Topics: Real Estate - 19 results


JPMorgan Chase Pays $18.3M for Misleading Mortgage Info

JPMorgan Chase & Co. has agreed to pay $18.3 million to settle a lawsuit accusing the lender of misleading homeowners about interest rates on adjustable rate mortgages. The lawsuit, filed in 2007, alleged that JPMorgan Chase and lending units of Bear Stearns misled consumers by failing to tell them that their loan’s principal would increase if they made the minimum monthly payment. The class action was filed in 2007, and J.P. Morgan acquired the loans when it took over EMC …

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Posted 12 months ago in Elder Law Foreclosure Real Estate by Janet Raasch  
Reverse Mortgages Can Be a Trap for Elderly Homeowners

For many retired homeowners, a reverse mortgage sounds like a good idea. Today’s retirees are less likely to have a pension or enough money saved for retirement. A reverse mortgage can turn your home into a source of income. The loans can be used for any purpose, but are often used for home modifications, repairs, medical expenses or home care that elderly people might not be able to afford without the loan.   What Is a Reverse Mortgage? Reverse mortgages …

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Posted 12 months ago in Jury Awards Real Estate by Sylvia Hsieh  
Jury Rejects Homeowners’ $10M Lawsuit Over ‘Moldy Mansion’

A couple who bought a moldy mansion and sued the builder and sellers for $10 million for construction defects say they are disappointed by a jury’s verdict awarding only $79,000 in damages. Leo and Kathryn Vecellio purchased the 25,0000 square foot Palm Beach mansion plus a guesthouse for $40 million in 2008. After they moved in, they discovered water intrusion and other problems. The Vecellios claimed they were forced to spend more than $11 million to get rid of the …

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Avoiding Legal Disasters with Vacation Rentals

Why stay in a hotel when you’re on vacation in a beautiful city like Portland, Ore., or Barcelona, Spain? Nowadays, many travelers think this way, renting vacation homes from owners and swapping apartments. But don’t let an unexpected legal dispute spoil your annual time off. Smart travelers know the ropes in the new “share economy” where they go online to sites like AirBnB.com and VRBO.com (vacation rental by owner) where homes and apartments are available in 34,000 cities. Many others …

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Posted 1 year ago in Real Estate by Aaron Kase  
Developers Liable for Flooding of Florida Homes

Developers can be liable for faulty infrastructure that causes water damage to houses, even if that infrastructure isn’t directly attached to the dwellings, the Florida Supreme Court ruled recently. If a company builds roads, retention ponds, drainage systems, pipes or other things that fail to properly contain and disperse water in a way that negatively impacts houses in a subdivision, the homeowners have a cause of action under the “warranty of habitability,” the court said. “Habitability of a home is …

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