Dodd-Frank 2014 Part One: New Federal Rules Affecting Consumer Mortgage Loan Applications

By Bradley S. Dornish, Esquire

The Dodd-Frank Wall Street Reform and Consumer Protection Act became law in July of 2010. However, the process of changing the consumer mortgage loan process in America dictated by Dodd-Frank is not yet complete. Two new sets of regulations promulgated by the Consumer Financial Protection Bureau went into effect on January 10th of this year. Click here to read more »

Act 93 Expands Effects of Unpaid Real Estate Taxes in PA

By Bradley S. Dornish, Esquire

In late November of 2013, a simple, four paragraph amendment to Pennsylvania’s Municipal Claim and Tax Lien Law was passed by the legislature, and signed by Governor Corbett.  This law, known as Act 93 of 2013, quietly became effective in late January 2014. The purpose of Act 93 was to help municipalities, school districts and counties in Pennsylvania collect overdue and unpaid real estate taxes more easily, without having to go through the tax sale processes available in PA. Click here to read more »

Is Pennsylvania Ready to End (Most) Property Tax for Funding Public Schools?

By Bradley S. Dornish, Esquire

At the September PROA Board meeting, the hot topic of conversation was House Bill 76, a bill sponsored by over 60 state representatives, which if it became law would replace the bulk of Pennsylvania property taxes for support of schools with sales and income tax increases on the state level. The law would also allow school districts to supplement their share of tax money from the state with earned income and net profits or personal income taxes on residents of their respective districts. Click here to read more »

July PROA Board Member Message

Bradley S. Dornish, Esquire

As I write this message, I have just finished a three day convention of leaders of real estate investors’ groups from all over Pennsylvania and the rest of the country.   It occurs to me that it has been some time since I wrote to you about our state organization, the Pennsylvania Residential Owners’ Association, PROA for short, and the National Real Estate Investors’ Association, National REIA. Click here to read more »

Is Partner a Four Letter Word for Real Estate Investors?

By Bradley S. Dornish, Esquire

Just  this week, as I have many times before, I had an initial consultation with an experienced real estate investor who had found a partner to help him to expand his real estate investing business a year or two ago, and is now in a costly and time consuming dispute over separation of his and his partner’s interests. In my practice as a real estate lawyer working with investors, I have seen many partnerships last a long time and be mutually beneficial for the partners, and others come apart with explosive force leaving both financial and emotional damage. Click here to read more »