escrow king county: Do You Know Who is Closing Your Bank Owned Sale? - 02/11/11 08:38 AM
Do You Know Who is Closing Your Bank Owned Sale?
More and more out of state escrows are jumping in to close the sales of REO's due to arrangements with the banks.
Be sure that the individual is either:
1)  A licensed escrow officer in Washington State
2)  An escrow closer working for a title company that is licensed in Washington State
3)  An attorney licensed in Washington State
More and more out of state individuals are closing or attempting to handle the closing of REO properties.  Washington State's Department of Financial Institutions has very clear language that requires that the individuals be licensed in Washington State.  Unfortunately, … (4 comments)

escrow king county: Washington State offers first-ever amnesty program! - 02/08/11 06:44 AM
Waives penalties and interest on certain unpaid Washington State business taxes
OLYMPIA - Feb. 1, 2011 - The Department of Revenue's first-ever tax amnesty program begins today.
Qualifying businesses with overdue taxes can apply to pay them without associated penalties and interest from Feb. 1 through April 30.
"Hardworking business owners have faced some very tough economic times over the past several years," Department Director Suzan DelBene said. "This program will help them meet their tax obligations without the additional burden of penalties and interest."
The amnesty program was authorized by the Legislature during its special session last December at the … (0 comments)

escrow king county: Washington States Department of Revenue seeks business imput on tax simplification - 01/28/11 07:08 AM
Washington State's Department of Revenue Seeks Business Input on Tax Simplification
OLYMPIA - Jan. 27, 2011 - Have an idea on how Washington can simplify its tax system to help small businesses? If so, the Department of Revenue would like to hear from you through an online survey at http://dor.wa.gov/TaxSimplification.
The Department is soliciting tax simplification ideas in response to a directive from Governor Chris Gregoire.
The Department is in the process of scheduling meetings with stakeholders to gather information on the burdens and costs of complying with the tax system. The online survey is intended to supplement that process and … (0 comments)

escrow king county: Washington State Business to get $43 million tax break on 2010 taxes - 01/21/11 08:06 AM
Washington businesses to get $43 million tax break on 2010 taxes  OLYMPIA - Washington employers will save an estimated $43 million in federal taxes in 2010 because they hired certain hard-to-place job seekers.
The Work Opportunity Tax Credit provides up to $2,400 in tax savings per worker to businesses that hire veterans, the disabled, ex-inmates, food-stamp recipients and those who receive Supplemental Security Income.
"This tax credit is an incentive for businesses to hire individuals who have a particularly hard time finding work," said Paul Trause, commissioner of the Employment Security Department. "It's a good tool for reducing hiring costs."
To … (0 comments)

escrow king county: What is The Massachusetts Decision? - 01/14/11 08:49 AM
What is The Massachusetts Decision? On Friday the 7th of January, 2011 the Massachusetts Supreme Court ruled against US Bancorp & Wells Fargo and reversed their foreclosures because the banks failed to prove that they owned the mortgages when they foreclosed.In an article in USA Today, The Associated Press goes over the details.This decision raises alot of questions for us all.  I have talked with 4 different title companies in King, Pierce & Snohomish Counties today (1/11/11) and they are all telling me about the same thing:  They have been instructed to carefully examine each title and if certain red flags present themselves, they must have … (2 comments)

escrow king county: What is MERS and How is it Involved in Our Housing Crises? - 01/14/11 08:45 AM
What Is MERS & How Is It Involved In Our Housing Crises? MERS stands for Mortgage Electronic Registration System. In the early 90's I started to hear about the creation of MERS and how it would streamline the payoff processes for mortgage loans.  It certainly was/is the "go to" place on the web to confirm who the servicing agent is for properties as most Assignments of Deeds of Trust are no longer recorded.  Now MERS is being brought up and tested in our courts.  Here is an excellent article written by Ariana Eunjung Cha and Steven Mufson with the Washington Post to explain it … (2 comments)

escrow king county: Washington Service Corps active in MLK Day activities - 01/14/11 03:45 AM
Washington Service Corps active in MLK Day activities
 OLYMPIA - The Washington Service Corps, a branch of the state Employment Security Department, will participate in an array of Martin Luther King Jr. Day events beginning on Jan. 15 in communities across Washington.
 The events include food and clothing drives, environmental restoration projects and special commemorative activities about Martin Luther King Jr.   
 "Dr. King believed everybody could achieve greatness through service," said Paul Trause, commissioner of the Employment Security Department.  "The Washington Service Corps embodies that belief, and it is fitting that we honor his legacy." 
 The Washington Service Corps gives civically … (0 comments)

escrow king county: Washington State's DOR Offers Free Workshops for Holders of Unclaimed Property - 01/13/11 12:25 PM
Department of Revenue Offers Free Workshops for Holders of Unclaimed Property
                OLYMPIA - Jan. 11, 2011-The Department of Revenue is offering free workshops for businesses, local governments and other organizations that must by law report unclaimed property to the state.
                The workshops scheduled for January through December of this year are intended to help businesses understand their reporting obligations, program audit manager Barbie Schneider said.  Organizations can register for a workshop at http://ucp.dor.wa.gov/.
Washington State law requires businesses and other organizations to review their records each year to determine whether they are holding unclaimed property. Typical types of property … (0 comments)

escrow king county: Washington State Economy remains in a holding pattern - 12/15/10 03:21 AM
Employment Security Department NEWS RELEASE - Dec. 14, 2010/#10-063
 Economy remains in a holding pattern
 OLYMPIA - Washington's employment situation saw little change in November.
 The jobless rate held steady at 9.2 percent and job numbers remained flat, with a modest gain of an estimated 100 jobs over the month. (October's rate was revised from 9.1 percent to 9.2 percent after more analysis.)
 "Job growth is in a holding pattern," said Employment Security Commissioner Paul Trause. "It underscores why unemployed workers are having a hard time finding jobs and why we need to extend federal emergency unemployment benefits for awhile … (0 comments)

escrow king county: Some Great Holiday Songs for you - 12/10/10 05:01 AM
Some Great Holiday Songs for youOne of my lifetime favorites is The River by Joni Mitchell.  It may be argued that this is not a Christmas song, but this time of year doesn't feel complete without it!  I found another gem that brought tears to my eyes when viewing.  Have you heard of a FlashMob?  You will like this. 
 Enjoy!!                 
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escrow king county: Tacoma Side Sewer Requirements Change Again - 12/10/10 04:56 AM
Tacoma Side Sewer Requirements Change Again Kari Prussen and Rod Rossi from the City of Tacoma came to speak to the South Sound Escrow Association last month and they explained how seriously old the systems are in Tacoma and why these pipes need to be replaced.  However, with the economy as it is, they have removed the requirement for the side sewer inspection and instead they will provide informational brochures explaining why these inspections are a good idea.In addition, the City of Tacoma can finance up to $10,000.00 at a very low interest rate to replace side sewers.
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escrow king county: Will the Home Interest Deduction Soon be a Thing of the Past? - 12/10/10 04:50 AM
Will the Home Interest Deduction Soon be a Thing of the Past? One thing we can all agree on is that the ability to deduct interest on your tax return is in part what motivates individuals to purchase real estate.  This castle may be a bit frivolous of an example of home ownership, but your home is your castle.Last Thursday the National Association of Realtors put out a "Call to Action" to prevent the Deficit Commission from passing their plan that includes a significant change or removal of this deduction.  On Friday the 3rd, the plan was endorsed by 11 of the 18 … (0 comments)

escrow king county: Free Microsoft Online Courses Available - 10/05/10 04:19 AM
FOR IMMEDIATE RELEASE - Sept. 30, 2010

Free Microsoft online courses available
OLYMPIA - Employment Security Commissioner Karen Lee announced today that more than 1,000 different online Microsoft computer courses are now available for free to Washington residents who want to improve their work skills.
Employment Security has signed a unique contract with Microsoft to make online courses available to people who register with the state's WorkSource career-development system. 
"Microsoft has made our state the computer software capital of the world, and together we want to give workers in our state the opportunity to excel," said Lee.  "When you look … (0 comments)

escrow king county: When Obtaining Written Authorizations on Short Sales, Don't Forget Escrow - 10/02/10 06:29 AM
When Obtaining Written Authorizations on Short Sales, Don't Forget Escrow
Yesterday I was working on getting my final HUD approved by GMAC on a sale scheduled to record today.  The "final" HUD was faxed over for their review 4 days ago, but they will not talk with escrow without the customers written authorization. 
The sellers signed the authorization yesterday (they didn't return the authorization that was previously mailed to them) and it was faxed to GMAC. 
GMAC informed me that they have a 24 - 48 hour period before the authorization is posted to the system. 
After a few phone calls this morning … (4 comments)

escrow king county: Its a beautiful afternoon here in Federal Way! - 02/09/10 10:01 AM
One of the delights of this afternoon was dropping off of a Fed X at Mail, Copy & More, located in Dash Point Village in Federal Way.  As I waiting in line, the Gent on the far left was mailing a package of Valentine's Day candy to his Granddaughter.  He insisted that it was his wifes idea and not his, but I couldn't help but smile at the wonderful sentiment.
Federal Way has many different attributes, such as a very active Chamber of Commerce but what really makes it stand apart are the very friendly people in the community.
I am … (0 comments)