Your search for gary laturno returned 9 results

Mortgage Refis Extended
K Hernandez - 07/01/09 12:00 AM - Comments (0)

For San Diego, one of the big sticking points on the federal homeowner-help refinancing program has been a restriction on how far underwater borrowers can be. The plan announced in February was initially offered to homeowners whose mortgages were worth 105 percent of their homes’ current value. Now the option to refinance will be extended to homeowners who are even further underwater. Today, HUD Secretary Shaun Donovan announced in Las Vegas that the plan will expand to include those 125 percent underwater on their mortgage but still current on their payments. (More than 30 percent of all homeowners in San Diego County who have mortgages are underwater.
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Savvy & Sage: Recap
K Hernandez - 06/03/09 12:00 AM - Comments (0)

I joined our media partners at NBC 7/39 to share some of the answers that we got from local real estate attorney and broker Gary Laturno last week in the second installment of our guest-host series, Savvy & Sage: Tips on Buying and Selling in 2009. Here’s the clip: View more news videos at: http://www.nbcsandiego.com/video. If you missed any of Laturno’s answers, here’s a quick summary: Could the bank come after me after I foreclose? What should I do if my payments are too high? Can I sue if I find mold?
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When Buying Foreclosures, Do I Pay Overdue Bills?
K Hernandez - 05/28/09 12:00 AM - Comments (0)

Guest-host Gary Laturno, a real estate attorney and broker, tackled your real estate questions yesterday as part of Savvy & Sage: Tips on Buying and Selling in 2009. Here’s his last answer: Reader Leonard asked: I am buying a condominium property that is a bank-owned foreclosure and the title policy says there is a $1,400 unpaid HOA lien on it from the prior owner before foreclosure. The bank who now owns it is not going to pay it. Am I responsible to pay this lien (aka can the HOA force me, as the new owner, to pay it) or was it wiped out during foreclosure? Also, does that differ if I buy a short sale property?
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‘My Payments Are Just Too High’
K Hernandez - 05/27/09 12:00 AM - Comments (0)

Guest-host Gary Laturno, a real estate attorney and broker, tackles your real estate questions today as part of Savvy & Sage: Tips on Buying and Selling in 2009. Reader Rick asked: Hi Gary, my house loan to value is now about 120%. I have a good job and want to save my house, but my payments are just too high. I understand the banks may drop my payments to 31% of my income, which would be a huge help and save me from foreclosure. Is this true and what do I do to hopefully save my house?
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Could the Bank Come After Me After I Foreclose?
K Hernandez - 05/27/09 12:00 AM - Comments (0)

Guest-host Gary Laturno, a real estate attorney and broker, tackles your real estate questions today as part of Savvy & Sage: Tips on Buying and Selling in 2009. Reader John J. Flynn asked what might be the bank’s reaction if a borrower defaults on a HLOC loan but keeps making payments on the first loan, the deed note. Flynn said to assume the property has negative equity, or that it would sell for less than is owed on the mortgages. He also asked if California is “practically a deficiency judgment state.” And he wondered if lenders come after the borrowers if, when they resell the foreclosed homes, they don’t get enough money to satisfy the loan balance.
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Can I Sue if I Find Mold?
K Hernandez - 05/27/09 12:00 AM - Comments (0)

Guest-host Gary Laturno, a real estate attorney and broker, tackles your real estate questions today as part of Savvy & Sage: Tips on Buying and Selling in 2009. Reader Chip asked: Hi Gary, What are the legal ramifications of houses that have mold? Can a buyer who finds evidence of past mold that was not disclosed at the time of purchase go back and sue the previous owner for repair costs? Thanks In most transfers of real estate in California the owner of the real property is required to provide the buyer with a Transfer Disclosure Statement (TDS) and to disclose the condition of the property to the buyer. (A TDS is not required in husband-wife transfers, probate sales, foreclosure sales, bankruptcies, REO’s and when one co-owner sells to another co-owner.) Can the buyer file a lawsuit against the seller if s/he fails to disclose mold in the home? The answer depends on the agreement of the parties concerning dispute resolution. Did the parties agree to the mediation and arbitration of disputes in their purchase agreement? If so, a buyer may be precluded from filing a lawsuit against a seller. (The California Association of Realtors (CAR) Purchase Agreement provides for the mediation and arbitration of disputes.)  Please also note that a seller may take the position that s/he did not know the property had mold. If so, the buyer would bear the burden of proving that the seller knew the home had mold and failed to disclose this fact. Final comment: Lawsuits are the worst way to resolve disputes. For information regarding mediation as a method of dispute resolution, go to my web site, www.GaryLaturno.com.
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How to Approach Three Upside-Down Short Sales
K Hernandez - 05/27/09 12:00 AM - Comments (0)

Guest-host Gary Laturno, a real estate attorney and broker, tackles your real estate questions today as part of Savvy & Sage: Tips on Buying and Selling in 2009. Reader Mark e-mailed a question in: Gary: We are short selling 3 properties, all upside-down with first and second liens. On each property, the first and second are with the same bank. We are hoping the second lienholders will accept very minimal payoffs. None of the seconds were used to purchase the properties they are attached to, but the proceeds from 2 of them were used to purchase 2 of the 3 properties (took a HELOC on property one, bought property two, took a HELOC on property two, bought property three, took a HELOC on property three for cash).  I know that in the event of a Trustees Sale the second could seek a defiance judgment. My question is whether the second could or would or seek a defiance judgment after they have accepted the minimal payoff in a short sale? Does it depend on the language used in the short sale agreement?  Also, could the HELOCs used for purchasing properties two and three be considered non-recourse?     Mark: You are correct.  Look at the language used in the short sale agreement.  In addition to releasing their lien, ensure that the short sale agreement expressly releases you of personal liability for the note.  You may want to have legal counsel review the short sale documents prepared by the lenders.
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Ask a Real Estate Attorney
admin - 05/26/09 12:00 AM - Comments (0)

Introducing: local real estate attorney and broker Gary Laturno. He’ll be guest-hosting this blog tomorrow to answer your pressing questions in the second installment of our blog series, Savvy & Sage: Tips on Buying and Selling in 2009. (You can view the questions and answers from our first installment with Prof. Leonard Baron here.) I’ve heard from several knowledgeable real estate folks around town that Gary is the person to talk to about options to avoid foreclosure including short sales, loan modifications and working with your bank to save your house. Gary said he’ll be happy to answer questions in the public forum tomorrow, and he’ll make his services available for free if any reader has more specific questions afterward. Here are some areas Gary can address — if your questions fit these topics, please send them our way and Gary will try to answer as many as possible: options for homeowners facing foreclosure ins and outs of national refinance/loan modification plans tips for negotiating with lenders where to go if you’re not getting help from your lender short sales — selling for less than you owe on your mortgage how to avoid scams targeting homeowners So, ask away. Leave your questions as a comment on this post in Survival, or drop an e-mail to kelly.bennett@voiceofsandiego.org.
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Ask a Real Estate Attorney
K Hernandez - 05/26/09 12:00 AM - Comments (0)

Introducing: local real estate attorney and broker Gary Laturno. He’ll be guest-hosting this blog tomorrow to answer your pressing questions in the second installment of our blog series, Savvy & Sage: Tips on Buying and Selling in 2009. (You can view the questions and answers from our first installment with Prof. Leonard Baron here.) I’ve heard from several knowledgeable real estate folks around town that Gary is the person to talk to about options to avoid foreclosure including short sales, loan modifications and working with your bank to save your house. Gary said he’ll be happy to answer questions in the public forum tomorrow, and he’ll make his services available for free if any reader has more specific questions afterward. Here are some areas Gary can address — if your questions fit these topics, please send them our way and Gary will try to answer as many as possible: options for homeowners facing foreclosure ins and outs of national refinance/loan modification plans tips for negotiating with lenders where to go if you’re not getting help from your lender short sales — selling for less than you owe on your mortgage how to avoid scams targeting homeowners So, ask away. Leave your questions as a comment on this post in Survival, or drop an e-mail to kelly.bennett@voiceofsandiego.org.
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