What is the one thing that every agent should have but they hope they’ll never need? It’s their Errors & Omissions insurance (E&O). The E&O providers have compiled a list of the top 10 claims made against real estate agents. And the #1 claim is Fraud. This month’s Article will be the first in a […]
For the past three years, I’ve been regularly advising upside-down property owners on the challenges, risks, and strategies of dealing with their lenders and upside down loans. Over 2,000 borrowers and their Realtors have consulted with us to determine what they should do. As our nation’s economy slowly recovers, some solutions have improved such as […]
We are often asked the question: can a loan be modified after a Chapter 7 Bankruptcy Discharge? While we are not Bankruptcy attorneys, after much research and inquiry wih BK attorneys, the simple answer appears to be “Yes” … if both the lender and borrower agree to do so. However, the more important questions that […]
California has laws that regulate whether a lender would have recourse against a borrower if they were not paid in full. The most well known of these concern foreclosure. Code of Civil Procedure (CCP) Sec 580b bars recourse on purchase money loans for personal residence and CCP 580d bars recourse after a Trustee Sale foreclosure. […]
In February, 2012, California Attorney General, Kamala Harris, sponsored a series of Bills into the State Legislature designed to protect homeowners from unfair practices by banks and mortgage companies and to help consumers and communities cope with the state’s urgent mortgage and foreclosure crisis. The legislation builds on the $18 billion of benefits which California […]
This economic recession has been forcing budget cuts and business closings everywhere. One place that these cuts are being felt especially hard is in the legal justice system where access to the Courts is getting harder then ever. For several years, the Sacramento Courts, along with the rest of the State, have been struggling to […]
In response to rapidly deteriorating financial market conditions in the late summer and early fall of 2008, Congress enacted the Emergency Economic Stabilization Act. The centerpiece of the Act was the Troubled Asset Relief Program (TARP), which required the Secretary of the Treasury to ‘implement a plan that seeks to maximize assistance for homeowners and […]