The Florida legislature kicked off its legislative session by introducing Florida Senate Bill 894 and House Bill 935, legislation that would regulate seller carryback mortgages on non-owner-occupied homes. On January 18, the bill passed the House Insurance and Banking Subcommittee with a 13-1 vote in favor. On January 24, the House Commerce Committee passed the …
Florida Attempting to Regulate Private Mortgages Read More »
In October 2017, SB 2 (Ch. 364, 2017) was signed into law by Governor Brown, creating a $75 fee on the recording of certain documents. Read about it here: http://www.clta.org/page/SB2CountyDocs Contributed by Carolyn Horvath oakcreekcapital-llc.com
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 676,535 U.S. properties in 2017, down 27 percent from 2016 and down 76 percent from a peak of nearly 2.9 million in 2010 to the lowest level since 2005. Those 676,535 properties with foreclosure filings in 2017 represented 0.51 percent of …
James Elton Warr, who operated American Note Warehouse, has been sentenced to 15 years in prison after being convicted of bilking investors out of more than $1 million from 2010 to 2011. His brochure read: “Make Money in Real Estate Without Real Estate.” His business card touted “Contractually Guaranteed 13% Interest” A Travis County, Texas …
American Note Warehouse Head Gets 15 Years For Fraud Read More »
Over the past 10 years, the rental population increased dramatically, even outpacing homeownership growth in the majority of the top U.S. markets. From 2006 to 2016, data from the U.S. Census Bureau shows nearly 25% of the 100 largest U.S. cities shifted from owner to renter majority. Renters took over in 22 cities, increasing the …
Rentership growth outpacing homeownership in 97 of top 100 cities Read More »
The latest mortgage fraud to affect the mortgage industry is being called wire fraud or down payment wire fraud. Each case tends to involve a combination of email hacking, identity fraud and wire fraud. A scammer hacks the sensitive data of an impending mortgage transaction, assumes the identity of a party involved (such as a …
Mortgage wire fraud is a much bigger threat than you realize Read More »
Mark your calendar for Wednesday, Jan. 24 for a special free podcast with Sándor Lau of Noted Financial. Sándor is one of the most well-known investors in non-performing second mortgages (for more about him see https://notedfinancial.com/about/). And he’ll take your questions live. PODCAST ON NON-PERFORMING SECOND NOTES WED., JAN. 24: 9:30 a.m. Pacific Time 10:30 a.m. Mountain 11:30 a.m. Central 12:30 p.m. …
Free Podcast On Non-Performing Notes Wed. Jan. 24 Read More »
If you were hit with a $1,000 emergency, would you be able to cover it? For the majority of Americans, the answer is no. Only 39% of Americans say they would be able to pay for a $1,000 unplanned expense, according to new reportfrom Bankrate. “Even though unemployment is down and there’s been a recent …
The former owner of a California foreclosure rescue firm admitted in court last week to stealing struggling borrowers’ homes during the housing crisis. Sergio Barrientos pleaded guilty last week to conspiracy to commit wire fraud affecting a financial institution and bank fraud. According to court documents, from about September 2004 through February 2008, Barrientos and …
Former owner of foreclosure rescue business admits to stealing borrowers’ homes, equity Read More »
The new federal tax law have given note & real estate investors a gift they might not be aware of yet. Owners of notes and investment property — from mom and pop landlords to big-time real estate moguls — could get a federal tax deduction of up to 20 percent of their net rental income …
Powered by WishList Member - Membership Software
