Demand Propels Home Prices Upward 2 days ago June 12, 2018 1,994 Views Evictions Webinar Explores PTFA Implications About Author: David Wharton Print This Post President Donald Trump recently signed Senate Bill 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, into law. Among other changes designed to streamline or modify some elements of the 2010 Dodd-Frank Act, the bill also restores regulations related to the Protecting Tenants at Foreclosure Act (PTFA). That has implications servicers need to consider, and now the Legal League 100 will present a complimentary webinar exploring the topic.Entitled “Evictions: Regulatory and Litigation Update,” this latest installment of the Legal League 100 Webinar Series kicks off at 2 p.m. CT, on Wednesday, June 13. The webinar will feature presentations from representatives of two different League member firms: Jenna Baum, Partner, McCalla Raymer Leibert Pierce, and Gregory Sanda, Associate Attorney, Schiller, Knapp, Lefkowitz & Hertzel, LLP.You can click here to register for the webinar.Originally introduced in 2009, the PTFA “contained protections intended to ensure that tenants facing eviction from a foreclosed property would have adequate time to find alternative housing.” The PTFA expired on December 31, 2014. In the years since, some states have implemented their own versions of the law to continue those protections for tenants. Now, however, the PTFA is once again the law of the land.“In a nutshell, the resurrection of the Protecting Tenants at Foreclosure Act will give certain tenants in foreclosed properties significant additional rights beyond those they may have been provided by state laws,” Richard M. Nielson, Managing Shareholder, Reimer Law Co. told DS News.Nielson cited Kentucky, one of the states in which Reimer Law operates, as an example. Unlike some other states, Kentucky has not introduced their own version of the PTFA in the intervening years since it expired at the Federal level. As such, Nielson explained that the return of the PTFA could significantly increase the amount of time it takes to complete a post-foreclosure eviction. If that range was between 10-30 days before, for example, the reintroduced law could now require as much as 90 days’ notice to “bona fide” tenants before they can be evicted.To read the full text of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, click here. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Home / Daily Dose / Evictions Webinar Explores PTFA Implications Governmental Measures Target Expanded Access to Affordable Housing 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Dodd-Frank Act Evictions Legal League 100 LL100 PTFA s. 2155 Webinars 2018-06-12 David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, Journal, News, Servicing Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Delinquency Rates Hit Pre-Crash Lows Next: The Impact of Fed Rate Hikes on Homeowners Tagged with: Dodd-Frank Act Evictions Legal League 100 LL100 PTFA s. 2155 Webinars The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Subscribe
Despite the major role played by mesoscale eddies in redistributing the energy of the large-scale circulation, our understanding of their dissipation is still incomplete. This study investigates the generation of internal waves by decaying eddies in the North Atlantic western boundary. The eddy presence and decay are measured from the altimetric surface relative vorticity associated with an array of full-depth current meters extending ~100 km offshore at 26.5°N. In addition, internal waves are analysed over a topographic rise from 2-year high-frequency measurements of an Acoustic Doppler Current Profiler (ADCP), which is located 13 km offshore in 600 m deep water. Despite an apparent polarity independence of the eddy decay observed from altimetric data, the flow in the deepest 100 m is enhanced for anticyclones (25.2 cm s−1) compared with cyclones (-4.7 cm s−1). Accordingly, the internal wave field is sensitive to this polarity-dependent deep velocity. This is apparent from the eddy-modulated enhanced dissipation rate, which is obtained from a finescale parameterization and exceeds 10−9 W kg−1 for near-bottom flows greater than 8 cm s−1. The present study underlines the importance of oceanic western boundaries for removing the energy of low-mode westward-propagating eddies to higher-mode internal waves.
The 118-year-old house at 615 Wesley Avenue is considered architecturally and historically significant by the city. By DONALD WITTKOWSKIAn eyesore or historic gem?Unrepairable or a fix-it-upper?A historic home built only 23 years after Ocean City’s founding in 1879 as a seaside resort town by four Methodist ministers awaits its fate amid a fight over whether the deteriorated house should be demolished or saved.The now-empty home is located at 615 Wesley Avenue in the heart of the city’s Historic District, an area that roughly stretches between Third and Eighth streets and Central and Ocean avenues.On Sept. 1, the Ocean City Historic Preservation Commission, which approves demolition, new construction or rehabilitation projects within the district, denied the property owner’s request for permission to tear down the 118-year-old house to make room for a new duplex. Following up on the commission’s action, the city’s administrative officer also refused a demolition permit on Oct. 8.Now the property owner, a group called RJGVB LLC of Shippensburg, Pa., is appealing the denial of the demolition permit to the Ocean City Zoning Board. The zoning board is scheduled to consider the matter at its Dec. 16 meeting, which will be conducted online and by teleconference during the pandemic.The lawyer and an architect representing RJGVB argue that the old house is contaminated by black mold infestation, suffers from major structural defects and has been repeatedly damaged over the years by floodwater.“As the testimony will indicate, the building on the property contains hazardous mold infestation. The building was badly damaged during Superstorm Sandy and no remedial work was ever undertaken,” Avery Teitler, RJGVB’s attorney, wrote in a Nov. 10 letter to the zoning board appealing the denial of the demolition permit.Teitler included reports from an architect and a mold repair expert that describe the home’s deteriorated condition, including the mold contamination. Teitler also said the house has “major structural defects and a single stacked brick foundation that cannot be salvaged.”Overgrown vines and weeds are creeping up the front steps at the old home.George Wray Thomas, an architect representing RJGVB, said the house has been so radically altered and reconstructed over the years that virtually all of its historic features have been lost.“The Mansard roof is the only historical feature remaining and the original slate has been replaced with asphalt shingles,” Thomas wrote in a Jan. 20 letter to the Historic Preservation Commission.The home’s original history dating to 1902 isn’t immediately clear, but over the years it has variously served as the Genevieve Guest House and the Koo-Koo’s Nest bed and breakfast, according to online real estate records.Lately, it has been listed for sale at $999,000. The house includes five bedrooms and 4.5 bathrooms within 5,250 square feet of space, according to real estate records.The house has been classified as a “key building” in the Historic District, the highest ranking for historically significant structures, City Deputy Tax Assessor Mike Brady said.Ideally, the Historic Preservation Commission would like to see someone buy the house and restore it.“There’s so much to that original building that is still there. There’s no reason that building should be torn down. The building has a tremendous amount of street presence,” John Loeper, the commission’s chairman, said in a September interview.Built in the Second French Empire architectural style, the four-story house is part of a block of homes on Wesley Avenue dating to the late 19th and early 20th centuries.Although it is empty now, over the years the home served as the Genevieve Guest House and then the Koo-Koo’s Nest bed and breakfast, according to online real estate records.In its current condition, it has a weather-beaten exterior, long vines creeping up its steps and a battered white fence. Much of the facade is obscured by overgrown trees and shrubbery. The light green paint has long since faded, along with the burgundy trim.Loeper said the old house remains in good overall physical condition despite its deteriorated exterior.“The building stands there in the community in the same way it stood the day it was built,” he said.Michael Calafati, the architect representing the Historic Preservation Commission, believes the home should be saved, rehabilitated and reoccupied. He said in a report to the commission that the house is part of the “valuable streetscape” that is becoming “increasingly rare in the historic district and needs to be preserved.”Despite the changes to the house over the years, “the original building fabric does remain and the building’s original shape, form and massing immediately convey the image of a late 19th century Second French Empire Style home with a Mansard roof,” Calafati is quoted as saying in a Historic Preservation Commission resolution supporting the home’s preservation.According to the resolution, Calafati’s report also addresses the concerns about the hazardous mold infestation. The Historic Preservation Commission and Calafati believe the mold can be removed from the house.Environmental cleanup is a “routine undertaking when restoring old structures for a new life; this includes remediation of pervasive mold,” the resolution says, citing Calafati’s report.