Finally passing on September 30th the Senate Bill set to change the name of the game made it through the door. Senate Bill 931 is set to take effect on January 1, 2011. This highly anticipated law is set to disallow a seller’s first trust deed lender from obtaining a deficiency judgment against the...
Posts Tagged ‘ California ’
Wachovia: Wells Fargo advising that if a home is in California don’t wait till the last minute.
In a recent conversation with a Wachovia representative we were advised that their rule of thumb for properties in California is to no longer postpone when within 5 business days of a foreclosure sale. They advised that there is a foreclosure law set in the state of California prohibiting them to foreclose if a...
California to expect $10000 First Time Home Buyer Tax Credit Extended
So, where to start. The Governator is back at it again and this time he’s trying to make some changes before he’s out of office and some of those things are going to impact you. The Governor’s proposal to extend the $10,000 first time home buyer tax credit has been passed by California Legislature which means...
California doesn’t need to tell you twice and it could cost you!
Millions of homeowners across the United states are getting onto arrangements with their lenders. Many other states may have the same or similar laws here so listen in as this could affect you and your clients. Commonly, in the state of California, the foreclosure process starts with a Notice of Default being filed against...
One, Bank Failure, Two, Bank Failure, Three, Bank Failure, 2009 Leaves a big dent.
A short time ago we were going to report to you about the 100th bank failure in ’09 but as the pixels we typed out were just starting to settle the numbers just jumped again. We decided to ride it out and wait even past January (not only due to the changes we experienced...
Post-Foreclosure Frequently asked questions.
Here at MLReport we receive messages all the time asking about what to do when they have gone through a foreclosure. We get a lot of frequently asked questions and by no mean do we have time to answer all of them in just one post but we will do our part to start...
Senate Bill 94: California Bans upfront fees on loan mods; Even for Attornys
In California Monday in an emergency procedure Governor Shwartzenegger signed into place Senate Bill 94. This bill took in effect right away ceasing all further loan modifications, even with attorneys, up until 2013. How many attorneys do you know that work for free? Well for the same reason you will see a lot of...
News: Foreclosure plague: No cure yet
CNN posted an article the other day that mentioned the number of foreclosure on the rise. It seems like it was would all be relative as the market is always in a constant upward and downward struggle. It is a nice article though so we feel that it would be great to share with...
Union Bank changes look. Impresses no one but themselves.
Recently Union Bank changed its look and its name. Previously known as the “Union Bank of California” they revamped during the midst of all the bank failures but assures its customers that they are still the same great bank. Their new look coming after years of looking like Wells Fargo and now looking to...