This article discusses certain judges’ reluctance in granting deficiency judgments on residential foreclosures. Particularly, the effects categorical refusals to grant such judgments are considered. Potential effects on the lending market and available residential loans are identified addressed. Ultimately, a lack of deficiency judgments may lead to fewer loan products being available to homeowners and/or an increase in interest rates on full-recourse loans. In addition, the need for further research in the area is highlighted, particularly as it relates to the current economic situation. [More]

As the economy is getting worse homeowners residing in common interest communities are struggling to pay their monthly assessment fees. As a result, many property owners are unable to pay their fees and are accumulating monthly debts. Homeowners associations are faced with difficult choices of how to keep the community alive but also keep members in their homes. In many states, homeowners associations are pursuing non-judicial foreclosure against property owners who have not paid their assessment fees. Property owners are outraged because they are at risk for losing their primary residence and largest investment. Legislatures in different states have reacted by enacting laws that limit the power of homeowners associations to pursue foreclosure. First, this article will explore the law governing common interest communities and homeowners associations. Second, this article will address and criticize various state responses to this problem. Finally, this article will propose a solution that attempts to address the concerns of the homeowners associations and their members. [More]

I. INTRODUCTION

The nationwide credit crisis has made the “American Dream” unattainable to most citizens. With lenders instituting rigorous requirements making qualifying for mortgages nearly impossible. The record breaking foreclosures and unemployment have added fuel to the fire, putting pressure on homeowners to reduce their asking prices. Many owners have been forced to sell at far below market value, accepting a large loss on properties that when purchased had high potential for profitability. However, the resurgence of lease-option agreements, especially in areas where foreclosure rates are high, has sparked hope for many sellers and buyers. [1] [More]

I. Introduction

A key battle over America’s healthcare future is being fought in one of the most unlikeliest of places: Urbana, Illinois. Scheduled for argument in front of the Illinois Supreme Court in mid-2009, Provena Covenant Medical Center v. Department of Revenue is poised to set the bar regarding the tax exempt status of nonprofit hospitals.[1] Nonprofit hospitals, such as Provena, account for near sixty percent of the hospitals in the U.S., while the others are either for-profit or government-owned.[2] Oddly, these nonprofit hospitals are actually faring better than their for-profit counterparts. Seventy-seven percent of the 2033 U.S. nonprofit hospitals are “in the black”, while sixty-one percent of for-profit hospitals are profitable.[3] One of the reasons for such high success rates is the ability of non-profit hospitals to receive significant tax exemptions. The Congressional Budget Office reported in 2006 that nonprofit hospitals receive an estimated $12.6 billion in annual tax exemptions on top of the $32 billion in federal, state and local subsidies the hospital industry receives each year.[4] Given such figures, it is not surprising that many hospitals do not make up for the exemptions they receive with the charitable services they provide. This article delves into the federal income tax code applications for nonprofit hospitals and resulting litigation.

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I. Background

Detroit has been working hard to revive the city and bring residential growth to the downtown area. [1] Millions of dollars have gone into renovating historic buildings, creating new public transportation, reviving the riverfront and building residential lofts in the Central Business District area. [2] Detroit wants to prove that, “the growing population can support and sustain retail and grocery development,” for its current and future residents. [3] New casinos and stadiums have also enhanced the city’s cultural atmosphere while attracting a wave of young professionals. [4] Issues will arise, however, when the city tries to achieve this vision of a “better Detroit” by imposing ordinances and regulations on businesses that it deems problematic to their ideal. In particular, the city of Detroit has targeted the adult entertainment business as an industry they would like to see zoned out.

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Despite Americans’ preference towards the suburb in the later half of the twentieth century, our nation is currently poised to regret the very expansionist zest that drew it away from the urban core. With the fluctuating price of gas and the limited public transportation alternatives, suburban Americans are forced to devote an ever-growing portion of their income and time to surviving their daily commutes. [2] The issue confronting policymakers today is whether to realign current residential settlement patterns or to vastly improve public transportation within suburbs. This article discusses some of the possible means available for accomplishing the latter. [More]

Recent news concerning the NBA's New Jersey Nets imminent move to Brooklyn has met with protest from residents of the neighborhood where the proposed arena is to be built. In particular, a community group composed of neighborhood organizations and individuals who live near the proposed development site called Develop Don't Destroy Brooklyn is leading the court battle against the proposed Barclays Arena and Atlantic Yards development that would bring new life to the open-air storage facility for buses and rail cars, but will also require the destruction of currently occupied residential and commercial spaces. [1] The Atlantic Yards development is a $4 billion, eight million square feet project spanning 22 acres along Brooklyn's Atlantic Avenue which includes a basketball arena for the New Jersey Nets' move to Brooklyn, office buildings, thousands of apartments and condominiums (a significant portion of which will be "affordable" as opposed to market priced), as well as parks, overall dramatically altering the Brooklyn landscape with 16 total skyscrapers planned. [2] On-going litigation in the case of Develop Don't Destroy Brooklyn v. Empire State Development Corporation [3] pits the community mobilization group against the high-powered developers who are backed by both New York Governor George Pataki and New York City Mayor Michael Bloomberg. [4] The issues in debate concern environmental inspections, public safety concerns, as well as disqualification of counsel arguments. [5] However, it seems likely that despite this litigation, the Atlantic Yards development will go forward with the planned opening of the arena in time for the 2009-2010 NBA season. [6] [More]

Green building is gaining momentum as a construction trend with widespread benefits, from environmental efficiency and resource conservation to human health and lifestyle improvement.  Several government entities have reacted to the green building movement, creating national and local standards... [More]

I. Introduction Free speech is a right guaranteed by the First Amendment, but is it possible to give up this right if you move into a neighborhood governed by a homeowners’ association? The New Jersey Supreme Court had to decide this issue when a group of residents subject to the rules of their homeowners’ association were restricted from posting signs on their lawns or the common areas of the community. [1] Although the ruling is limited to application in New Jersey, homeowners’ associations everywhere were watching the case closely to see whether it would have an impact on how their state dealt with such constitutional challenges to their rules and regulations. [2] This article will explore the outcome of the New Jersey case as well as its implications on homeowners’ associations elsewhere. [More]

With real estate foreclosures at near record levels, more and more renters are forced to move prematurely because their landlords are unable to stay out of foreclosure. Foreclosed rental properties are quite common. For example, 44% of the repossessed properties sold in California last August were not owner-occupied. [1] After foreclosure, banks are not contractually obligated to let tenants occupy the premises and in most cases, tenants receive very little notice of the need to vacate. [2] In response, the Illinois legislature recently passed a law limiting a bank’s ability to force a tenant out after the property has been foreclosed. [3] [More]