Some people think that any lease is a good lease, or that all leases are created equal. They couldn’t be more wrong, and it is a very expensive lesson to find out after you buy a rental property that the lease or leases on which you depend for the income to pay...
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2009 Mechanic’s Lien Law Changes
A mechanic’s lien is a security interest in personal or real property for those who have supplied labor or materials without being fully paid. In Pennsylvania and most other states, these liens are statutory in nature. These protective devices exist to provide...
PROA Needs Your Help For its Legal Defense Fund to Fight for Real Estate Investors Statewide
Why does it matter to a landlord in Pittsburgh or Philadelphia what a small town council does in the middle of the state? Why should an investor in Erie worry about the result of a lawsuit in Common Pleas Court in Lackawanna County? The answer to these...
Seven Things to Know Before You Buy a Rental Property — Thing One: Utilities
As a real estate lawyer for 25 years, I have watched many investors come and go, and some stay and prosper for the long haul. I have helped them with contracts, closings, evictions, contractor troubles and sales, among other things. Each time someone calls me...
Mortgage Fraud Task Force Indicts More Investors and Professionals in July
In March, Assistant U.S. Attorney Brendan Conway spoke to the ACRE meeting in Pittsburgh, told us about the indictments the Mortgage Fraud Task Force had made to date, and promised that more investigations underway would lead to more indictments. In July,...
Home Improvement Contractor Registration Act 132
Dramatic change has come to the home improvement contracting business in Pennsylvania, with the Home Improvement Consumer Protection Act, which has an effective date of July 1, 2009. The new law, also known as Act 132 of 2008, and found at 73 P.S. Section...
PROA Board Meeting June 2009
The Board of Directors of the Pennsylvania Residential Owners’ Association held its quarterly meeting in Harrisburg on June 4th. I attended as ACRE’s representative, and met with other Directors representing over twenty different real estate investors’...
Understanding Pennsylvania Mortgages
I. The Legal Nature of Mortgages A mortgage is the most common lien found on real estate. The title search will provide information on the date of the mortgage, the date of the recording of the mortgage and the original or face amount of the loan. In order to...
Mortgage Reform and Anti-Predatory Lending Act, H.R.1728 to Pose Problems for Real Estate Investors if Passed
Just when real estate investors are consumed with local rental and state ordinances, we have received news from National REIA of a bill passed by the U.S. House of Representatives on May 7, 2009 and working its way through the Senate which poses concerns for...
Mortgage Fraud Task Force Catches Many In Western PA
In February, the Western Pennsylvania Mortgage Fraud Task Force celebrated its first anniversary by indicting fifteen more individuals in Federal Court for alleged offenses. The persons indicted face charges including closing real estate transactions with...