Renters get relief from foreclosure

Renters get relief from foreclosure
Many of the households affected by the foreclosure crisis are actually renters, and a federal law is designed to keep them from being evicted with little or no notice.
By Marcie Geffner of Bankrate.com
A federal law enacted this year offers renters more protection from eviction if their landlord loses the property through [...]

Mortgage delinquency rate rises to 9.64 percent

Mortgage delinquency rate rises to 9.64 percent
Source: C.A.R. Newsline
The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64 percent of all loans outstanding in the third quarter, up 40 basis points from the second quarter, and up 265 basis points from one year ago, according to [...]

Deed-For-Lease program

One new foreclosure avoidance option is Fannie Mae’s Deed-For-Lease program, announced November 5, 2009. Remember, this option is only available after a borrower has exhausted all other options including a short sale!
Fannie Mae Servicing Guide Announcement 09-33 introduced the Deed-for-Lease Program (D4L), allowing qualified borrowers (or tenants) with properties transferred through deed-in-lieu of foreclosure (DIL) [...]

President signs federal tax credit extension

President Obama today signed a bill extending and expanding the Federal Tax Credit for Home Buyers. The bill passed the U.S. House of Representatives yesterday and the U.S. Senate late Wednesday.
The tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. [...]

NEARLY $3 MILLION SETTLEMENT FOR HOUSING DISCRIMINATION

NEARLY $3 MILLION SETTLEMENT FOR HOUSING DISCRIMINATION
The U.S. Department of Justice has obtained a record $2.725 million settlement against Los Angeles apartment owners for alleged rental discrimination. In a lawsuit brought in August 2006, the Justice Department claimed that Donald T. Sterling and others engaged in discriminatory practices, such as refusing to rent to [...]

Call-for-Action on Homebuyer Tax Credit

Call-for-Action on Homebuyer Tax Credit
We are calling all of Team NuVision members, clients, guests, and friends to support requesting extension of the First-time Homebuyer Tax Credit beyond its November 30th expiration date.
Call 1-800-961-3302 and, when prompted, enter “999999999″ for the PIN number and home zip code to be connected to your legislator’s office.
Let’s do [...]

California cracks down on mortgage fraud

California cracks down on mortgage fraud
SACRAMENTO
October 12, 2009 5:27am
• New laws supposed to protect homeowners
• ‘Helps crack down on abusive lending practices’
California now has new laws that are supposed to prevent homeowners and homebuyers from mortgage fraud.
Legislation to increase protections for consumers in the lending market and [...]

C.A.R.’s 2010 Housing Market Forecast released

C.A.R.’s 2010 Housing Market Forecast released
The median home price in California will rise 3.3 percent to $280,000 in 2010 compared with a projected median of $271,000 this year, according to C.A.R.’s “2010 California Housing Market Forecast,” presented today at CALIFORNIA REALTOR® EXPO 2009 in San Jose. Sales for 2010 are projected to decrease 2.3 percent [...]

LOAN MODIFICATION ATTORNEYS UNDER INVESTIGATION

LOAN MODIFICATION ATTORNEYS UNDER INVESTIGATION
The State Bar of California has recently launched numerous investigations against attorneys for misconduct related to loan modifications. In a rare move, the State Bar has released the names of 16 attorneys under investigation, by opting to waive investigation confidentiality in favor of public protection. These attorneys have allegedly [...]

Deferred Sales Trust (DST)

How the DST Works?
The DST is a tax deferral tool. You transfer property ownership to a dedicated trust, administered by a third party trustee. The DST sells the property to the buyer. The funds of the sale are disbursed by a third party administrator in DST payments, per the terms of your customized [...]