Arthur Czaja's (aczaja10) Blog

Has anyone had the same frustration when dealing with a buyer of a foreclosed property (a/k/a REO property). The sob story goes like this: 1) Buyer signs an addendum to the contract without knowing what he or she is signing up for. 2) All the important contract terms are changed in the addendum, ...

WHY SHOULD I BUY A FORECLOSED PROPERTY?   Many people might think that purchasing a foreclosed property (i.e. a property that a lender has acquired through the foreclosure process) is a sure fire way to get a great deal in real estate.   Buying a bank owned property, however, is not for the weak ...

There have been many new developments in the uncertain world of the mortgage default industry.  Certain large national lenders have sent internal memos regarding new policies and practices that they are going to implement in the approval (or maybe I should say disapproval) of short sale transacti...

I am trying to put together a seminar/networking event for attorneys, real estate agents, mortgage brokers, and title insurance companies in or around Rosemont, Illinois near the end of October 2008.  I was trying to see how much interest there would be for an event like this. Please leave a comm...

Some days I get bored and try to see what others are posting not only here, but all over the internet  about short sales, mortgage modifications, and other workout options like a deed in lieu of foreclosure.  I find it pretty comical that nobody gives any real advice.  Each company, indiviudual, ...

"I don't know much about a short sale transaction so I am going to leave those transactions to a Realtor with more experience."  I have heard a few of my Realtor friends utter these words when short sale transactions first came in vogue.  Each time I heard this statement I became quite upset.  He...

I do a large number of short sale transactions.  It seems that I get a new file each day.  But, as a lawyer, one of the options that I will have to discuss with each client is a deed in lieu of foreclosure.  It is a creature with many names.  Some call it a "cash for keys agreement" and I have ev...

Why are there so many confused contractor's out there?  In the last month, I have advised many contractor clients who have gone to one of these services that places liens against properties without giving the contractor proper advice.  What I cannot understand is why my clients went to these serv...

I cannot tell you how many calls I get each day from people who want to do a short sale transaction.  I am amazed at how many people will shop their transaction from attorney to attorney.  I am equally amazed at how much misinformation each caller has about the consequences of a short sale transa...