Behind the Banks’ Verbiage on Loan Modifications

Maxine Waters’ Futile Attempts to Speak to Banks about Loan Modifications for her Constituents: “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will [...]

Congressman Admits: Banks Own U.S. Congress

In 2009 when Senator Dick Durbin [D IL] unequiviocally admitted that the Banks “own” Congress. ….
Perhaps it is time for change in U.S. Congress. Its time for Americans re-take control of their Congress. Thomas Jefferson:”I believe that banking institutions are more dangerous to our liberties than standing armies”

5 Tips for Deciphering Your Home Loan Good-faith Estimate

Evaluate the “tradeoffs” on a loan
In the new “tradeoff table,” you can ask lenders to provide details on the tradeoffs you can make in choosing among home loans. If you’d like the same loan with lower settlement charges, how will the interest rate change? If you’d like a lower interest rate, how much will your settlement charges increase?

It’s Still a Good Time to Buy a Home

…the biggest question in this economy is whether to buy now, or wait until the housing market prices hit the “bottom”.
Economist Emily Trinks believes waiting to buy later can result in costing you more money due to higher interest rates, nothwithstanding a lower purchase price.

New Law: No Deficiency Judgments on 1st Mortgages Allowed in Short Sales

Effective January 1, 2011, the short sale of a dwelling (4 units of less) prohibts a deficiency judgment on a note secured by a first trust deed. The new law… applies to:

1 to 4 Residential Units
Cash-Out Refinanced loans
Non-Owner Occupied Homes
Second Homes
Vacation Homes

History and Family Fun: 22nd Annual Bungalow Heaven Tour April 10, 2011

On April 10, 2011 from 10 a.m. to 4 p.m. Bungalow Heaven’s neighborhood Association invites you to their neighborhood for a taste of history, good food and music. Enjoy a walking tour of selected homes in the neighborhood as well a close up view of life during the early days of Bungalow Heaven at the Living History Home featuring costumed actors.

New CA Foreclosure Law: Minor Tweak in Time allowed to file Notice of Sale

Foreclosure Notices: This new law permits the filing of a Notice of Sale up to 5 days before the expiration of the 3-month period following the filing of the Notice of Default so long as the actual date of the sale is no earlier than 3 months and 20 days after the filing of the Notice of Default.

New Law: Energy Efficient Homes Encouraged: CA Home Energy Rating System (HERS)

A new law authorizes a home inspection to include, if requested by the client, a Home Energy Rating System (HERS) Program energy audit. A HERS inspection helps homeowners to determine the energy efficiency of their home and ways to improve it. The California Association of Realtors (CAR) has a rebate programs for buyers who perform HERS audits during the home inspection. Information on CARs energy audit program with rebates up to $250.00

New CA Law: Expedited Jury Trial: 8 Jurors; 3 hours Per Side to Present Case

New Law: The Expedited Jury Trial Act establishes procedures for expedited trials including a jury of 8 jurors or fewer with no alternates, a limit of 3 peremptory challenges for each side, and a limit of 3 hours for each side to present its case. 6 of the 8 jurors is necessary for a verdict. The verdict is binding. The parties waive all rights to appeal subject to the verdict being adjusted pursuant to any high/low agreements.

The Act also provides that participants agree to waive any motions for directed verdicts, motions to set aside the verdict or any judgment rendered by the jury, or motions for a new trial on the basis of inadequate or excessive damages.

New Law: Carbon Monoxide Detectors Required in Dwellings Effective 7-1-11

Effective 7-1-11 carbon monoxide detectors must be installed single family dwellings. All other dwellings must have carbon monoxide detectors installed by January 1, 2013.

Caron Monoxide cannot be detected by sight or smell and is the leading cause of accidental death by poison.