Banks
MCAR Legal Update with C.A.R’s Gov Hutchinson
Gov Hutchinson, Assistant General Counsel for the California Association of REALTORS® was the key-note speaker for last week’s MCAR Legal Update.
Gov presented on numerous legal topics affecting agents in the field and briefed the membership on new laws impacting transactions, homeownership and general real estate practices. For those unable to attend, a video of the [...]
Making Home Affordable Plan
On March 4, 2009, the Obama Administration released detailed guidelines for homeowners to help them determine if they qualify for the Administration’s new Making Home Affordable plan. This is a follow up to the Administration’s announcement on February 18 outlining their plan to stem the current tide of foreclosures and stabilize the nation’s housing [...]
The Foreclosure Timeline
Starting September 8, 2008, California has a special foreclosure timeline for loans originated between 2003 and 2007, which are secured by owner-occupied residences. Loans involved in short sales are likely to be owner-occupied loans from the years 2003 to 2007, which was the heyday for sub-prime lending. The special foreclosure timeline does not apply [...]
Conforming Loan Limit Adjustment
Before this year, one conforming loan limit applied to the entire country. The amount was $417,000 for a single family unit (since 2006). When Congress allowed for the increase in February of this year, it was done so based on 125% of an areas median home price. The floor was set to $417,000 and the [...]
Money in the Bank
I have been hearing more and more conversations lately of people struggling with a perception that finding and obtaining financing for real estate purchases is nearly impossible these days. Before giving up hope, I urge you to take the time to research the financing options available to you, despite what others may be saying [...]
Records…What Records?
The County, Cities and Water Management have failed to accurately keep track of permits. I have spoken with several escrow officers to see if they would be agreeable to record documents and permits for properties in order to have a permanent, accurate record. As Realtors, we so often encounter problems where a governmental [...]
