Backtalk Requested: Bot Update

A new family of Zombie Bots have shown up recently. They profess to enjoy my posts so much that they offer to translate them into German and “link back”. Of course, when you try to send an email to the sender it comes right back as undeliverable.

Mortgage Foreclosure: Allegheny County Common Pleas Court Will Announce the Inception of its Much-Awaited Owner-occupied Residential Mortgage Foreclosure Mediation Program Soon.

The Allegheny County Common Pleas Court is working out the last technical details for implementation of a much anticipated mortgage foreclosure conciliation program. After a meeting this week with Allegheny County officials, President Judge Joseph James expects to sign the order of court launching the program on Friday.

Real Estate:The Coming Disclosure Boom: Who is the Real Beneficiary?

So who benefits from all of these disclosures? If the disclosures are made fully and correctly, it is primarily the party giving the disclosure. Later, when a problem arises, the buyer/borrower cannot claim that he/she was not informed of the risk. The more comprehensive the disclosure, the more effective it usually is for this purpose. One page grows to two, then five. One disclosure is replaced by two, then five. Signatures are required on every one of them. The obvious purpose is to prove that the consumer actually laid eyes on the disclosure document, however fleetingly. Some even require that the signatory certify that he or she has read and even understood it. Some documents require initials on every page. With a keystroke in a check box, the preparer of a two hundred page loan package can require initials on almost every one of the pages. I have encountered borrowers at loan closings who were physically unable to sign and initial all of the required documents in the loan package.

Back Talk Requested: The Invasion of the Zombie Bots.

The most scary looking of these includes a page of code. No blogger would ever post such nonsense. Unlike bots set loose for the purpose of bringing readers to the sender’s site, these are sent anonymously. The only purpose they serve is to be a pest.

SEC v. Cuban: Is it Personal?

The Wall Street Journal Law Blog contains a post which suggests that a former email correspondant with Dallas Mavericks’ owner Mark Cuban (who many Pittsburghers claim as a native son) who works at the Securities and Exchange Commission held a grudge that may have been responsible for the SEC insider trading suit.

Real Estate: The Risky Business of Buying Foreclosure Properties.

The regulators are back — and they are just getting started. That means Fannie Mae, as well as Treasury, OCC, OTS, etc. Don’t forget the Pennsylvania Department of Banking. They are all going to be trying to prevent the subprime mortgage crisis from happening again by writing acres and acres of new regulations.

Real Estate Tax Exemption Available for Needy Disabled Vets.

If the Commission in fact, determined that Vanderhoef was in need of an exemption from the payment of real estate taxes then it was incumbent on the Assessment Board to grant the exemption of the payment of real estate taxes, without exception. . . .The exemption of one acre was completely arbitrary and had no correlation to the individualized need of Vanderhoef which was a decision of the Commission. Consequently, the trial court’s acceptance of the Assessment Board’s exemption of only one acre was cleary an error of law which must be reversed.”

In Harm’s Way: the not-so-nice side of internet advertising.

However, if you went to the Obama pages, at least during the campaign, you would have discovered a McCain campaign ad on the right hand side of the page. However, the ad doesn’t say positive things about McCain, it contains negative comments about Obama. Yes, they call them “attack ads.”

Back Talk Requested:Well Done, Mac!

Then the bottom fell out. A Republican ticket headed by George Washington could not have survived in the most turbulent month that the world securities markets have ever seen. Yet, in the midst of it all, McCain rallied during the last debate and re-charged his campaign with the Joe the Plumber phenomenon and harping on Obama’s expressed intention to “spread the wealth.” Once again he had found a fresh line of attack and was making headway when he ran out of time.

Mortgage Foreclosure: Change in the Air?

Foreclosure moratoria are being seriously discussed in California, where Governor Schwarzenegger is reported to be proposing a 90 day moratorium and in Colorado where a moratorium after filing for negotiation and mediation has been discussed by public officials. New Jersey Governor Corzine is also proposing mediation in that State. In Florida, a nonprofit corporation named Earth Angels United has been engaged to administer a mortgage foreclosure mediation program in Seminole County.

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Welcome

CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

Pittsburgh Legal Back Talk

Legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus.

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