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Many are familiar with the concept of a mortgage, where an individual makes monthly payments to a lender. However, for those who qualify, there is another type of mortgage called a “reverse mortgage” (RM), where the lender makes payments to the individual. The homeowner, in effect, borrows against the equity in the home, and interest … Continue reading “Converting a Home Into a Source of Income: Reverse Mortgages”

In states that provide a homestead exemption for debtors who have filed or are contemplating filing for bankruptcy, a debtor’s personal residence will be shielded to some extent from the reach of creditors seeking payment, to allow the debtor to keep her home. In the few states that offer an unlimited homestead exemption, creditors will … Continue reading “The Implications of a Mortgage on the Homestead Exemption”

Due to the nature of landlord-tenant relationships, it is not surprising that they can often become contentious. To prevent or address problems between landlords and their tenants, the federal government and many states have enacted laws which provide housing regulations. For example, the federal Fair Housing Act governs many rental situations. Also, the National Conference … Continue reading “Factors to Consider When Renting”

In an effort to address the threat posed by the tens of thousands of abandoned and uncontrolled hazardous waste sites in the United States, Congress enacted the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) on December 11, 1980. Also known as the Superfund law, CERCLA created a tax on the chemical and petroleum industries … Continue reading “The Superfund System to Clean Up Hazardous Waste Sites”

Landlord-tenant laws govern the rights and liabilities of parties in a landlord-tenant relationship, as well as the transaction that takes place when a commercial or residential property is rented or leased. Landlord-tenant laws involve several different areas of the law, including legal principles of real property, contracts and remedies. Who is a Landlord and Who … Continue reading “Security Deposits and Landlord-Tenant Law”

Indiana legislation that went into effect July 1, 2009, requires that funds in excess of $10,000 received by a title company or settlement agent for a real estate closing to be wire transferred. This legislation now prohibits any settlement agent, including Young, Lind, Endres & Kraft, from accepting cashier’s or certified checks for amounts of … Continue reading “Good Funds”