Landlord Newsletter Mid February 2008

Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month!
John Nuzzolese
John@theLPA.com

There is a lot of misconception out there about the foreclosure freeze and who it really helps, what it takes to qualify, and how it works. My goal is to demystify it a bit. I have listed some bullet points to help:

The freeze is temporary. It freezes legal efforts to remove delinquent borrowers for 30 days while lenders and borrowers work together on a payment plan. This is a joint effort by 6 of the nation's largest lenders One big difference between this and other options discussed in the past is that it is available to people regardless of their loan types. Even if you do NOT have an ARM, it may help. (Some people have Pay Option ARMs or fixed rates that are high, too). (ARMS have the highest rate of delinquency though) The borrower does not need to be subprime to qualify as with other programs like the Bush plan. Any kind of mortgage is okay.

When does the homeowner qualify?

Once they are 90 days or more behind in their payments....

click for Dani's full article...

The Landlord Protection Agency® is proud to introduce John Reno, Esq., a highly experienced Landlord - Tenant attorney based on Long Island, NY.

If you have a landlord tenant problem you'd like to ask a question about, please feel free to e-mail me your question.

Dear Mr. Reno:
My former tenants moved to Florida from Connecticut owing me a few months rent and leaving the apartment a mess. I was able to find their new location by doing a "people search" online. Is there a way to recover the past due rent amounts from them even though I did not get a court judgment against them? There are a number of websites out there claiming that they can recover past due rents around the country and report deadbeats to the credit reporting agencies, are these legitimate? Thanks in advance for your response.
Regards,
Holly, NY

A:
You can't collect without a judgment. You can refer matter to a collection agency which can send threatening letters, but that's all they can do without a judgment.

Dear Mr. Reno:
I have a lease with tenant that has lapsed into a month to month for over a year. One of the lease provisions is that he clean up the lot by a certain date long passed. The rent has been paid up to now. In general, what are the ramifications of leases that have gone month to month, long term, and could the clean up requirement be made retroactive before eviction? Thanks. Ernie Millen, Salem OR

A:
The general rule of thumb is that when the lease expires, the same terms continue except on a month to month bases. Thus (unless OR has some special rule) the clean up condition continues in effect.

The Armchair Real Estate Investor

Everything you need to know to profit from real estate you can learn online including finding valuable properties, buyers, sellers, financing, closing solutions and more.
Robert Irwin is the bestselling author of more than 50 books on real estate. His career in the real estate industry encompasses more than three decades of experience as real estate broker, landlord, and consultant to lenders, agents, and investors.

Bob Irwin is a great guy, and a very knowledgeable real estate expert. I am honored to have The Landlord Protection Agency featured in his latest book. - John Nuzzolese

What do I do if....
the Tenant Argues About Deductions From the Security Deposit?

The purpose of the Security Settlement Challenge Crusher Letter is to quickly squash any unfounded tenant arguments about deductions from the security deposit refund.

Even though the Security Settlement Statement has already itemized the deductions in detail for the tenant, some people will still be determined to fight for what they feel is their money.

If you've held back deposit money from former tenants, you have probably been through some uncomfortable confrontations...

click for full article...

Printer Friendly Version of this Article

Do you have what you need for a Criminal Background & Credit Check?

The fact that the tenant has nothing to hide and is willing to release credit and criminal (if any) history to you shows good faith and cooperation in the screening process.

This form can be used in addition to the LPA Rental Application or independently for the purpose of tenant screening authorization.

Limited Time- FREE DOWNLOAD The Criminal Background Authorization & Release Form

FREE HTML Code for your Internet Ad's Pre-Screening Prospect Card

The code below is for the following chart:

"I know it’s the 28th of the month, but I’m waiting for my husband to give me his half for the rent." I asked the wife to at least pay what she can on time, and she said "Oh no, I wouldn’t do that…making partial payments is bad business." - Sandra, Palm Beach, FL

"My boyfriend just became my fiancee! He proposed to me last week!" - After saying congratulations, I asked again for the rent. She told me she won't be paying me anymore rent. She and her "sweety" have to save for a larger place. I told her I'll see her in court. - Lisa D., GA

"We can't pay the rent because the address on our check is wrong." Meanwhile they told they mailed out the rent 3 weeks ago - Jennifer W.

"I don't want to give you a check if I don't have the money. I can't tell you why I don't have the rent. It's personal." - JC, BVR Management, NY

"People with goals succeed because they know where they are going... It's as simple as that." - Earl Nightingale

"You think you know someone? You don't really know them until they've rented from you." - John@theLPA.com

"If you do not conquer self, you will be conquered by self." - Napoleon Hill

"Fail to prepare; Prepare to fail." - Anonymous

"How much did your last tenant problem cost you?"
- John Nuzzolese

1. Be logged in with your LPA username & password
   
2. On the "Main Menu" (top right), click on "Your Orders" (right below your name)
   
3. The beginning date of your membership will be listed to the left of your membership order # in this format: YYYYMMDD
   

Earn a 10% commission on all orders placed with The Landlord Protection Agency by customers that you refer to us!

SPECIAL BONUS
for New 2 -5 year LPA Members

This offer also applies to 2-5 year Membership Renewals!
Check out our low renewal prices
*Your Membership Expired? No Problem!

***********************************************




***********************************************

The LPA's

Free Bonus for all LPA Members.... Click for more information.


***********************************************

Interested in past LPA Newsletters?
Feel free to view the LPA Newsletter Archive