Happy Friday! Things are definitely picking up around here! We’ve been having so much fun at Johnston, Moore & Thompson that I hardly noticed that April is almost over. Of course, it was easy to forget that it was late April over the past week with all of the cool and blustery weather we were having. I imagine the kite flyers out there (you know who you are) had a great time over the past few days. As May beckons, I can’t help but be reminded of how exciting this time of year was for me when I was young. May meant that summer vacation was right around the corner. The homework, books and dirty looks were soon going to be a distant memory. The anticipation that I felt, as is often the case, was generally more exciting than the reality. My summers growing up were definitely eventful and memorable, but they were never as completely liberating as I had planned. For one, my parents apparently never got the memo regarding summer vacation. Household chores and early bedtimes were still a daily routine at the Williams house. Still, every year, when May would roll around, I would be seduced by the faint scent of freedom in the air and was ready for summer again. Chores, bedtimes and all. I hope I get to see you in May!
Have you ever wondered what happens to folks who rent a house from a landlord who is foreclosed upon? Recently, I asked myself that very question when trying to help one of my clients. I was not looking forward to trying to uncover the answer I expected to be inundated with statutory schemes rife with broad, ambiguous language and countless narrow exceptions. To my surprise, the answer is rather simple. Generally speaking, The Protecting Tenants at Foreclosure Act of 2009, which has recently been extended through 2014 provides that when the tenant holds a valid written lease on residential property before a foreclosure, the purchaser at foreclosure takes the property subject to the rights of that tenant. If the lease is for a specific amount of time, the tenant may continue to occupy the residence through the end of the lease term. One major exception to this general rule may be applied when the new owner at the foreclosure auction intends to use the property as their principal residence. In that case, the lease may be terminated if the new owner provides 90 days notice. Similarly, if there is no written lease or if the tenancy is at-will, the new owner only has to provide 90 day notice to the tenant. So, now you know.
Where We Live
Guess who is in the lending business…click here to find out. I will give you a hint: you may or may not get free origination with the purchase of a hot dog.
The most recent remodeling index is flat. Click here for the story. Maybe that means more people are considering moving up instead of building out.
I read an interesting article about a tax sale where nobody bid. Did all of the bidders just have paddle performance anxiety? Click here to find out.
The second mortgage has come pack to the party a little sadder but wiser. Click here to see how Hester plans on avoiding another A.
There is plenty to do with the kids and grandkids this weekend. The circus has come to town. Also, click here for a write up on Panoply.
The Best Medicine
When the examination was complete, he said, “Now, Doc, I can take it. Tell me in plain English what is wrong with me.”
“Well, in plain English,” the doctor replied, “you’re just lazy.”
“Okay,” said the man. “Now give me the medical term so I can tell my wife”.
Video of the Week
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