Video Summary

Can I homestead property if I live on the property for six months out of the year? The answer to the question is not how long you reside there is whether or not you’re a resident of state of Florida and that is your permanent residence. It doesn’t matter how long you reside there, it only matters if it’s your permanent residence when they’d be assigned for homestead exemption. You state that you are not receiving any benefits as a result of being a resident of any other state and therefore you are a permanent resident of Florida. Many times people may own a home here in Florida and they decide to get in their motor home and the drive all over the United States, so they’re not here but for a few months and not very long at all. However, that’s still their homestead property and that they are not getting any benefits from any other state and they’re permanent resident of the state of Florida and that’s their home address. One thing that I need to caution you on is if you are married, you cannot have one spouse have a homestead in one state. And you have homestead and the state of Florida that will not work and you are not entitled to homestead and could be fined if you do obtain a homestead. And the property appraiser finds out about it. If you have any questions, will give me a call at (727) 847-2288.

Video Summary

Can I homestead property and two different States? The answer is no for Florida. And that whenever you sign for homestead exempt you’re signing that you are a permanent resident of the state of Florida. And furthermore, that you’re not receiving any benefits as a result of being a resident of any other state. It also, applies to if you’re married, that neither you nor your spouse are receiving those benefits. They consider a husband and wife as one family unit so that one spouse can’t get homestead in one state and the other spouse get homestead in Florida. Sometimes people query as to, well, how do they find out? Well, I don’t know, but I know the property appraiser as hard at it. They’ve found where this one fellow was getting free parking in his town, as a result of being a resident of that town in Massachusetts. How they found out, I don’t know, but they have people working on that to avoid homestead fraud. The penalties for getting homestead and having benefits elsewhere are very severe. I think the interest rates like 15%. The penalties besides the tax that you should have paid is like 50%, it’s sort of like speeding. You don’t want to get caught. So, I suggest don’t do it. When you make application, you state that you’re not getting any benefits from another state. If you have any questions, give me a call (727) 847-2288.

Video Summary

How do I remove a lien from my property if the contractor’s no longer in business? The construction lien statutes provide a couple of ways to have the lien removed. One is you can transfer it to a cash bond and that way you can remove it from the property and proceed with a refinance. The second way, if you’ve already paid them and you wish to remove the lien, you can file a notice of contest of lien in the public records and the contactor has 60 days in which to file a foreclosure action or else the lien is extinguished. Those are two ways to do that.

The other way if you’ve paid the contractor and to track down to try and get him to sign a release, if you’ve done that, you also whenever you’re refinancing or selling the property, you need to terminate your notice of commencement and then also get a contractor’s final affidavit from whoever did the work for you under the notice of commencement in order to be able to ensure that the title against any construction liens.

If you have a problem with a construction lien and problems with your contractor, give me a call. I’ll be glad to help you and see about getting the transaction closed for you or eliminating the claim of lien. Give me a call at 727-847-2288.

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.