March 2010
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Ten Ways To Get More Money From Your Home

Renovations, marketing tactics and everyday moves can make your property worth [...]

Short Sale Or Foreclosure: Suffering Legal Liability To Help Your Credit Score

The Orlando Sentinel ran a front page article in this Sunday’s paper about short sales and foreclosures. [...]

Civil Forfeiture: A New Tool to Balance State and Local Budgets

While the talking heads on television declare the recession over, in the meantime, state and local governments face record deficits.  Here in Arizona, our state budget deficit represents more than 50% of anticipated 2010 revenues.  And while Arizona faces perhaps the largest per-capita budget shortfall in the United States, many other states have a similar funding crisis. Unfortunately, there are very few politically expedient ways to stem the flow of red ink.  Raising taxes is not only politically unpopular, but threatens to further depress state and local economies.  Cutting benefits is even less popular.  On the other hand, confiscating the “proceeds of crime” has a near-universal appeal.  And using “civil forfeiture” statutes in effect in all 50 states, police have pursued this tactic [...]

A "Deed In Lieu" Offer From Bank May Be A Trap

Cash Payments Offered To Tenants Of Foreclosed Properties

As previously mentioned on this Blog a new federal law protects tenants of foreclosed properties. The law requires the lender to honor the terms of bona fide leases after the lender takes back the property at foreclosure sale. At least one federal lender, “Freddie Mac” is offering to pay tenants to move out of properties after foreclosure. I received a letter from a law firm representing Freddie Mac addressed to the “unknown tenants” who leased and occupied a foreclosed house wherein Freddie Mac offered the tenants $4,000 cash to leave the property in 30 days. The proposed settlement required the tenants to deliver the property in broom clean condition. Freddie Mac offered to deliver a check payable to the occupants who sign the stipulation. Not only does the new tenant law protect tenants’ lease occupancy rights after foreclosure, but the federal government mortgage agencies are now paying tenants to move into another dwelling. Making cash offers to unknown tenants is generous and also advantageous to the mortgage lender which wants quick control of the foreclosed property. The practice also invites abuse. A homeowner facing probable foreclosure could enter into bogus lease contracts with existing tenants, or even fake tenants, and then try to extract payments from lenders. Fake lease arrangements are certainly civil fraud and may also be criminal. Many borrowers lied on mortgage loan applications, and I suspect some will use misrepresentations to gain cash payments offered by lenders after foreclosure. posted by Jonathan Alper, bankruptcy and asset protection attorney, Orlando, Florida [...]

Supremes to Decide whether States Can Indefinitely Delay Forfeiture Hearing

I’ve never been convinced that the U.S. Supreme Court has any interest in actually defending the Constitution and Bill of Rights.  Among other decisions “protecting” our freedoms, the Supreme Court has: Upheld the power of state and local governments to seize private property from one group of people for the benefit of a more powerful private interest Upheld the power of the federal government to prohibit farmers from growing crops on their own land for their own consumption Upheld the right of the President to invalidate contracts calling for the settlement of debts in gold or other precious metal, rather than in fiat dollars. I could go on and on, but the record is clear that for more than two centuries, the Supreme Court has systematically eviscerated the freedoms the Founding Fathers bestowed upon us. For that reason, I’m not particularly optimistic about the prospects for the latest legal challenge to the horrific practice of “civil forfeiture” to reach the Supreme Court.  (Civil forfeiture is a legal procedure in which prosecutors can seize your property without accusing you, much less convicting you, of any crime.)  The Court has agreed to hear a challenge to a law in Illinois that permits the State to seize someone’s property without a warrant, and then indefinitely delay a hearing to determine whether there is probable cause to detain the property ( Alvarez vs. Smith , Case No. 08-351). My guess is that the Court will uphold the right of Illinois to simply seize your property and deny you any right to challenge the seizure in court.  I make this prediction not only because of the Court’s long record of upholding laws and regulations that destroy our rights, but because of a long line of decisions specifically upholding draconian civil forfeiture statutes.  In 1827, the Court confirmed that the government could confiscate your property in a civil forfeiture without a criminal conviction and that property of people entirely innocent of any wrongdoing whatsoever could be forfeited. In 1878, the Court again upheld the right of the government to seize property from an entirely innocent owner.  It did so again in 1921 and then, to make sure we really got the point, made the same determination in 1996.  In 2000, Congress enacted a civil forfeiture reform statute that established an “innocent owner” defense for most federal civil forfeitures.  But in forfeiture under state law, no innocent owner defense may be available.  Even if it is available, in states like Illinois, the government may indefinitely delay legal proceedings to allow you to assert it. Civil forfeiture is a legal abomination that has no place in a civilized society.  A Supreme Court interpreting the Constitution and Bill of Rights as written wouldn’t merely restrict civil forfeiture, but abolish it at all levels of government. There’s not a snowball’s chance in a blast furnace that will happen in this case.  The best we can hope for is that the Court will invalidate the Illinois law due to the ability of the state to effectively deny civil forfeiture victims the right to a hearing.  And I’m not optimistic. To learn more about civil forfeiture, visit the Web site of Forfeiture Endangers American Rights (FEAR) at http://www.fear.org .  It’s a great source of hard-to-find information on civil forfeiture—and a great antidote to the avalanche of pro-forfeiture propaganda on the Internet. Copyright © 2009 by Mark Nestmann [...]

Ironshore Creates Global Energy Property Unit

Ironshore Inc. has established a dedicated Global Energy Property business, as an extension of its Global Property division. Ironshore will underwrite comprehensive coverages on commercial risks [...]

Police: Texting, Talking Trucker Hits Car, Pool in New York

Police say a tow truck driver was texting on one cell phone while talking on another when he slammed into a car and crashed into a swimming pool. Niagara County sheriff's deputies say [...]

Markel International Appoints Drake as Underwriter in Singapore

Markel International Limited has appointed Tom Drake as underwriter in its Singapore branch. The appointment will help Markel to develop facultative and treaty business in the property [...]

South Carolina Furniture Store Wants City Added as Fire Suit Defendant

Attorneys for the furniture store where nine Charleston firefighters perished two years ago want the city of Charleston added as a defendant in a wrongful death lawsuit. Attorneys for the Sofa [...]