Homeowners and the storm - exercise caution about insurance claims

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The New York Times Your Money column written by Ron Lieber has a cautionary report on reasons for homeowners to be wary until they have the insurance check in hand.

There is a sort of honeymoon period that occurs after a big storm like Hurricane Sandy, when insurance executives appear on the local news offering reassuring words. Their brightly painted vans pull into residential neighborhoods amid the standing water and debris. Everyone is hopeful. Handshakes and back-patting all around.

That period is about to end. Prices for roofers and construction materials will rise, disadvantageous parsing of policy language will commence and gangs of class-action lawyers will round up aggrieved clients who still have months of homelessness ahead of them. Many claims will take years to settle.

It happens every time, and so it will with this storm. That’s not to say that a majority of people with insurance claims won’t be satisfied with the check they receive or won’t get one quickly.

There are things to watch that people should watch out for:

• The insurance adjuster who doesn't work for you.
• Categorizing the damage from flood rather than wind.
• Replacement versus repair
• Compliance with building codes

Read the full story.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow AT vested.com

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FDIC goes after IndyMac bankers

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The LA Times ran the story this week about the FDIC seeking damages against three officers of the now-defunct IndyMac Bank.

"When the Federal Deposit Insurance Corp. seized Pasadena housing lender IndyMac Bank four years ago, the scene resembled the grim bank failures of the 1930s.

"Panicked depositors, seeking to reclaim their money, lined up outside branches of the big savings and loan, whose collapse under the weight of soured mortgage and construction loans helped usher in the financial crisis and biggest economic downturn since the Great Depression.

"As those memories fade, the government's effort to reclaim losses stemming from the financial debacle grinds on, with one IndyMac case winding up this week before a federal jury in Los Angeles.

"The civil lawsuit seeks damages from three former IndyMac executives, accusing them of negligence in approving 23 loans that developers and home builders never repaid, costing the bank almost $170 million.

"The executives approved ill-advised loans because they earned bonuses for beefing up lending to developers and builders, said Patrick J. Richard, a lawyer representing the FDIC."

And what do the defendants say?

"This case," defense attorney Damian J. Martinez said in his opening statement Wednesday, "is about the government evaluating these loans with 20/20 hindsight after the greatest recession we've had since the Depression in the 1930s."

It's a story worth noting because the FDIC, read here "us taxpayers," will never recoup the kind of money it has cost to rescue IndyMac.  But the folks on trial should be thankful they don't live in China, crooked executives get a bullet in the head.

Read the full LA Times story here.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow AT vested.com

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Houses look like their owners?

Realty Times has a quiz for you - What Home Am I?  First-time homebuyers, pay attention!

I always believed that dogs and owners begin to resemble each other, but a house?

Are you looking to get in the housing market? It's a great time to buy, with historically low interest rates and affordability rates.

Where does one start? Are you a country mouse or a city mouse? Your own personality and desires should be your guide. There are homeowners who avoid yard maintenance at all costs. Others love the privacy of a country property.

 Choosing the right home for your particular needs and temperament is crucial in today's market, where staying in a home long term is the best way to build equity.

Want to find your match? Read the full story.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow AT vested.com

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Treetop Development LLC buys in Belleville, New Jersey

Vested Land Services LLC provided the title insurance for Treetop Development LLC’s purchase of a residential garden apartment complex in Belleville, New Jersey. The 404 unit complex located on Belleville Avenue will be known as Branch Brook Gardens.

Treetop Development, LLC is a multi-faceted real estate company headquartered in Teaneck, New Jersey that has earned a strong reputation for renovating and redeveloping value-driven, market rate and subsidized residential buildings in key  urban  centers throughout the New York Metropolitan area. Its philosophy is to identify emerging neighborhoods and create signature residential  properties that  redefine  and move communities.  http://www.treetopdev.com/

Attorney for Treetop Development LLC was Steven D. Fleissig, Esq. of Greenberg Traurig, LLP’s Florham Park, New Jersey office, www.gtlaw.com.

Vested Land Services LLC is proud to have been a part of this transaction.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow AT vested.com

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Treetop Development buys apartments in Plainfield NJ

Vested Land Services LLC provided the title insurance for Treetop Development LLC’s purchase of a residential garden apartment complex in Plainfield, New Jersey. The 108 unit complex located on East Front Street will be returning to its former name of Netherwoods Village.

Treetop Development, LLC is a multi-faceted  real estate company headquartered in Teaneck, New Jersey that has earned a strong reputation for renovating and redeveloping value-driven, market rate and subsidized residential buildings in key  urban  centers throughout the New York Metropolitan area. Its philosophy is to identify emerging neighborhoods and create signature residential  properties that  redefine  and move communities.  http://www.treetopdev.com/

Attorney for Treetop Development LLC was Steven D. Fleissig, Esq. of Greenberg Traurig, LLP’s Florham Park, New Jersey office, www.gtlaw.com.

Vested Land Services LLC is proud to have been a part of this transaction.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow AT vested.com

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