Author Archives: Jay Butchko
Be Very Careful With Balloon Payment Loans
Let’s say it’s time to buy a new home or property, and you take out a mortgage on that property. The mortgage payments look very affordable—much less than what you would think they would be for a loan of the size that you are taking out. But what you don’t realize is that at… Read More »
What Happens To Homestead Property, In Probate Court?
Florida is unique amongst many states in that it completely protects your homestead property from creditors. Absent you giving permission for your home to be taken (such as when you take out a mortgage or buy property subject to a homeowners association lien), if a judgment is ever entered against you, your homestead property… Read More »
Understanding Basic Documents In Your Real Estate Closing
When you sit for a real estate closing, and in the weeks beforehand, there will be a lot of terms thrown around. Some terms are so basic, they may never be explained to you. But that doesn’t mean you know what they mean. Three terms that you will often hear in relation to your… Read More »
What Happens If You Buy Property With A Tenant Living In The Property?
If you buy property at foreclosure, you may already be aware of some of the risks involved. Encounters such as liens that survive foreclosure or poor property conditions are both valid, common concerns. Another possible risk that buyers of foreclosed property don’t always consider is the property being occupied. What if there’s a tenant… Read More »
Adjustable And Fixed Rate Mortgage Pros And Cons
During the housing market crash in the late 2000s, a lot of the blame was placed on so-called “exotic” mortgage products. These were mortgages that tended to adjust during the life of the loan-sometimes drastically and significantly. Often, they would adjust so much that the homeowner could no longer afford the newly adjusted rate,… Read More »
Common Real Estate Contingencies
When you are buying or selling property, you may have heard your real estate attorney talk about contingencies. But what are contingencies, and how do they affect your real estate contract and real estate closing? What is a Contingency? There are a lot of moving parts to a real estate closing, and a lot… Read More »
It’s Not Eviction, It’s Ejectment
When it comes to ways to get people out of property or ways that people can be removed from property, we often think of two main methods. Foreclosure is where someone owns a home but doesn’t pay the mortgage, while eviction is when a tenant rents but doesn’t make the rent payment or otherwise… Read More »
Using An Enhanced Life Estate Can Help You Avoid Probate (And Has Other Benefits)
An enhanced life estate is a type of joint ownership that allows someone to live in their home during their lifetime and transfer it to a beneficiary upon their death. This can be a valuable tool in estate planning, as well as in avoiding probate or the probate courts. You can create a life… Read More »
Using A Guardian Advocate For Special Needs Children And Adults
When an adult is in need of a guardian, it can often be a complicated process. An examination committee must make a determination as to what the ward (the person who will need the guardian) can and cannot do, and the court must determine not only if a guardian is needed, but the extent… Read More »
The Homestead Exemption Is Another Advantage Of Buying A Home In Florida
You may have heard a lot about the protections of Florida’s homestead laws, and about how strong they are compared to many other states. In fact, many people buy property here with the intended purpose of taking advantage of our homestead laws. But what are those laws and when do they apply? What is… Read More »