PLG Legal Blog

Why You Need a Title Insurance Lawyer

If you’re getting ready to buy a property in Florida, there’s a lot to keep track of. While it would be nice to think you could offer a price on a home, it would be accepted and everything would be clear sailing throughout the entire transaction, that’s hardly ever the case. After all, buying a […]

A home purchase is arguably one of the biggest purchases

A home purchase is arguably one of the biggest purchases most people will make during their lives. Having an attorney with experience in handling real estate transactions is the most effective way to avoid the pitfalls and complications that can eventually lead to disastrous consequences, including the loss of the home. At Palma Law Group, […]

There are two types of title insurance, Owner’s Policies / Mortgagee Policies

Owner’s Policies/Mortgagee Policies There are two types of title insurance; owner’s title insurance (an Owner’s Policy), which protects the buyer, and lender title insurance (a Mortgagee Policy), which protects the lender. In a typical residential transaction, the title insurance often required by the mortgage lender will not safeguard the rights and interests of the homebuyer; […]

New Rules for Closing Residential Transactions

If a buyer of a residential listing applies for a mortgage loan on or after August 1, 2015, new federal regulations will apply to the loan transaction.  Generally, these new regulations will apply to all transactions involving a new residential mortgage loan. Cash and commercial transactions, even if a residence is involved, are not affected. […]

New Forms Replace GFE and HUD-1 Settlement Statement

After August 1, 2015 buyers applying for a mortgage loan will receive a Loan Estimate from the lender instead of the current Good Faith Estimate (GFE). Buyers will generally receive the Loan Estimate three days after applying for their loan. The other new form, the Closing Disclosure, will include all of the information currently found […]