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Land Contract or Rent-to-Own: Which Is Right for You?
This question is from Greg in Livonia, who says, “I’m considering purchasing a home with my fiance. The seller is offering a rent-to-own program. Is there a difference between a rent-to-own program and a land contract? Now, we don’t qualify for a traditional...
Protect Yourself and Your Project From Mortgage Fraud
This question comes from Veronica of Commerce, MI, who writes: “We took a construction loan out to purchase a lot and build a 2500 sq. ft. home. The process has not been easy. However, now the builder is coming to us and asking us for an additional $80,000 on the...
Foreclosure Notice: What To Do Next
This question concerns a notice of mortgage foreclosure for a commercial property. Just so you know, commercial property, like residential property, can also be foreclosed upon. The question comes from Scott S. of Shelby Township, who owns a restaurant and the...
What You Need To Know About Free Legal Forms
This question comes from Sarah Milner, who I had met last week at a real estate investor function. Sarah asks if there is anything wrong with sharing legal forms between friends and colleagues; after all, they're free!! Free Real Estate Forms There is not a day that...
Mortgage Dispute Resolution
Today I am answering a question from a homeowner in Clarkston concerning a mortgage dispute. He's seeking a "mortgage resolution" to his problem. He writes: "I received a call from a new mortgage company stating that they now own my mortgage. It is for an old second...
Michigan Legal Forms: Reducing Legal Risks Associated With Free, Online Legal Forms
A question I was asked: “As an investor in real estate, wouldn’t I save money using legal forms off the internet instead of hiring a real estate attorney?” The internet makes it easy to go online and download a legal form. Need a lease? Go online. Need a deed....
Legal Issues Encountered When Inheriting a House
Here's a question related to inheriting real estate. It comes from Marlene from Shelby Twp, who writes: “I want to sell a home that I inherited from my mother. I owned the home together with my mother before she passed. I know this because we created the deed together...
The Differences Between Using A Real Estate Attorney vs. A Title Company
What Does a Title Company Do? As a real estate attorney in Michigan, I’m often asked what the difference is between using a real estate attorney and a title company in a real estate transaction. Title companies ensure that a legal title to a property or piece of real...
Mortgage Disputes: Time Limitations Borrowers Must Know
As a Michigan real estate and finance attorney for almost thirty years now, I’ve dealt with mortgage and financial disputes between borrowers and lenders. Years ago, the lending environment was very easy to maneuver and there were very few, if any, federal regulations...
Why You Want an Attorney to Draft Your Contract
It never ceases to amaze me when someone engaging in a real estate transaction or a loan agreement prefers to write up their own documents without the benefit of a licensed and experienced real estate attorney. Instead, they'll buy a building, buy a home, lease retail...
Meet David Soble
DAVID SOBLE
Real Estate & Finance Attorney