Last month, I was contacted by a seller who sold his home last August. He had been trying for months to figure out why he paid 2015/2016 school taxes through his tax escrow, paid more 2015/2016 school taxes at closing, and never got his money back. He thought...
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Facts and Figures about Pittsburgh’s anticipated 2016 Rental Registration Ordinance
In November of 2014, the Pittsburgh City Council had a public hearing on Ordinance 2014-1020, the Residential Rental Housing Registration Ordinance which would impose on each residential rental unit in the city a $65.00 per year registration fee. That hearing...
PROA Regroups for the Long Haul on Student Housing Legislation
Bradley S. Dornish with twinkle.verma@thomsonreuters.com After over a year of hard work finding the right language, a committed sponsor in the legislature, and the right timing to move forward, we had in HB 809 sponsored by Representative Sue Helm a vehicle we...
In Act 167 PROA Sees Another Victory for Landlords Dealing with Abandoned Tenant Property
Since the passage of Act 129 in the summer of 2012, landlords in Pennsylvania have had far more direction from PA law on how to handle personal property left behind by tenants who have vacated their rental units than was ever previously available. Our state...
National REIA Mid-Year Conference Brings Exciting News
ACRE is the Western PA chapter of National REIA, the National Real Estate Investors’ Association. The association has given us connections to and feedback on the quality of national speakers, and has kept us up to date on issues facing real estate investors all...
Real Estate Agent or Real Estate Investor?
The old adage “If it walks like a duck and it quacks like a duck, it’s a duck” might as well be the title of this article, since most of what I am about to tell you is aptly covered by that adage. Real estate investors are often told by experts and gurus that...
Dodd-Frank 2014 Part Two: New Federal Rules for Consumer Mortgage Loan Servicing and Loss Mitigation
In addition to the new rules for loan applications which went into effect this January, (covered in part one of this article) the Consumer Financial Protection Bureau promulgated a new set of rules governing the servicing of existing consumer mortgage loans by...
Dodd-Frank 2014 Part One: New Federal Rules Affecting Consumer Mortgage Loan Applications
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...
Act 93 Expands Effects of Unpaid Real Estate Taxes in PA
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...
July PROA Board Member Message
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...