Trust This. Proposed Section 8 Deletion
00 Trust This. Posts đŻ Trust This: Targeting Section 8 [...]
By Joseph E. Seagle, Esq.
đ Happy Friday! Today is National Lost đ§Ś Sock Memorial Day for all of us who have a stash of lonely socks in the back of our drawers., just waiting for their mate to return.
âď¸Situation Awareness: Valerie Edgecombe has joined MyLandTrustee.com and Aspirelegal.com as our new Managing Attorney for Legal Operations and Services Valerie has over 20 years of experience in managing and growing legal teams and processes. She will oversee the day-to-day operations of lawyers, land trust administrators, paralegals, legal assistants, and support crew as we continue to grow.
The Trump administration has proposed the elimination of Section 8 housing vouchers and a 40% cut to HUD rental assistance, according to NPR and internal budget drafts obtained by HousingWire. The shift would replace direct federal rental aid with block grants to states, capping support for able-bodied adults at two years and reducing funding for long-term housing solutions.
Why it matters: For real estate investors, brokers, and lenders, the proposal is a tectonic shift in housing policy. Section 8 has long served as a stabilizing force in distressed and low-income housing markets, offering reliable rental income streams backed by the federal government. Its removal introduces uncertainty and volatility.
SecThe big picture:
Inventory stress: With demand far outpacing affordable supply, the loss of Section 8 could lead to surges in unpaid rents, vacancy rates, and evictions â especially in markets where low-income tenants dominate Class C portfolios.
Shifting liabilities: States would be expected to craft their own housing aid programs, but history shows that such block grants often fall short. For real estate pros, this means navigating a patchwork of local policies with varied tenant protections and eligibility rules.
Homelessness surge: Industry analysts warn the rollback could trigger a spike in homelessness, putting pressure on municipal resources â and investor portfolios near urban cores and transitional neighborhoods.
Between the lines: While the administration frames the cuts as necessary to curb misuse of funds, citing past abuses on âskate parks and concert plazas,â housing advocates counter that these programs are already underfunded â with only 1 in 4 eligible households currently receiving aid.
For whom itâs a signal:
Buy-and-hold landlords relying on voucher programs should reassess risk exposure and explore diversified leasing models.
Developers using Low-Income Housing Tax Credits (LIHTC) may face funding gaps if local subsidies canât fill federal shoes.
Realtors in overheated markets could see listings sit longer as tenant purchasing power plummets.
Yes, but: With bipartisan opposition mounting, including a new bill in Congress aiming to expand Section 8, the proposal faces an uphill battle â but signals the administrationâs broader pivot away from federally backed housing support.
đ The Bottom Line: If the safety net is pulled, real estate pros must brace for demand shocks, policy fragmentation, and shifting ROI calculations.
In a significant move to balance safety with financial feasibility, Florida lawmakers have passed House Bill 913, introducing reforms to the stateâs condominium safety laws. These changes aim to provide relief to condo owners facing mounting costs from stringent safety mandates enacted after the 2021 Surfside collapse, which claimed 98 lives.
Why It Matters: The original 2022 legislation required âmilestone inspectionsâ and âstructural integrity reserve studiesâ for older, multi-story buildings, leading to substantial assessments for condo owners. Many associations, striving to meet the December 31, 2024, deadline, imposed large fees, causing financial distress among residents, particularly retirees and those on fixed incomes.
Key Revisions in HB 913
Extended Deadlines: The deadline for structural integrity reserve studies has been pushed back by one year, providing associations with additional time to comply.
Financial Flexibility: Associations can now utilize lines of credit or loans to fund reserves, subject to majority owner approval.
Temporary Reserve Funding Pause: A two-year pause on reserve contributions is permitted following a milestone inspection, allowing associations to prioritize immediate repairs.
Clarified Applicability: The law now explicitly applies to buildings with three or more habitable stories, resolving previous ambiguities.
Implications for Real Estate Professionals: For Realtors, mortgage brokers, investors, and title insurance agents, these reforms are poised to stabilize the condominium market. The financial relief measures may prevent a surge in distressed sales and maintain property values. Moreover, the clarified guidelines can streamline transactions and reduce legal uncertainties.
Voices from the Legislature
âWithout moving one step backwards on safety, this bill provides options, flexibility, and relief so condo owners and associations cna prioritize the most important repairs first.â AP
âWe have tried to reach that delicate balance between the safety of our constituents as well as understanding the incredible financial impact that sometimes these particular bills that we passed have.â AP
Looking Ahead: Governor Ron DeSantis is expected to sign HB 913 into law, marking a pivotal step in addressing the challenges faced by Floridaâs condominium communities. Real estate professionals should stay informed about these changes to effectively guide clients through the evolving landscape.
This week, I sat down with Sandra Edmond, the Queen of Tax DeedsÂŽ, where we discussed not only tax deeds but also the importance of personal branding.
Four charts that show why Floridaâs housing market is struggling. HousingWire
Floridaâs COVID-Era Housing Boom is Over with biggest price declines in a decade. NY Post
Property tax cuts could upend the Florida housing market. Cotality
The immigration push is making it harder for foreigners to buy U.S. homes, hurting Miami in particular. Bloomberg
Fannie Mae to sell non-performing loan portfolio Dodd-Frank Report
Borrowers sue Vanderbilt Mortgage for alleged violations in private suit after CFPB drops its suit. RESPA News (subscription)
Economic slowdown chills U.S. housing market. MPA Mag
Experts warn that China could inflict serious harm on U.S. housing market by selling off mortgage-backed securities. MPA Mag
Springâs homebuying season is lackluster so far due to high costs and economic instability. Redfin
The Fed holds its rates steady, noting rising uncertainty and stagflation risks. CNBC
The roses in the front yard were bursting out last weekend in Asheville.
Real estate professionals and entrepreneurs often fall into the trap of managing people by to-do lists. But true leadership doesnât start with checklistsâit starts with vision. Antoine de Saint-ExupĂŠry said it best: âIf you want to build a ship, donât drum up the men to gather wood⌠Instead, teach them to yearn for the vast and endless sea.â
The big idea: Whether youâre syndicating an investment deal, launching a new development, or growing a brokerage, your team isnât motivated by lumber or logistics. Theyâre moved by mission. A clear, compelling vision connects their everyday tasks to a bigger purpose.
âĄď¸ Paint the bigger picture. Donât just say, âWe need to close on this multifamily by the 30th.â Say, âWeâre creating generational wealth and revitalizing neighborhoods.â
âĄď¸ Link tasks to legacy. Help your partners see how their rolesâunderwriting, raising capital, showing propertiesâdrive real impact.
âĄď¸ Make it emotional. People donât hustle for spreadsheets. They show up early and stay late when they believe in the destination.
Zoom out: Think about your first big win in real estate. It wasnât just the cash flow or the equityâit was the feeling of freedom, control, possibility. Thatâs the âvast and endless seaâ your team needs to see.
The bottom line: Great leaders donât micromanage the shipyard. They inspire their crew to chase the horizon. When you lead with vision, the wood gets gathered and the ship gets builtâbecause everyone believes in where itâs going.
Overwhelmed by biased news? Cut through the clutter and get straight facts with your daily 1440 digest. From politics to sports, join millions who start their day informed.
We hope you found this helpful â any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.
Was this email forwarded to you? Subscribe here.
Have an idea or issue to share? Email us.
Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.
Our mailing address: PO Box 547945, Orlando, FL 32854-7945
Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804
Be on the lookout for our next issue! đ
By Joseph E. Seagle, Esq.
đ Happy Friday! Today is National Lost đ§Ś Sock Memorial Day for all of us who have a stash of lonely socks in the back of our drawers., just waiting for their mate to return.
âď¸Situation Awareness: Valerie Edgecombe has joined MyLandTrustee.com and Aspirelegal.com as our new Managing Attorney for Legal Operations and Services Valerie has over 20 years of experience in managing and growing legal teams and processes. She will oversee the day-to-day operations of lawyers, land trust administrators, paralegals, legal assistants, and support crew as we continue to grow.
The Trump administration has proposed the elimination of Section 8 housing vouchers and a 40% cut to HUD rental assistance, according to NPR and internal budget drafts obtained by HousingWire. The shift would replace direct federal rental aid with block grants to states, capping support for able-bodied adults at two years and reducing funding for long-term housing solutions.
Why it matters: For real estate investors, brokers, and lenders, the proposal is a tectonic shift in housing policy. Section 8 has long served as a stabilizing force in distressed and low-income housing markets, offering reliable rental income streams backed by the federal government. Its removal introduces uncertainty and volatility.
SecThe big picture:
Inventory stress: With demand far outpacing affordable supply, the loss of Section 8 could lead to surges in unpaid rents, vacancy rates, and evictions â especially in markets where low-income tenants dominate Class C portfolios.
Shifting liabilities: States would be expected to craft their own housing aid programs, but history shows that such block grants often fall short. For real estate pros, this means navigating a patchwork of local policies with varied tenant protections and eligibility rules.
Homelessness surge: Industry analysts warn the rollback could trigger a spike in homelessness, putting pressure on municipal resources â and investor portfolios near urban cores and transitional neighborhoods.
Between the lines: While the administration frames the cuts as necessary to curb misuse of funds, citing past abuses on âskate parks and concert plazas,â housing advocates counter that these programs are already underfunded â with only 1 in 4 eligible households currently receiving aid.
For whom itâs a signal:
Buy-and-hold landlords relying on voucher programs should reassess risk exposure and explore diversified leasing models.
Developers using Low-Income Housing Tax Credits (LIHTC) may face funding gaps if local subsidies canât fill federal shoes.
Realtors in overheated markets could see listings sit longer as tenant purchasing power plummets.
Yes, but: With bipartisan opposition mounting, including a new bill in Congress aiming to expand Section 8, the proposal faces an uphill battle â but signals the administrationâs broader pivot away from federally backed housing support.
đ The Bottom Line: If the safety net is pulled, real estate pros must brace for demand shocks, policy fragmentation, and shifting ROI calculations.
In a significant move to balance safety with financial feasibility, Florida lawmakers have passed House Bill 913, introducing reforms to the stateâs condominium safety laws. These changes aim to provide relief to condo owners facing mounting costs from stringent safety mandates enacted after the 2021 Surfside collapse, which claimed 98 lives.
Why It Matters: The original 2022 legislation required âmilestone inspectionsâ and âstructural integrity reserve studiesâ for older, multi-story buildings, leading to substantial assessments for condo owners. Many associations, striving to meet the December 31, 2024, deadline, imposed large fees, causing financial distress among residents, particularly retirees and those on fixed incomes.
Key Revisions in HB 913
Extended Deadlines: The deadline for structural integrity reserve studies has been pushed back by one year, providing associations with additional time to comply.
Financial Flexibility: Associations can now utilize lines of credit or loans to fund reserves, subject to majority owner approval.
Temporary Reserve Funding Pause: A two-year pause on reserve contributions is permitted following a milestone inspection, allowing associations to prioritize immediate repairs.
Clarified Applicability: The law now explicitly applies to buildings with three or more habitable stories, resolving previous ambiguities.
Implications for Real Estate Professionals: For Realtors, mortgage brokers, investors, and title insurance agents, these reforms are poised to stabilize the condominium market. The financial relief measures may prevent a surge in distressed sales and maintain property values. Moreover, the clarified guidelines can streamline transactions and reduce legal uncertainties.
Voices from the Legislature
âWithout moving one step backwards on safety, this bill provides options, flexibility, and relief so condo owners and associations cna prioritize the most important repairs first.â AP
âWe have tried to reach that delicate balance between the safety of our constituents as well as understanding the incredible financial impact that sometimes these particular bills that we passed have.â AP
Looking Ahead: Governor Ron DeSantis is expected to sign HB 913 into law, marking a pivotal step in addressing the challenges faced by Floridaâs condominium communities. Real estate professionals should stay informed about these changes to effectively guide clients through the evolving landscape.
This week, I sat down with Sandra Edmond, the Queen of Tax DeedsÂŽ, where we discussed not only tax deeds but also the importance of personal branding.
Four charts that show why Floridaâs housing market is struggling. HousingWire
Floridaâs COVID-Era Housing Boom is Over with biggest price declines in a decade. NY Post
Property tax cuts could upend the Florida housing market. Cotality
The immigration push is making it harder for foreigners to buy U.S. homes, hurting Miami in particular. Bloomberg
Fannie Mae to sell non-performing loan portfolio Dodd-Frank Report
Borrowers sue Vanderbilt Mortgage for alleged violations in private suit after CFPB drops its suit. RESPA News (subscription)
Economic slowdown chills U.S. housing market. MPA Mag
Experts warn that China could inflict serious harm on U.S. housing market by selling off mortgage-backed securities. MPA Mag
Springâs homebuying season is lackluster so far due to high costs and economic instability. Redfin
The Fed holds its rates steady, noting rising uncertainty and stagflation risks. CNBC
The roses in the front yard were bursting out last weekend in Asheville.
Real estate professionals and entrepreneurs often fall into the trap of managing people by to-do lists. But true leadership doesnât start with checklistsâit starts with vision. Antoine de Saint-ExupĂŠry said it best: âIf you want to build a ship, donât drum up the men to gather wood⌠Instead, teach them to yearn for the vast and endless sea.â
The big idea: Whether youâre syndicating an investment deal, launching a new development, or growing a brokerage, your team isnât motivated by lumber or logistics. Theyâre moved by mission. A clear, compelling vision connects their everyday tasks to a bigger purpose.
âĄď¸ Paint the bigger picture. Donât just say, âWe need to close on this multifamily by the 30th.â Say, âWeâre creating generational wealth and revitalizing neighborhoods.â
âĄď¸ Link tasks to legacy. Help your partners see how their rolesâunderwriting, raising capital, showing propertiesâdrive real impact.
âĄď¸ Make it emotional. People donât hustle for spreadsheets. They show up early and stay late when they believe in the destination.
Zoom out: Think about your first big win in real estate. It wasnât just the cash flow or the equityâit was the feeling of freedom, control, possibility. Thatâs the âvast and endless seaâ your team needs to see.
The bottom line: Great leaders donât micromanage the shipyard. They inspire their crew to chase the horizon. When you lead with vision, the wood gets gathered and the ship gets builtâbecause everyone believes in where itâs going.
Overwhelmed by biased news? Cut through the clutter and get straight facts with your daily 1440 digest. From politics to sports, join millions who start their day informed.
We hope you found this helpful â any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.
Was this email forwarded to you? Subscribe here.
Have an idea or issue to share? Email us.
Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.
Our mailing address: PO Box 547945, Orlando, FL 32854-7945
Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804
Be on the lookout for our next issue! đ
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Climate risks and text messaging clarity đ Happy Friday! Today [...]
âď¸Situation Awareness: In case you havenât heard, Aspire Legal Solutions has reactivated its estate planning practice area after a decade hiatus.
Recent analyses underscore a pressing concern for real estate professionals: climate change is poised to significantly impact property values across the United States. A study by First Street Foundation projects a potential decline of approximately $1.47 trillion in U.S. home values by 2055 due to escalating climate risks.
Driving Factors:
Rising Insurance Costs: As extreme weather events become more frequent, insurance premiums are projected to rise by nearly 30% over the next three decades. This increase may discourage buyers from high-risk areas, resulting in decreased demand and lower property values.
Shifting Buyer Preferences: Homebuyers are increasingly taking climate risks into account when making purchasing decisions, often steering clear of regions susceptible to natural disasters. This trend is evident in areas such as Fresno County, California, and parts of New Jersey, where rising insurance costs and declining populations are noticeable.
Implications for Real Estate Professionals:
Property Valuations: The anticipated devaluation of properties in high-risk areas necessitates reevaluating current appraisal practices.
Client Advisory: Professionals must proactively inform clients about potential climate-related risks and the long-term implications for property investments.
Market Adaptation: To remain relevant in the market, it will be crucial to stay abreast of emerging trends and integrate climate risk assessments into business strategies.
Strategic Recommendations:
Risk Assessment Integration: Incorporate comprehensive climate risk evaluations into property assessments to provide clients with informed guidance.
Investment in Resilience: Advocate for and invest in resilient infrastructure and sustainable building practices to mitigate potential climate impacts.
Client Education: Develop resources to educate clients on the importance of considering climate risks in their real estate decisions.
Acknowledging and addressing these emerging challenges can help real estate professionals better navigate the evolving landscape and safeguard their clientsâ investments.
Anyone who uses texting as a marketing channel should be aware that, in a significant legal development, the U.S. Court of Appeals for the Eleventh Circuit has vacated the Federal Communications Commissionâs (FCC) âOne-to-Oneâ consent rule under the Telephone Consumer Protection Act (TCPA). This decision, delivered on January 24, 2025, came just before the rule was set to take effect on January 27, 2025.
Background: The TCPA, enacted in 1991, was designed to protect consumers from unsolicited telemarketing calls and messages. Over the years, the FCC has implemented various rules to strengthen these protections. In December 2023, the FCC introduced the âOne-to-Oneâ consent rule, aiming to close the âlead generator loophole.â This rule mandated that businesses obtain prior express written consent from consumers for each individual seller and prohibited the use of a single consent form to authorize communications from multiple entities.
Legal Challenge: The Insurance Marketing Coalition Limited (IMC) challenged the FCCâs rule, arguing that it exceeded the agencyâs statutory authority and conflicted with the TCPAâs definition of âprior express consent.â The Eleventh Circuit agreed, stating that the FCCâs rule imposed restrictions that were inconsistent with the ordinary meaning of the term.
Implications for Real Estate Professionals and Entrepreneurs: This ruling clarifies the rules for REALTORSÂŽ and business owners who use texting as a marketing tool. The vacatur of the âOne-to-Oneâ consent rule means that businesses are not required to obtain separate consents for each seller when contacting consumers.
However, itâs essential to note that the general requirements of the TCPA still apply.
Businesses must continue to secure prior express written consent before sending automated marketing texts or making robocalls to consumers.
Non-compliance can lead to significant legal and financial repercussions.
Best Practices Moving Forward:
Review Consent Procedures: Ensure that your current methods for obtaining consumer consent are compliant with the TCPAâs standards.
Stay Informed: Regulatory landscapes can shift. Consult with legal counsel or compliance experts regularly to stay updated on any changes that may affect your marketing strategies.
Maintain Clear Records: Document all consents received from consumers meticulously. This documentation can be crucial in defending against potential legal challenges.
While the recent court decision offers some relief, itâs imperative for real estate and entrepreneurial professionals to remain vigilant. Adhering to established telemarketing laws and regulations safeguards your business from legal risks and fosters trust and credibility with your clientele.
This week, on an âAsk Joe Anythingâ episode of the Trust This podcast, I explain the differences between agreements for deeds and mortgages, plus when and why one may be better to use than the other.
The recently-shuttered CFPB drops suit against Rocket Homes that had alleged illegal kickbacks to real estate agents and brokers in exchange for steering buyers to the mortgage company. The Detroit News
CFPB dismisses lawsuit against Vanderbilt Mortgage and Finance, a Berkshire Hathaway company, that had alleged the lender made loans to consumers who couldnât afford them so they would buy homes from Berkshire Hatthawayâs Clayton Homes division. Reuters
CFPB drops suit against Capital One accused of cheating consumers out of $2 billion for confusing savings accounts. NBC News
CFPB drops suit against an illegal tip-based payday lender that advertised 0% interest while charging 400%. NCLC and Payments Dive
Trump scraps Biden-era fair housing law. Politico
White House releases plan to lay off half of HUDâs employees. ABC News
Cuts to Section 8 vouchers and FHA loans are looming. Bloomberg (gift link) and Bigger Pockets
Shelters, crisis hotlines, and veteran housing groups fearful that $3.6 billion in allocated funds wonât arrive in time amid HUD cuts. Bloomberg (gift link)
U.S. unemployment claims rise to 242,000 this week, the highest in three months. CBS News
How to prepare for your digital afterlife. New York Times (gift link)
Rufous turned 15 yesterday. You can tell heâs very excited about it.
A common myth about entrepreneurs is that they are wild risk-takers, fearlessly plunging into the unknown with little regard for potential pitfalls. Garrett Gunderson challenges this misconception with his âSacred Cowâ principle, asserting that true entrepreneurs are not reckless gamblers but skilled risk managers. Rather than embracing uncertainty blindly, successful entrepreneurs anticipate risks and take deliberate steps to minimize them. Their success is built not on blind courage but on careful strategy, education, and preparation.
Understanding and Minimizing Risk
Entrepreneurs do not take unnecessary risksâthey identify, assess, and mitigate them before making a move. This mindset differentiates a successful entrepreneur from a reckless speculator. Before launching a business or making a major investment, entrepreneurs conduct market research, analyze financials, and create contingency plans. They evaluate potential challenges and plan accordingly, ensuring that they are not caught off guard by foreseeable problems.
The Role of Education and Growth
One of the most powerful tools for risk mitigation is education. Entrepreneurs continuously invest in learningâwhether through formal education, mentorship, or hands-on experience. Understanding financial statements, market trends, tax strategies, and legal structures allows them to make informed decisions rather than relying on luck. Continuous growth and adaptation keep them ahead of changing economic landscapes, allowing them to adjust before potential threats become real problems.
The Power of Legal and Financial Safeguards
Entrepreneurs also rely on strong financial and legal protections to minimize risk. Proper business structuring, contracts, and asset protection strategies shield them from liabilities that could otherwise destroy their ventures.
Insurance plays a crucial role as well, ensuring that unexpected disasters do not derail their progress. Whether it is business liability insurance, disability insurance, key person insurance, or professional liability coverage, these tools provide a safety net that allows entrepreneurs to take calculated actions with confidence.
The Entrepreneurial Mindset
True entrepreneurship is about strategic thinking, not reckless gambling. The most successful business owners understand that risk cannot be avoided entirely, but it can be managed, minimized, and mitigated. By embracing education, leveraging legal and financial tools, and planning ahead, entrepreneurs maximize their chances of long-term success. They do not bet on luckâthey stack the odds in their favor.
We hope you found this helpful â any feedback is appreciated and can be shared by hitting reply or using the feedback feature below.
Was this email forwarded to you? Subscribe here.
Have an idea or issue to share? Email us.
Connect with us using your preferred social media and website links for MyLandTrustee and Aspire Legal Solutions.
Our mailing address: PO Box 547945, Orlando, FL 32854-7945
Our physical address: 1901 West Colonial Drive, First Floor, Orlando, FL 32804
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