Attorney J. Robert Eckley (www.eckleylaw.com) kindly sent this overview of Dodd-Frank and the Consumer Financial Protection Act For Real Estate Brokers and has given me permission to send it to clients and friends of THE PAPER SOURCE, INC. OVERVIEW OF THE DODD-FRANK AND CONSUMER FINANCIAL PROTECTION ACT FOR REAL ESTATE BROKERS — CLICK HERE
On May 6 Fannie Mae will hold its first-ever auction of non-performing loans, and individual investors are welcome to bid. On the block will be about 3,200 loans representing $786 million in unpaid principal. Go to snipurl.com/fannie-npl-sale to receive announcements, training and other information The original, no sales pitches, no upsells, all networking and professional education, Paper Source Note …
Did you know that the police can seize your property and keep it EVEN IF THEY DON’T CHARGE YOU WITH A CRIME? It’s called civil asset forfeiture. Once your property is seized you must go through the difficult, and often unsuccessful process to get your property–whether it’s a vehicle, cash or your home–back from the police. …
Your Property Can Be Seized For Any Reason…Or No Reason At All Read More »
“Suppose I buy a note for $5,000 that has a balance of $10,000. The note interest rate is 12%. I collect interest for the year of $1,200 and principal of $1,000 in the first year. How do I report the $1,000 principal collected on the tax return?” Answered by John Moren, the author of the …
There’s a website where you can get daily postings of foreclosures in California, Arizona and Nevada: www.countyrecordsresearch.com I’ve made a special deal with the owner of the site to give you 30 days of free access with unlimited county searches (instead of the 5 days they normally offer). To get this deal , go to the website and click on “5 Day …
The state of Hawaii now prohibits homeowners from using “seller financing” without a licensed broker. According to a Hawaii real estate attorney, “The statute now requires any “seller financed” transaction to be handled by a licensed or registered broker, even in a family situation. I hear the registration process is too involved for most one-time …
Dodd-Frankenstein: State Outlaws Seller Installment Sales w/o A Broker Read More »
WASHINGTON (Reuters) – The U.S. Supreme Court on Tuesday (1/13/15) ruled in favor of homeowners seeking to back out of mortgages when lenders are accused of failing to follow the federal “truth in lending” law. On a 9-0 vote, the court handed a win to an Eagan, Minnesota couple, Larry and Cheryle Jesinoski, over the $611,000 …
US Supreme Court Rules Against Mortgage Originators Read More »
The Nevada Supreme Court has ruled that a note “super priority lien” held by a homeowners association can extinguish a first deed of trust on a property. The Sept. 18 ruling is a victory for a group of real estate investors called SFR Investments Pool 1, which foreclosed on such a super priority note …
Don’t Buy Notes Or Lend On Nevada HOA Properties Read More »
How many times have you lost the opportunity to purchase a note because the note seller needed or wanted more money than the quality of the note justified? If the note seller wants an amount of cash equal to 75% LTV, but the property and/or purchaser supports only a 60% LTV, the deal will probably not be …
Meet A Note Holder’s “Impossible” Expectations With The Reverse Partial Read More »
by Jeff Armstrong Most note holders initially ask for a full purchase. Many of them have just discovered the fact that they have the ability to sell their note and have no idea that alternate purchase options are possible or are even available. As a result, many note investors and brokers only focus …
The Power of Partials For Cash Flow Note Investors & Brokers Read More »
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