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Available Mortgage Interest Deduction under Tax Cuts & Jobs Act (“TCJA”)

Posted on by Phil Querin
As most taxpayers know by now, the TCJA reduced the available mortgage interest deduction from $1,000,000, to $750,000.[1] Essentially, if one bought a home today and financed $1,000,000 of the purchase price[2] interest on only $750,000 of the loan would be deductible. That’s pretty [...]

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Posted in Miscellany, Real Estate General, Real Estate Laws, Real Estate/Commercial, Realtor Risk Management, Tax Issues | Tagged , ,

Easement Essentials For Oregon Homeowners

Posted on by Phil Querin
Generally. An easement, in its most common and basic sense, is a right of use, e.g. to cross another’s land, to lay utility and sewer lines, to provide or share use for ingress and egress to one or more properties, etc. Most easements are “appurtenant”, that is, the landowner with the [...]

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Posted in Easements, Miscellany, Real Estate General, Realtor Risk Management, Residential Housiing | Tagged , ,

Delicious Cosmic Karma

Posted on by Phil Querin
I do not use my I-Phone while walking, working out, or any activity that requires concentration. Never have and never will. Walking requires as much attention as driving a car, and texting or emailing while walking is an equal invitation to disaster, especially in city crosswalks. But no matter. [...]

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Posted in Miscellany, News You Can Use, Q-Rants | Tagged

Sessions Memo Trumps Cole Memo

Posted on by Phil Querin
It's been said that few things are as good or bad as they are first made out to be. However, the mainstream media, never fearful of hyperbole, usually writes as if the glass is half empty...and getting worse; e.g. selling fear under the guise of rhetorical questions, such as whether Jeff [...]

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Posted in Legislation - Federal, Marijuana, Miscellany, News You Can Use | Tagged

A Kinder, Gentler, CFPB?

Posted on by Phil Querin
It is no secret I have a fair amount of animus toward the CFPB, which, since its creation in 2010, regarded itself as “the new sheriff in town” and proceeded to “push the envelope” in the exercise of its enforcement practices. One of its more offensive practices was its use of “regulation [...]

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Posted in CFPB, Dodd-Frank, Legislation - Federal, Miscellany, News You Can Use, Q-Rants | Tagged ,

Mortgage Debt Relief Act Extended Through 2018 – Finally!

Posted on by Phil Querin
For a brief history of the multiple extensions of the The Mortgage Debt Relief Act of 2007 (“the Act”), go to my June 2017 post here. I predicted at the time that it would be extended through 2018; but I also predicted that news of the extension would be slow in coming, because this law - [...]

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Posted in Broker Risk Management, Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Federal, Miscellany, Real Estate Laws, Realtor Risk Management, Residential Housiing | Tagged , , , , , ,

Q-Rant! From The Lipstick On Pigs Department: Nationstar Becomes “Mr. Cooper”

Posted on by Phil Querin
Prologue:  You can’t make this stuff up!  In an effort to shed its past transgressions, like a snake sheds its skin, Nationstar Mortgage has had a makeover that includes assuming a new name. It is now officially, "Mr. Cooper". This redo, or in golfing parlance, “mulligan”, had been in the [...]

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Posted in Miscellany, Q-Rants, Satire, Servicers | Tagged ,

What An Owner’s Policy Of Title Insurance Doesn’t Cover

Posted on by Phil Querin
Remember, "exceptions" noted in a preliminary title report (“PTR”)[1] or title policy, are the title insurance company's exclusions from coverage. This means, for example, that if a homeowner suffered a loss arising from an easement shown as an exception on the policy, the title company is not [...]

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Posted in Broker Risk Management, Miscellany, Realtor Risk Management, Realtors, Title Insurance | Tagged , ,

After Tax Reform, Are HELOCs Dead?

Posted on by Phil Querin
“Reports Of My Death Have Been Greatly Exaggerated” ~Mark Twain (1835 – 1910) History Revisited. Remember when the Home Equity Line of Credit (aka “HELOC”) was used as an ATM?  Need money for a remodel, new car, kid’s college education, debt consolidation, etc? No problem!  Your [...]

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Posted in Miscellany, News You Can Use, Realtor Risk Management | Tagged , ,

Dante’s Vestibule

Posted on by Phil Querin
[caption id="attachment_7645" align="alignleft" width="150"] Dragon bridge, Ljubljana, Slovenia, Europe.[/caption] “THE VESTIBULE: This Is The First Part Of Hell That You Come Across In Dante's Inferno. It Is Reserved For The Indecisive. The Souls Here In The Vestibule Were Called [...]

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Posted in Q-Rants | Tagged
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