to tell their sides of the story, then the mediator will usually separate the parties into different rooms, shuttling back and forth attempting to broker the peace. There is a cathartic and healing process that often occurs during mediation where parties have a chance to express their anger, resentment, and feelings which can greatly assist the settlement process. Also, the settlement itself often can be much more flexible and creative than what a judge or jury can render after a trial. If mediation does not work out, the case goes back on the trial list. There is no obligation to settle.

Trial

Less than 1% of all civil cases in Massachusetts get to the end of a trial. If your case is in this 1%, prepare yourself for an experience. Jury trials are not for the faint of heart. They are incredibly labor intensive, with the attorneys spending hours upon hours preparing for trial, and burning the midnight oil during the trial itself. The more lawyer time required, the higher the legal bill.

If you are selecting a Massachusetts litigation or trial attorney, ask him or her how many civil jury trials they have done. I’m not talking about former district attorneys who have done a bunch of criminal trials. Complex, civil trials are a totally different animal and call for a lawyer who has done a significant amount of civil trial work. Be wary of any lawyer who claims to have won every trial he has done. There is a saying that a trial lawyer who has never lost a case hasn’t tried many in the first place. Don’t be afraid of small law firm attorneys. In my experience, they are much better trying cases than big firm lawyers who spent the greater part of their careers doing document review and depositions.

Appeals

In the American judicial system, litigants can pretty much appeal anything with impunity. Filing an appeal will usually stop a final judgment from issuing, but in some cases the winning party can ask the losing party to post a bond.

Appeals requires a special skill set, great research, and writing by an experienced Massachusetts appellate attorney. The appeals process can take at least a year or even more to complete. The trial record must be assembled by the trial court. If there was a trial, transcripts need to be ordered from the court reporters or digital tapes and then transcribed. This can take quite a bit of time. Then, the attorneys file lengthy appellate briefs, after which the case is scheduled for oral argument before a panel of appellate justices. After oral argument is held, the court will issue its written opinion, which will either uphold the lower court’s decision, reverse it, or remand it back for a new trial or other action. Appellate opinions are released to the general public and become what is known as the common law of Massachusetts, to be cited as precedent in other cases.

Well, that’s it for now. Remember, litigation should be a last resort, once all attempts at an amicable, reasonable resolution fail.

____________________________________________________________

Richard D. Vetstein, Esq. is an experienced Massachusetts Real Estate Litigation Attorney who has litigated hundreds of cases in the Massachusetts Land and Superior Courts. For further information you can contact him at info@vetsteinlawgroup.com.





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Massachusetts Real Estate Litigation: What You Can Expect Going To Court, Part 1

by Rich Vetstein on December 17, 2011 · 4 comments

in Condominium Law,Liens,Massachusetts Real Estate Law,Permitting/Zoning,Real Estate Litigation,Trespass,Zoning

Post image for Massachusetts Real Estate Litigation: What You Can Expect Going To Court, Part 1

For most folks, litigation and courtrooms are as foreign as Belgium. When a new clients comes to me with a potential litigation matter, I spend most of our first consultation discussing the process of litigation and how it works. Then inevitably we have to talk about the cost and expense, which for most lawsuits is a lot more than people expect. In this post, I wanted to provide you with a summary of what happens when you decide to file a Massachusetts real estate litigation and lawsuit, or if you have to defense yourself against one.

First Steps: Filing Or Answering The Complaint & Selecting A “Venue”

The first step in every Massachusetts lawsuit is the filing of the Complaint, along with a filing fee. The Complaint sets forth the factual allegations of the lawsuit, along with the formal legal claims such as breach of contract, zoning appeal, adverse possession or fraud.

Most real estate litigation cases where the damages exceed $25,000 are filed in either the Superior Court or the Land Court. (For smaller matters under $25,000 you can file in the local District Court; small claims cases are for $7,500 or less).

The Land Court is a specialized court with expertise in real estate disputes. I’ve written about the Land Court here. The Superior Court is the “jack of all trades” trial court and hears just about every type of civil and criminal dispute at the trial level. Depending on the facts of the case, there are strategic advantages to filing in either Superior or Land Court. Your attorney will best explain those decisions.

After the complaint is filed, a Summons is issued which must be formally served by constable or sheriff on the “defendants” in the case. The attorney will arrange for service of the summons and complaint to be made and a sheriff will show up at the defendant’s home or business with the legal papers. Defendants have 20 days to “answer” the complaint. The Answer is a formal response to the Complaint, and you can also assert any “counterclaims” you may have against the plaintiff.

Pre-Judgment Remedies

Many real estate litigation cases involve asking the court for some type of relief or action during the initial stages of the lawsuit. This is called “pre-judgment relief.” In many real estate cases, a litigant will ask the court for a lis pendens on property, which is a formal notice of the claim recorded on title. In other cases, a litigant will ask for an injunction or restraining order stopping a landowner from building or taking other adverse action which would injure their property.

Asking a court for such pre-judgment relief requires filing motion papers, legal memoranda and often multiple court hearings where the lawyers will argue the issues before the judge. This will add another level of expense on the case, often quite a bit. I usually give clients a ballpark figure of $5,000 for taking a case through the pre-judgment relief stage–could be less, could be more, depending on the response from the other side.

Often cases can be won or lost at these early stages as a lis pendens can stifle a potential sale or an injunction can shut down a construction site, thereby forcing a favorable settlement. Thus, it is very important to have an experienced and savvy Massachusetts real estate litigation attorney work up the case properly and argue the case forcefully during a pre-judgment remedy proceeding. There are certain ways to increase your chances of success at this stage and even obtain relief without the other side even knowing you are going to court, called ex parte relief, if the situation warrants. (Ex parte in Latin means “from (by or for) one party.”)

Phase 2: Discovery

For cases on the normal track, once the answer is filed and all factual allegations and legal claims are raised in the case, it moves to the next stage: discovery. Discovery is the process where each side shares information about the case with each other. Litigation is not supposed to be a cat-and-mouse-hide-the-ball game.

This is a good time to discuss how long it takes to get to a trial in a Massachusetts lawsuit. With huge budget cuts in the courts, it is taking up to 2+ years for most civil cases to reach trial. Yes, you read that correctly. It can take even more time in some cases. I’ve had a case in Norfolk County (Dedham) ready for trial 3 different times, only to get bumped at the last minute, each time costing the client thousands of dollars in legal fees and months of delay. There is really nothing a litigant can do about these delays (save for settling the case out of court).

The discovery stage is the most labor intensive and expensive part of the case, with lawyers taking depositions of witnesses and filing and answering formal written questions, called interrogatories, and responding to requests for document production. There are often disputes and motions which have to be resolved in this stage. Depositions can easily cost $1,000 each, and discovery in a fairly involved case can run easily up to $10,000 + in legal fees.

For the next post, we will discuss Phase 3: Summary Judgment/Pre-Trial, Going To Trial, and Appeals (click here). Stay tuned!

________________________________________________________________

Richard D. Vetstein, Esq. is an experienced Massachusetts Real Estate Litigation Attorney who has litigated hundreds of cases in the Massachusetts Land and Superior Courts. For further information you can contact him at info@vetsteinlawgroup.com.

 





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Court Upholds Oral Handshake Deal In Land Swap

by Rich Vetstein on August 22, 2011 · 1 comment

in Commercial Real Estate,Condominium Law,Massachusetts Real Estate Law,Purchase and Sale Agreements,Real Estate Litigation

Post image for Court Upholds Oral Handshake Deal In Land Swap

Seller Couldn’t Sit Back & Watch Construction Project Unfold

Massachusetts appeals judges have been mighty busy this summer issuing real estate decisions. From the forced removal of condo buildings to toxic mold, to foreclosure eviction defense, it’s been no summer vacation in Massachusetts real estate law.

Handed down today is a case right from a first year law school property exam, Hurtubise v. McPherson, embedded below.

As most real estate professionals know, contracts for the sale of real estate must be in writing and signed by the party to be charged, i.e, the seller. This is a rule of law going back to English common law and is called the Statute of Frauds which can be found in the General Laws of Massachusetts, Chapter 259, Section 1. As with most black letter law, there are a few exceptions to the general rule, and this case is a textbook example of the “detrimental reliance” exception to the Statute of Frauds.

Hand-Shake Land Swap Agreement

Here are the facts of the case. Hurtubise and McPherson owned adjoining tracts of land in the town of Templeton. Hurtubise operated a storage business on his property. He wanted to build an additional storage shed along the border between his property and McPherson’s property. Hurtubise realized that he could not meet the setback requirements of the local zoning code unless he acquired land from McPherson. Hurtubise approached McPherson, explained his need, and proposed a land trade, offering to convey to McPherson a portion of the front of his (Hurtubise’s) property in exchange for the portion of McPherson’s land at which Hurtubise intended to erect the new storage shed. McPherson agreed to the proposal and the parties shook hands.

Hurtubise proceeded with his plans for construction of the new building. He obtained a building permit and began to excavate along the border of McPherson’s lot. During the seven to eight weeks of construction, Hurtubise saw McPherson at the site. McPherson never objected to the location of the new building. Hurtubise eventually constructed a 300 x 30-foot storage shed for $39,690.

After construction, McPherson objected and accused Hurtubise of taking more land than he initially had represented. McPherson informed Hurtubise that an exorbitant payment of $250,000 would resolve the dispute which Hurtubise refused to pay. McPherson then notified the town that Hurtubise’s new building encroached on his property. The town’s building commissioner revoked Hurtubise’s building permit and ordered him to cease occupancy of the storage shed. After McPherson threatened to demolish the building, Hurtubise brought suit to enforce the oral agreement.

Exception To Written Contract Rule

As mentioned above, to be enforceable, real estate contracts for the sale of property must be in writing and signed by the seller, at minimum. As Judge Mitchell Sikora wrote in the opinion, “however an equitable qualification puts some flexibility into the joints of the Statute.” An oral agreement for the sale of land can be valid if the party seeking enforcement, in reasonable reliance on the contract and on the continuing assent of the party against whom enforcement is sought, has so changed his position that injustice can be avoided only by specific enforcement. In non-legalese, this means that if you start a construction project and spend thousands of dollars upon the promise of a land deal, albeit not in writing, you may be able to enforce that promise.

Because Hurtubise just sat by idly and watched McPherson construct his shed at considerable cost without objection, the court ruled that he couldn’t then complain there wasn’t a written agreement, in an attempt to wriggle out of the land swap deal. The court then ordered Hurtubise to convey McPherson the land necessary to build the shed.

This case is one of the very few instances where a court has upheld an oral hand-shake real estate agreement. The take-away: make sure your real estate contracts are always in writing and signed!

_______________________________________________________

Richard D. Vetstein, Esq. is an experienced real estate litigation attorney who’s handled numerous real estate contract breach cases in Land Court and Superior Court. Please contact me if you are dealing with a Massachusetts real estate contract legal dispute.

Hurtubise v McPherson Case





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Newly Formed Company Liable For $1.2M In Back Rent Under Corporate Successor Liability Theory

by Rich Vetstein on September 14, 2009 · 1 comment

in Commercial Leasing,Landlord Tenant Law,Massachusetts Real Estate Law

Post image for Newly Formed Company Liable For $1.2M In Back Rent Under Corporate Successor Liability Theory

Apparently for the first time, a Massachusetts trial judge has used a newly decided corporate successor liability theory to hold a newly formed company responsible for the debts of its predecessor, yielding a $2 million judgment for back rent and interest. The plaintiff in the case, Renaissance Worldwide, had leased space to Sitara Networks, a voice-over-Internet (VOIP) company, in a Waltham building. Sitara arranged for a creditor to foreclose on its assets and then bought them back, reopening as a new entity, Converged Access. Converged claimed that it should not be responsible for the hundreds of thousands of dollars in back rent and interest owed by Sitara.

Superior Court Judge Bruce R. Henry said “not so fast,” and ruled that Sitara’s plan to reemerge as Converged Access was improperly designed to shed the company’s unsecured debt, scrubbing the books clean with the transaction. He ordered Converged Access to pay a whopping $1.2 million in back rent plus $800,000 in interest and attorneys’ fees. Judge Henry’s ruling is reportedly the first major decision relying on a year old Milliken decision from the Massachusetts highest court on corporate successor liability. The judge wrote:

“That plan causes me the same concerns as did the similar plan of the defendant in the Milliken case,” Henry wrote. “As the Supreme Judicial Court found in Milliken, ‘Notwithstanding our respect for the integrity of corporate structures, we are troubled by the notion that by merely changing its form, without significantly changing its substance, a single corporation can wholly shed its debts to unsecured creditors, continue its business operations with an eye toward returning to profitability, and have no further obligation to pay such creditors.’”

A Young Company Pursues VOIP Technology But Runs Into Trouble

Sitara, the young company was pursuing voice-over-Internet protocol technology – or VoIP – which essentially allows phone service to work over the Internet. In April 2002, Sitara stopped paying its rent and began talking to Renaissance, the landlord, about renegotiating the lease, but the two never reached a revised agreement. Sitara failed to pay the rent over the next 15 months, accumulating a $1.2 million debt. (Why the landlord let the rent accrue this much is beyond me).

Meanwhile, it owed Lighthouse Capital Partners, a secured creditor, $1.1 million. In 2004, Sitara began working with Argus Management Corp., a consulting firm that specializes in helping distressed companies. Argus tried to negotiate a reduced rent, but the two sides never agreed to terms. In April 2004, one of Sitara’s founders, Malik Khan, sent an e-mail to some colleagues discussing the rent negotiations with Renaissance and outlining several options, including selling the company to Lighthouse and buying the assets back. “We hand the keys to Lighthouse and then purchase the assets back from them,” he wrote. “We have spent time working this last option out with Argus, who have much more experience at this than we do. … Financially, this is a better deal for all of us but more complicated.” In a later e-mail to an investor, Khan spelled out the plan in greater detail: Lighthouse would take over the assets and a new company would buy them, getting “Sitara’s current business, assets, IP, brand names, trade marks and copyrights, with no debt on its balance sheet.” And he noted that, if done “expeditiously,” there would be “a seamless transition from employees, customers and the market, with minimal disruption to business.”

Not So Fast Says The Judge

After several years of litigation, the Judge ruled in a jury waived trial that the plan “engineered by Khan with assistance from Argus and the cooperation of Lighthouse was designed to permit Sitara to continue its business, albeit with a new name, and to shed its unsecured debt.” He ordered the defendants to pay $1.2 million in rent plus roughly $800,000 in interest, as well as attorneys’ fees, which have not yet been calculated.

Take Away

The take-away from this case is think twice before you engage in an end-game corporate foreclosure strategy under which a new related corporate entity is formed to “cleanse” the debts of the predecessor insolvent company. This applies not only in the real estate leasing context but for all types of corporate debt situations. With the economy still recovering, I would expect to see more of these “loan-to-own” successor liability cases as companies squeezed by the credit crunch look to get rid of debt while avoiding the longer, more expensive bankruptcy process. There is still much distressed corporate debt out there and otherwise sound companies that are victims of the credit crisis.

I’ve been waiting for an opportunity to write about commercial leasing and this new case which just came down provided a great opportunity. The case, Renaissance Worldwide Inc. v. Converged Access Inc., can be read here.





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Massachusetts Security Deposit Law: To Take A Security Deposit Or Not To Take One, That Is The Question.

by Rich Vetstein on August 5, 2009 · 16 comments

in Landlord Tenant Law,Massachusetts Real Estate Law,Rental Housing

Post image for Massachusetts Security Deposit Law: To Take A Security Deposit Or Not To Take One, That Is The Question.

My last post on this blog and on Boston.com on Massachusetts landlord-tenant law spawned many questions on the Massachusetts security deposit law.  So, I decided to go into more detail about the topic.

Massachusetts Security Deposits–An Overview

Last month’s rent and security deposits are one of the most heavily regulated aspects of Massachusetts landlord-tenant law and are fraught with pitfalls and penalties for the unwary, careless landlord. Any misstep, however innocent, under the complex Massachusetts last month’s rent and security deposit law can subject a landlord to far greater liability than the deposit, including penalties up to triple the amount of the deposit and payment of the tenant’s attorneys’ fees. This is why I advise landlords not to require security deposits. If a deposit is necessary, take a last month’s deposit, the requirements of which are less strict than security deposits. If landlords insist on taking a security deposit, they must follow the law to the letter.

Requirements For Holding A Security Deposit

The following steps must be followed when a landlord holds a security deposit:

  1. When the deposit is tendered, the landlord must give the tenant a written receipt which provides:
    • the amount of the deposit
    • the name of the landlord/agent
    • the date of receipt
    • the property address.
  2. Within 30 days of the money being deposited, the landlord must provide the tenant with a receipt identifying the bank where the deposit is held, the amount and account number.
  3. Within 10 days after the tenancy begins, the landlord must provide the tenant with a written “statement of condition” of the premises detailing its condition and any damage with a required disclosure statement;
  4. The tenant has an opportunity to note any other damage to the premises, and the landlord must agree or disagree with the final statement of condition and provide it to the tenant.
  5. The security deposit must be held in a separate interest bearing account in a Massachusetts  financial institution protected from the landlord’s creditors.
  6. The landlord must pay the tenant interest on the security deposit annually if held for more than one year.
  7. The security deposit may only be used to reimburse the landlord for unpaid rent, reasonable damage to the unit or unpaid tax increases if part of the lease. Security deposits cannot be used for general eviction costs or attorneys’ fees. Within 30 days of the tenant’s leaving, the landlord must return the deposit plus any unpaid interest or provide a sworn, itemized list of deductions for damage with estimates for the work. Only then can the landlord retain the security deposit.

What Do I Do If The Landlord Mishandles My Security Deposit?

First, talk with the landlord about the situation and respectfully remind him or her of the law’s requirements. Many landlords will balk at the potential penalties for a security deposit violation, and most issues can be resolved amicably, usually with the return of the deposit with interest. If that doesn’t work, send the landlord a certified demand letter under the Massachusetts Consumer Protection Act, Chapter 93A. If that fails, take the landlord to Small Claims Court (the limit for these type of claims involving triple damages is $6,000) or contact an attorney.





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Massachusetts Landlord Tenant Law: A Legal Refresher Course For Landlords

by Rich Vetstein on July 28, 2009 · 5 comments

in Housing Discrimination,Landlord Tenant Law,Leasing,Massachusetts Real Estate Law,Rental Housing

Post image for Massachusetts Landlord Tenant Law: A Legal Refresher Course For Landlords

With the impending influx of renters and students invading the Greater Boston area soon, let’s review some often asked questions concerning Massachusetts landlord tenant law to assist landlords in navigating the rental process.

Screening Prospective Tenants: What You Can and Cannot Ask?

Landlords can legally ask about a tenant’s income, current employment, prior landlord references, credit history, and criminal history. Your rental application should include a full release of all credit history and CORI (Criminal Offender Registry Information).  Use CORI information with a great deal of caution, however, and offer the tenant an opportunity to explain any issues. Landlords should also check the Sex Offender Registry as they can be held liable for renting to a known offender. Use the rental application and other forms from the Greater Boston Real Estate Board.

Under Massachusetts discrimination laws, a landlord cannot refuse to rent to a tenant on the basis of the tenant’s race, color, national origin, ancestry, gender, sexual orientation, age, marital status, religion, military/veteran status, disability, receipt of public assistance, and children. It’s best to stay away from asking about these topics.

Students, especially undergraduates, often create problems for landlords. Meet with students personally before signing the lease and firmly explain a “no tolerance” policy against excessive noise, parties and misbehavior.

Careful screening of tenants is far less expensive than the cost of evicting a problem tenant.

Security And Last Month’s Rent Deposits:  Should I Take One?

I advise landlords not to take security deposits because any misstep, however innocent, under the complex Massachusetts security deposit law can subject the landlord to far greater liability than the deposit. Among other requirements, the security deposit law provides:

  • a landlord must give the tenant a written receipt with information as to where the deposit is being held;
  • a landlord must hold a security deposit in a separate interest bearing account, and pay interest to the tenant yearly;
  • at the beginning of the tenancy, a landlord must provide the tenant with a written “statement of condition” of the rental unit detailing its condition and any damage;
  • the tenant may note any damage on the statement of condition
  • At the end of the tenancy, if the landlord desires to deduct repair costs from the security deposit, it must provide the tenant with written notification and copies of all estimates within 30 days of the tenant’s move-out.

Under the law, any slip-up on these requirements can subject the landlord to liability for 3 times the deposit plus the tenant’s attorneys’ fees. That’s why I advise my landlord clients that security deposits aren’t worth the money. If you need a deposit, take a last month’s deposit, the requirements of which can be found here in the Massachusetts last month’s deposit law.

Due to the high interest in security deposits, I wrote a full post on the topic.  Click on Massachusetts Security Deposits to view the article.

My Property Has Lead Paint, What Do I Do?

Under the Massachusetts Lead Paint Law, landlords (and real estate agents) must disclose to tenants the presence of known lead paint for property built before 1978. The property must be de-leaded if a child under 6 will live there. That means if a young couple moves into a unit, then has a baby, the landlord must de-lead the property. There is no way around de-leading other than risking a discrimination claim for not renting to families with small children which is illegal. (Of course, many landlords unlawfully reject families with children). Exposing children to lead paint puts a landlord at huge legal risk.  Financial aid and tax credits for de-leading are available to qualified property owners. For all Massachusetts rental property built before 1978, landlords must provide all tenants regardless of family composition with a Massachusetts Tenant Notification and Certification form, and all lead inspection reports and testing information, if available.

Can I Take A Finder’s Fee?

Only a licensed real estate broker can lawfully collect a finder’s fee for bringing together a landlord and a tenant.  Landlords who don’t work with brokers cannot charge a finder’s fee.

For more information, I recommend reading the Landlord’s Guide To the Law by the Massachusetts Attorney General’s Office.





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Hiring A Massachusetts Home Improvement Contractor: 10 Things You Need To Know

by Rich Vetstein 07.14.2009 Construction Law
Thumbnail image for Hiring A Massachusetts Home Improvement Contractor: 10 Things You Need To Know

Sadly, completing a home improvement project on time, on budget and with good, quality work is the exception rather than the norm these days. I have seen homeowners pour their home equity lines and savings into home improvement projects only to see the project left incomplete and riddled with defective and poor quality work, or [...]

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The Catch-22 Impact Of New Fannie Mae (FNMA) Condominium Lending Regulations

by Rich Vetstein 07.01.2009 Condominium Law
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Recent Fannie Mae (FNMA) condominium lending regulations are beginning to live up to the hype as having an onerous impact on condominium sales and project development. The changes, made in January 2009, were part of an effort by mortgage giants Fannie Mae and Freddie Mac to limit risky lending in a segment of the housing [...]

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