David Saks is a musician, retired real estate broker, and long-time ActiveRain member.
David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet.
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ARCHIVED BLOG POSTS
2014
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#2769 If a borrower is facing nonjudicial foreclosure the borrower is entitled to the right of being able to cure the default on the loan by paying off the delinquincy and reinstating the loan before the trustee's sale is held. This right is known as the equitable right of redemption. Is this fac...
06/19/2014
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#2768 When a mortgagee gives a mortgagor a document that declares that the debt has been paid in full this document is commonly referred to as a deed of complete release and revision. Is this malarky true or false ? Please take your time on this tough question. The solution is posted below the wi...
06/19/2014
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#2767 When a foreclosure sale is held following judicial foreclosure an execution or Sheriff's sale is held. Once the sale has been completed and the foreclosed property sold the former owner or the mortgagor has a certain or specified period of time in which to redeem the property from foreclosu...
06/19/2014
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#2766 Anytime a buyer works out an arrangement that will allow the seller to assume the mortgage rather than a traditional lender this type of arrangement is known as a partnership. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False The type of arra...
06/19/2014
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#2765 When we talk about a budget mortgage we're talking about a mortgage that allows for the greatest discount level possible given the size of the loan and other variables. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False A budget mortgage is a ...
06/18/2014
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#2764 A developer has seven parcels of land and found out that he needs some more money to finish the project. In order to secure a loan and the additional resources needed to finish the project the developer offers all seven parcels of land as collateral for the loan. This type of loan secure...
06/18/2014
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#2763 If a provision is included in a mortgage that will permit the lender to declare an entire loan balance due and payable if the property is sold this provision is commonly referred to as a prepayment penalty. Is this true or false ? Take your time. The solution is posted below the wildlife ph...
06/18/2014
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#2762 If there is a provision in a mortgage that allows the lender to declare the entire loan balance due upon default of the loan by the borrower this provision is known as an exculpatory clause. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. Fal...
06/18/2014
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#2761 When one is considering an installment note they also have to consider the fact that only the interest is being paid if this type of note has been assumed by the buyer. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False Installment notes incl...
06/18/2014
Co-Defendant in Loomis Wealth Solutions Mortgage Fraud Case Pleads Guilty U.S. Attorney’s Office June 17, 2014 Eastern District of California (916) 554-2700 SACRAMENTO, CA—Joseph Gekko, 45, of Yorba Linda, pleaded guilty today to three counts of wire fraud in connection with a mortgage fraud sch...
06/18/2014