Posts tagged as:

Richard Vetstein

Update: Jury Sides With Realtor Over Second-Hand Smoking Disclosure Case

by Richard D. Vetstein, Esq. February 17, 2010 Condominium Law
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In the recent and well publicized case of the disgruntled condominium buyer suing her realtor over the disclosure of second-hand smoke, the jury today sided with the realtor. The Boston Globe reports today that the jury took less than an hour to deliberate whether a realtor was liable for allegedly not disclosing to a condominium [...]

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Massachusetts Lead Paint Law Advisory: Family (Un)Friendly Policies Can Get Landlords Into Big Trouble

by Richard D. Vetstein, Esq. February 16, 2010 Condominium Law
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My Boston.com fellow blogger, buyer’s agent Rona Fischman, has fielded several questions recently regarding the Massachusetts Lead Paint Law. Prospective renters have called apartment listings only to be hung up on abruptly with a “It’s not deleaded!” if they hear a child in the background or if they answer truthfully about having children. Mothers have [...]

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RESPA Fallout: Lenders Combat Deficiencies With New Good Faith Estimate Through “Loan Worksheets”

by Richard D. Vetstein, Esq. January 20, 2010 HUD

The Los Angeles Times and other media outlets are claiming that lenders’ use of loan cost worksheets and estimates are a “sidestep” of the new RESPA mandated Good Faith Estimate which went into effect on January 1. HUD officials say they plan to conduct a review of the growing use of “worksheets” and “fee estimate” [...]

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In Search Of A “Good Faith Accurate,” Not Just A Good Faith Estimate: A Senior Loan Officer’s Review Of The New 2010 RESPA Rules

by Richard D. Vetstein, Esq. January 6, 2010 Closings

I’m pleased to welcome another guest blogger, David M. Gaffin, a licensed Loan Officer with Greenpark Mortgage Corp. of Needham MA. Dave is licensed to originate in MA, NH and FL. You can visit him at Greenpark Mortgage or through his LinkedIn profile.
The new 2010 RESPA rules are all the rage right now. So I’m [...]

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New RESPA Rules 2010: Disclosure of Settlement Services, Closing Attorneys’ Fees, And Title Insurance

by Richard D. Vetstein, Esq. January 3, 2010 Closings
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In this post, I’ll discuss a very important issue to lenders, closing attorneys and borrowers alike: how the new RESPA rules handle the disclosure of closing attorney fees/costs and title insurance.
The new RESPA rules significantly change the way lenders must disclose settlement services, in particular closing attorneys’ fees, and title insurance. Generally, under the new [...]

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RESPA Webinar Available: New GFE and HUD-1 Settlement Statement Guidance

by Richard D. Vetstein, Esq. December 21, 2009 RESPA
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I received a link to a pretty good webinar on the new HUD RESPA rules. HUD’s Assistant Secretary for Residential Homes, Vicki Bott, participated in it along with mortgage industry veterans. It’s about an hour long.
Click here and click the play button on the small screen.

[...]

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New FHA Condominium Guidelines: Financially Sound Projects = Better Investments

by Richard D. Vetstein, Esq. December 9, 2009 Condominium Law
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I’m getting pretty tired of all the condominium developers and realtors out there claiming and clamoring that the new FHA condominium guidelines which went into effect this week are the next coming of the Apocalypse. The fact remains that the new guidelines will ensure that condominiums are financially sound and well-run, and that’s good news [...]

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With Real Estate, Tough Options For Massachusetts Divorcing Spouses In This Economy

by Richard D. Vetstein, Esq. December 2, 2009 Divorce
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Divorce, unfortunately, often plays a major role in real estate transactions and decisions. The tough economy has added insult to injury for those unfortunate souls facing divorce in Massachusetts.
Quincy, Massachusetts Divorce and Family Law Attorney Gabriel Cheong offers great advice on his blog, the Massachusetts Divorce Lawyer Blog, about what to do if you are [...]

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Final (Hopefully!) Revised FHA Condominium Lending Guidelines Issued

by Richard D. Vetstein, Esq. November 21, 2009 Condominium Law
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After several revisions and delays, the Federal Housing Administration (FHA) has finally issued major changes to its revised guidelines on mortgage insurance requirements for condominium projects. FHA first proposed the revisions back in June (under Mortgagee Letter 2009-19). The new guidelines are effective December 7, 2009; however, some of the requirements are phased in through January 31, 2010.
There [...]

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Are You Ready For Some RESPA Reform? Part I, An Overview Of The New Regulations

by Richard D. Vetstein, Esq. November 17, 2009 Closings
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New, sweeping changes regulating how lenders, closing attorneys and title companies disclose loan and closing costs are set to go into effect January 1, 2010. The new regulations are part of a long awaited reform to the 30 year old Real Estate Settlement Practices Act known as RESPA aimed at providing greater transparency and fostering [...]

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Creating A Memorable Blog To Market Your Law Practice Free Webinar Now Available Online

by Richard D. Vetstein, Esq. November 20, 2009 Blogging

Noted Boston legal marketing guru, Steve Seckler of CounseltoCounsel.com, and Richard Vetstein (that would be me) recently co-presented a free webinar for lawyers who are interested in blogging, called Creating a Memorable Blog To Market Your Law Practice.  The webinar is now up on the Web for all to check out and enjoy.  Click here [...]

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HUD Announces Delay In Enforcement Of New RESPA Rules For 120 Days

by Richard D. Vetstein, Esq. November 14, 2009 Closings
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For my entire series on the new 2010 RESPA rules, look to the right under “Spotlight On: RESPA Reform” or click here.
The U.S. Department of Housing and Urban Development (HUD) announced on Friday that it will not enforce for a 120 day period new, sweeping regulatory changes to the Real Estate Settlement Procedures Act (RESPA) [...]

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Thanks to our Readers! The Massachusetts Real Estate Law Blog Is Top Of The Class

by Richard D. Vetstein, Esq. November 27, 2009 Blogging

Thanks to you, our readers, the Massachusetts Real Estate Law Blog has quickly become the highest ranking legal blog focused solely on Massachusetts substantive law according to Avvo.com and Alexa.com rankings. As reported in BizJournals, the blog has proven very popular to home buyers, sellers, consumers, realtors and lenders due to its easy to read [...]

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

by Richard D. Vetstein, Esq. July 1, 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, were part of an effort by mortgage giants Fannie Mae and Freddie Mac to limit risky lending in a segment of the housing market [...]

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There’s Nothing “Standard” About The Massachusetts Standard Form Real Estate Purchase And Sale Agreement

by Richard D. Vetstein, Esq. August 21, 2009 Condominium Law
Standard Form Massachusetts Real Estate Purchase Sale Agreement

Although home buyers sign a never ending pile of legal documents to purchase a home, arguably the most important document in the entire transaction is the purchase and sale agreement. In Massachusetts, the purchase and sale agreement most often used is the so-called standard form agreement supplied by the Greater Boston Real Estate Board or [...]

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

by Richard D. Vetstein, Esq. July 14, 2009 Construction Law
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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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Massachusetts Landlord Tenant Law: A Legal Refresher Course For Landlords

by Richard D. Vetstein, Esq. July 28, 2009 Housing Discrimination
Massachusetts landlord tenant law

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, [...]

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The Massachusetts Offer To Purchase Real Estate: A Binding Contract

by Richard D. Vetstein, Esq. September 8, 2009 Condominium Law
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The first step in purchasing or selling Massachusetts residential real estate is the presentation and acceptance of an Offer To Purchase. Most often, the buyers’ real estate broker prepares the offer to purchase on a pre-printed standard form and presents it to the seller for review, modification, and acceptance. Attorneys are often not involved in [...]

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Massachusetts Property Values: An Appraiser’s Outlook And Predictions On Future Massachusetts Property Values

by Richard D. Vetstein, Esq. July 31, 2009 Appraisals
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I’m pleased to have Donald J. Griffin, MAI, SRA, an experienced appraiser with Don Griffin Appraisals, Inc., who is here to guest blog about a topic very much on the mind of Massachusetts homeowners, buyers and sellers:  Massachusetts property values.
What Happened?  The Last Three Years

The Massachusetts real estate market was artificially stimulated by forces outside [...]

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

by Richard D. Vetstein, Esq. August 5, 2009 Landlord Tenant Law
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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 [...]

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Time’s A Runnin’ Out On The First Time Homebuyer $8,000 Credit

by Richard D. Vetstein, Esq. September 8, 2009 Massachusetts Property Values

Now that time is running out on the First Time Home Buyer Credit–what I call the Realtor Cash For Clunkers program — I came across this comically shameless video produced by one of America’s largest real estate brokerage companies.
Fast Tube by Casper
But seriously folks, the credit seems like a good idea, but filled with exceptions.  [...]

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Ibanez Update: Massachusetts Land Court Decision Invalidates Foreclosures Based On Post-Sale Assignments

by Richard D. Vetstein, Esq. August 27, 2009 Foreclosure
Massachusetts Ibanez foreclosure decision Land Court

Update (2/25/10)–Mass. High Court May Take Ibanez Case
Breaking News (10/14/09)–Land Court Reaffirms Ruling Invalidating Thousands of Foreclosures. Click here for the updated post.

In late March of this year in the case of U.S. Bank v. Ibanez, Massachusetts Land Court Judge Keith C. Long issued one of the most controversial rulings in recent years which has [...]

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Massachusetts Foreclosures Down Almost 60%, A Good Sign or Statistical Aberration?

by Richard D. Vetstein, Esq. June 30, 2009 Foreclosure
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The Boston Globe is reporting that foreclosures in Massachusetts took a steep dive in May, the second consecutive month they have fallen, according to data released yesterday by Boston real estate tracking firm Warren Group.

According to the Globe, there were 582 foreclosure deeds recorded in May, a 58.6 percent decrease from 1,405 during the same [...]

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Guest Blogging on Boston.com’s Real Estate Blog

by Richard D. Vetstein, Esq. July 23, 2009 Blogging
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Beginning with my introduction today by real estate broker extraordinare and Boston.com blogger, Rona Fischman, I will be guest blogging on Boston.com’s Real Estate Blog.
I will be answering questions on timely topics affecting Massachusetts real estate law, including home improvement projects, condominiums, landlord-tenant issues, and more.  I am thrilled for the opportunity.  Stay tuned for [...]

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