Once I Receive A Homestead Exemption How Do I Get My Mortgage Payments to Lower?
Video Summary
Once I receive a homestead exemption, how do I get my mortgage payments to lower? You cannot get your payments lowered once you get your homestead exemption in place. That is a function that your mortgage company does. They review your escrow, and it’ll take them about 18 months after you get your homestead exemption. You get your first tax bill, they will then analyze your escrow to see if they’re collecting too little or too much, and then they will adjust your payments.
You cannot, just because you filed for homestead exemption, get them to lower other than if you call your lender and try and talk to them about it, you may be able to talk to them about it, but I think that you’re going to wind up being somewhat frustrated until they see the actual tax bill. Once you file for homestead exemption, the following November after you file, after the first of the next year, is when the first bill will come out and then after that they will take some time to adjust it. It is a function of your lender, who is obligated by law to review your escrow. I’m not sure just the time period, but I’d give it about 18 months after the first of the year. Big thing is, be sure you file for homestead exemption. If you have any questions about your mortgage, give me a call at 727-847-2288.
- Published in Real Estate, Videos
Lunch With A Lawyer – Oct 10, 2017
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Can I Fire My Title Company After I Have A Sales Contract With Them?
Video Summary
Can I fire my title company after I have a sales contract with them? Well, are there any reasons to fire your title company? Well, yes there are. If they’re not performing or they tell you that you can’t solve particular problems, so that you do have the ability to do that. The title company is usually controlled by the contract, or whenever you sell your property it says the buyer can select the title agent, or it says the seller can select. In the Tampa Bay/Pasco County/Pinellas Hillsborough area, almost all contracts provide that the seller will select and pay for the title insurance. That gives you the ability to do that.
Many realtors also have a title company which the broker has some interest or they partner with someone, so many times they just simply take care of it for the seller and don’t confer with the seller as to what title company they wish to use, and the title company proceeds with it. You do have a choice as to whom you would like to select. Furthermore, if you’re not pleased with or you’re having problems with them, there’s no problem with discharging them. Usually in the title industry, they don’t try and charge for the work that they have done. Then you can select whatever title company you would like.
If you’re listing your home, you may wish to choose your real estate attorney or someone else to write the title insurance and be your title agent so you have someone available and if so, you simply need to let the realtor know whenever you sign the listing agreement who you’d like to close the transaction. Or, once you signed your contract, you need to tell them that you would like, in the Pasco County area say, “Well, I’d like to have Roland Waller take care of my title insurance, and that I understand that he’s an attorney, sits at the table and closes the deal, and doesn’t charge an additional attorney fee.” That’s something that you can do. You can select, you can discharge your title agent and rehire another one.
The reasons why you would fire or discharge your title agent is because they’re not performing or they are insisting that there’s a title problem, that they want you to pay a lien that you don’t believe that you should or you can pay, so you may need to confer with a different title agent or an attorney title agent such as myself to see if I can solve the problems. If so, then I can serve as the title agent, although if there are title problems, there may be an additional charge for attorney fees to resolve any title issues and you can move the title order.
Whenever you’re refinancing, many times the lender will say, “Well, could I see your title policy that you had whenever you purchased the property?” The reason for that is, is that you can give them the owner’s policy when you purchase the property. You can get what they call a reissue credit or a discount on your title insurance. You can tell whatever lender you select whom you would like to do your title work. If you tell your lender, “Well, I’d like to have Roland Waller be my title agent,” and give them my information, well then, I would be pleased to handle the refinance for you, so you can select that and the lender should use whoever you select, since you will be paying for it. If I’ve closed a deal previously, I can see about finding your prior policy and give you a reissue credit as far as refinancing’s concerned.
If you’re getting ready to sell your house, well, tell you realtor that you’d like to have my office handle the title insurance, and we’ll be glad to quote you the fees, which I think are competitive with any title company, and you get the bonus of having me either at the closing table, or certainly reviewing the matter ahead of time. If you’re with a lender, you can also ask them use my office as far as refinancing the property. If you are refinancing, well, I look forward to hearing from you. My phone number is 727-847-2288.
- Published in Real Estate – Selling, Videos
Can A Convicted Felon Be the Guardian Of His Parents?
Video Summary
Can a convicted felon be the guardian of his parents? The answer is no, he can not. What are they to do? There’s any number of professional guardians that the court can appoint that do this on a regular basis. I guess I’m answering the question, I don’t know quite how to elaborate, but guardianships are certainly an expensive and not very good procedure.
So I would hope that, folks, if you are a convicted felon you can urge your folks to possibly set up a trust or some other arrangement. Do some estate planning in order to provide for whom they would like to take care of their money. And then, as far as a healthcare surrogate, as far as making healthcare decisions for them.
They can also sign what they call a pre-need guardian form, which would not … Even thought they designate a convicted felon, that you would not be able to serve, but maybe some alternate so they will control who their guardian would be.
With guardians, there’s a guarding of the person who is the one that makes decisions as far as the person who is referred to as a ward, as far as healthcare decisions, medical treatment, making sure that they’re taken care of.
Then you have the guardian of the property. And that’s the person who takes care of paying the bills, investing the money, and being sure that they money is used, is required in the guardianship to file annual accountings. And the guarding the person has to file an annual plan that says how the ward is doing and what arrangements have been made for the ward.
If you have any questions, I have Erica [Munns 00:02:08] with my office, who works in guardianships and would be glad to talk to you about a guardianship for your, for anyone for that matter, and go through what’s involved in the process. Give myself a call or Erica Munns at 727-847-2288.
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What’s The Difference Between A Living Will and A Last Will and Testament?
Video Summary
What is the difference between a living will and a last will and testament? A living will is a term that I usually use in describing a dying declaration, and that is set forth in the Florida statues that sets forth when life support can be discontinued. You sign the living will or the dying declaration that says that there are three circumstances where you’re directing and authorizing your healthcare surrogate who you designate to discontinue life support. One is if you have a terminal condition. This means you’re laying there and you’re really not conscious, and the doctors don’t think you’re going to regain your consciousness. Besides that, you have a terminal condition. That’s whenever the healthcare surrogate would be authorized to discontinue life support.
The second one is if you have an end stage condition. That’s whenever the doctors or whatever can examine you, look into your eyes, or check on your vitals and determine that your system is shutting down and that you’re not going to survive very long anyway whether you’re on a respirator or life support. The third one, which is the one that most people are concerned about, is in the event that they’re basically brain dead and they don’t have any EEG brain waves. There was a case several years ago by the name of Schiavo where she expressed this verbally but did not put it in writing. There was years of litigation and millions of dollars in attorney fees spent over whether or not to discontinue life support. Simply executing this will authorize your healthcare surrogate or whomever you designate to discontinue life support if you are basically not able to, brain dead, as far as that’s concerned.
Whereas that’s what your living will is, then your last will and testament, that deals with your money. That takes effect before you die. The living will is what transpires while you’re still on this planet, although not in very good shape. The last will and testament does not become an operative until such time as you die, and then that sets forth what your plan is as to whom you want to receive any assets that are in your name alone. It’s really important that you do estate planning where you check with an attorney or check with our office, set up an appointment, and discuss how you have your assets titled. You can have this great will that says, “I leave X number of dollars to my sister, and I leave X number of dollars to my brother, and I leave all the rest of it to my three grandchildren,” and set forth all of that. Then you’ve set up all your accounts so that they’re basically joint accounts, and there is no money there to take care of these provisions. The will doesn’t really express or show how you want your assets distributed.
You need to look at all of your assets and then determine whether or not you want them to be titled in a certain way so they automatically go to a particular beneficiary. Then you can recite that, the same operative provisions in your will that says, “Well, this is what I’ve done, but this is what I really mean. I want them to receive these joint assets,” or talk about the overall estate plan so that you don’t have any duplication in the event there are assets and you’ve already provided for them with a joint account.
That is your last will and testament. The last will and testament only controls assets that are in your individual name and do not have a designated beneficiary or co-owner. Wills do have to be probated. Sometimes folks think that because you have a will, you don’t have to probate those. Hopefully that’s the distinction that you have between a living will and a last will and testament. Give me a call if you’d like to do some estate planning. My phone number is 727-847-2288.
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