Here’s a chilling article from the Daily Telegraph (UK) on a proposal to ban cash transactions and only allow them via (govt. controlled) banks. Note how it is proposed that governments “manage” the economy by directly controlling spending. This is no fantasy — Denmark is moving toward this already. “All payments (would be) made by…card, …
Freddie Mac will auction $233 million of “geographically diverse, deeply delinquent”non-performing loans. The new program, called Extended Timeline Pool Offering, or EXPO, will target smaller investors by making smaller pools of non-performing loans available. To participate, all potential bidders are required to be approved by Freddie Mac. Bids for the pool are due from qualified bidders …
Freddie Mac Auctioning Non-Performing Loans; Small Investors Invited To Bid Read More »
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 »
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