U.S. Lawsuit vs. National Association of Realtors Online Listing Policy Is Being Settled (5-27-08) - 05/28/08 05:07 PM
The U.S. antitrust lawsuit filed against the National Association of Realtors in 2005 and parties involved have reached a proposed settlement as of May 27, 2008. The settlement calls for the adoption of a new online listings policy. The lawsuit had challenged the NAR policies governing the online sharing and display … (3 comments)
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US Congress and Senate Should Pass Permanent Federal Housing Administration Reform Legislation - 05/27/08 05:53 PM
Our U.S. Congress and Senate Should Pass Permanent Federal Housing Administration Reform Legislation.The time is now for the US Congress and Senate to pass permanent Federal Housing Administration reform legislation if we are to give American homebuyers and homeowners the peace of mind they need.While new loan limits were recently enacted as … (0 comments)
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Vote YES on CA Proposition 98 in June 2008 Election - 05/24/08 01:03 PM
Vote YES on CA Proposition 98 in June 2008 Election
Vote YES on Proposition 98 and NO on Proposition 99 in the June, 2008, election.Proposition 98 will limit the ability of local governments to use eminent domain to seize private property and give it to other private entities. Proposition 98's … (0 comments)
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Are We Starting to Experience Some Home Sales Stability in OC, California? - 05/22/08 05:54 PM
Some people say we are starting to experience some home sales stability.
DataQuick Information Systems released its report on May 19, 2008, and said sales units in OC, California, totaled 2,166 in April, 2008, the first time they were above 2,000 homes a month since the market crisis started.During April, 2008, buying … (5 comments)
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How To Manage Your HELOC Loan With Rising Rates? - 05/22/08 12:58 AM
Most HELOC loans (home equity line of credit) are indexed to the bank prime loan rate. When the prime rate changes, the rate on your HELOC will change also.When prime increases 100 basis points (one full percent) the home equity line of credit borrower pays more in interest costs.If you make … (1 comments)
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Property Owners & Buyers Should Oppose CA State-mandated Energy Audits At Time Of Sale - 05/15/08 10:30 AM
Property Owners, Sellers, Buyers, and Realtors, should fight against any proposed California state-mandated audit law requiring time-of-sale energy efficiency audits.CA Assembly bill 2678 was introduced in Feb. 2008, has been passed out of committee. This bill would require California Energy Commission to develop requirements for time-of-sale energy efficiency audits for residential … (0 comments)
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Banks & Lenders Are Taking Less Than What's Owed At Trustee Sales After Foreclosure - 05/14/08 08:23 PM
It's interesting that in Orange County, California, during April, 2008, buyers took foreclosure homes off the bank and lender hands at trustee sales for 21.5% less than the amount owed. One year ago during April, 2007, the banks and lenders weren't so interested in discounting at trustee sales. Perhaps the banks … (0 comments)
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It's Good that NAR Will Consider New Rules for Listing & Advertising of Short Sales - 05/08/08 10:45 AM
The good news during April 2008 from the National Assoc. of Realtors is that it is considering new rules for listing and advertising of short sale and distressed properties.
It's about time.
Rules must be made and followed regarding listing of these properties with the MLS services. The rules should bind owners and sellers, listing … (2 comments)
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What To Do If You Are Upside Down and Unable to Make Payment on Notes Secured by First and Second Deeds of Trust on Your Home - 05/08/08 01:04 AM
You might owe more on your notes secured by a first deed of trust and on the note secured by the second on your home.
What do you do?
Here in California we have the ONE ACTION RULE, the law preventing lenders from both foreclosing and suing you on the note. If the lender chooses the … (1 comments)
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Is A Home Buyer Equity Sharing Arrangement a Good Thing in This Market? -- Part One - 05/03/08 04:02 PM
A man contacted us a week ago about his predicament. He and his wife had entered into an EQUITY SHARING AGREEMENT with a mortgage broker during 2006 to buy a home in South OC, California. This family made payments to the mortgage company as rent on the agreement. The mortgage company … (3 comments)
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Reinstatement of Your Home Loan or Mortgage After Default? - 05/03/08 01:31 AM
You don't have to be a bum or a deadbeat to get into a foreclosure position with your home loan. It can be as simple as missing some days of work or having a mortgage payment late. You are in over your head with your lender, which is now threatening you with … (1 comments)
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