Posts Tagged ‘Sort Sale Real Estate’
Heads up to all California Real Estate Agents
March 27th, 2010 | 
Author: According to CAR: Undisclosed Short Sale Payments May be Illegal
RE/MAX Lakeside Lake Arrowhead Real Estate
Undisclosed payments in short sale transactions, especially those paid outside of escrow, may violate the law, including RESPA, laws against loan fraud, and licensing laws. Short sale agents have increasingly reported to C.A.R. about requests for agents and their clients to pay junior lien holders and others, oftentimes outside of escrow.
A common scenario is when a short sale seller’s senior lender authorizes a payment of $3,000, for example, to extinguish a junior lien, but the junior lender demands that the buyer pays an additional $9,000 outside of escrow. Not only would it be quite risky for a buyer to pay outside of escrow, but concealing this additional payment from a federally-insured senior lender may constitute loan fraud, which is a crime punishable by 30 years imprisonment plus a $1 million fine (18 U.S.C. section 1014). In addition, omitting from the HUD-1 Statement any charges paid at settlement by either a buyer or seller may violate the Real Estate Settlement Procedures Act (RESPA) (Appendix A to 24 C.F.R. Part 3500). Depending on the specific circumstances, carrying out these payment requests may also violate other laws and regulations, and an agent’s participation in the scheme may be subject to license revocation by the Department of Real Estate or other disciplinary action.
Agents and their clients are encouraged to file any complaints regarding fraudulent activities to the proper authorities, including the following agencies:
- Attorney General’s Office
California Department of Justice
800-952-5225 Phone
http://ag.ca.gov/consumers/mailform.htm - Department of Housing and Urban Development (HUD)
HUD Office of Inspector General Hotline (GFI)
800-347-3735 Phone
http://www.hud.gov/offices/oig/hotline - Federal Bureau of Investigation (FBI)
202-324-3000 Phone
https://tips.fbi.gov
Thank you for visiting RE/MAX Lakeside “Your Lake Arrowhead Blog“
Visit our RE/MAX Lakeside Blog site !
RE/MAX Lakeside Lake Arrowhead Real Estate
Check out Charlie & JoAnn’s New Blog Site!
Charlie & JoAnn Dickinson
RE/MAX Lakeside
28200 State HWY 189
R200A Lake Arrowhead Village
Lake Arrowhead CA
and
27169 State HWY 189
Blue Jay Village
Lake Arrowhead CA
Office 909-337-9999
Cell 909-260-8228 * 909-208-2020
ABOUT RE/MAX
• Nobody in the world sells more real estate than RE/MAX.
• RE/MAX agents have the experience to get the job done in today’s market.
• RE/MAX Associates average more sales than other real estate agents.
• RE/MAX Associates have more real estate sales experience than other real estate agents.
• RE/MAX has the most productive sales force in real estate.
Advertising/Brand
• Billions of dollars have been spent promoting the RE/MAX brand and agents.
• RE/MAX is one of the most recognized real estate brands and logos around the world.
• When you join RE/MAX you’re receiving the benefit of billions of dollars of advertising that have made RE/MAX the real estate leader it is today.
• RE/MAX dominated national TV advertising in 2008, reaching as many viewers as all other real estate brands combined.
• RE/MAX dominates national real estate TV advertising.
• In 2008, RE/MAX dominated national TV advertising, with a 50 percent Share of Voice, for viewers 25-54.
• Millions of buyers and sellers visit remax.com.
• Millions of buyers and sellers visit remax.com for their real estate needs.
• remax.com attracts millions of buyers and sellers.
• remax.com attracts millions of real estate buyers and sellers.
· remax.com is the most visited real estate franchise Web site.
Stats from ”ComScore, Jan.-June 2009; Compete.com, Feb. 2008-June 2009; Hitwise, Jan..-June 2009″)
• remax.com shows all of the listings in thousands of cities and towns.
Countries
• RE/MAX is in more countries than any other real estate brand.
• RE/MAX is in more countries than any of our competitors.
• RE/MAX is in over 70 countries, more than any of its competitors.
Hot Air Balloon
• The RE/MAX Hot Air Balloon fleet is one of the largest in the world.
• The RE/MAX Hot Air Balloon fleet is the largest in North America.
General
• RE/MAX has 2 percent of the agents but produces 10 percent of all agents’ sales.
• RE/MAX offers support and services not available at other real estate companies.
• RE/MAX leads the industry in professional designations.
· RE/MAX has more Certified Residential Specialists than anybody else.
(Same claim can be made for ABR, CDPE, SRES and CIPS designations.)
Nabbing a bargain-basement mortgage before rates rise
Nabbing a bargain-basement mortgage before rates rise
RE/MAX Lakeside Lake Arrowhead Real Estate
The Federal Reserve has been purchasing mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac since early last year. The purchase program has helped maintain low interest rates for borrowers. As planned, the Fed this week announced it will stop purchasing these securities at the end of this month. Many analysts anticipate this will result in a slight rise in rates by year’s end.
MAKING SENSE OF THE STORY FOR CONSUMERS
•· Interest rates have hovered at or near historic lows for much of the past 18 months, resulting in lower payments for many borrowers. With the Fed discontinuing its purchase program, some analysts believe a rise in interest rates could range from 0.25 percent to as much as 1 percent by the end of 2010.
•· The federal tax credit for home buyers also is scheduled to end April 30. The tax credit combined with the expectation interest rates will increase has created a sense of urgency for many home buyers. In fact, 23 percent of California home buyers purchased a home in 2009 due to the perception that interest rates will rise and they would be priced out of the market, according to C.A.R.’s 2009 Survey of California Home Buyers.
•· Rising interest rates will have an effect on home buyers. For example, a qualified couple with a combined pretax income of $100,000 per year and debt obligations (excluding mortgage) of $500 who receive a mortgage rate of 5 percent could qualify for a loan of up to $590,000, assuming a 20 percent down payment. If the interest rate were to rise to 6 percent, as analysts at Barclays Capital predict, the same couple could only qualify for a mortgage of $540,000.
To Read The Full Story CLICK HERE.
Thank you for visiting RE/MAX Lakeside “Your Lake Arrowhead Blog“
Visit our RE/MAX Lakeside Blog site !
RE/MAX Lakeside Lake Arrowhead Real Estate
Check out Charlie & JoAnn’s New Blog Site!
Charlie & JoAnn Dickinson
RE/MAX Lakeside
28200 State HWY 189
R200A Lake Arrowhead Village
Lake Arrowhead CA
and
27169 State HWY 189
Blue Jay Village
Lake Arrowhead CA
Office 909-337-9999
Cell 909-260-8228 * 909-208-2020
ABOUT RE/MAX
• Nobody in the world sells more real estate than RE/MAX.
• RE/MAX agents have the experience to get the job done in today’s market.
• RE/MAX Associates average more sales than other real estate agents.
• RE/MAX Associates have more real estate sales experience than other real estate agents.
• RE/MAX has the most productive sales force in real estate.
Advertising/Brand
• Billions of dollars have been spent promoting the RE/MAX brand and agents.
• RE/MAX is one of the most recognized real estate brands and logos around the world.
• When you join RE/MAX you’re receiving the benefit of billions of dollars of advertising that have made RE/MAX the real estate leader it is today.
• RE/MAX dominated national TV advertising in 2008, reaching as many viewers as all other real estate brands combined.
• RE/MAX dominates national real estate TV advertising.
• In 2008, RE/MAX dominated national TV advertising, with a 50 percent Share of Voice, for viewers 25-54.
• Millions of buyers and sellers visit remax.com.
• Millions of buyers and sellers visit remax.com for their real estate needs.
• remax.com attracts millions of buyers and sellers.
• remax.com attracts millions of real estate buyers and sellers.
· remax.com is the most visited real estate franchise Web site.
Stats from ”ComScore, Jan.-June 2009; Compete.com, Feb. 2008-June 2009; Hitwise, Jan..-June 2009″)
• remax.com shows all of the listings in thousands of cities and towns.
Countries
• RE/MAX is in more countries than any other real estate brand.
• RE/MAX is in more countries than any of our competitors.
• RE/MAX is in over 70 countries, more than any of its competitors.
Hot Air Balloon
• The RE/MAX Hot Air Balloon fleet is one of the largest in the world.
• The RE/MAX Hot Air Balloon fleet is the largest in North America.
General
• RE/MAX has 2 percent of the agents but produces 10 percent of all agents’ sales.
• RE/MAX offers support and services not available at other real estate companies.
• RE/MAX leads the industry in professional designations.
· RE/MAX has more Certified Residential Specialists than anybody else.
(Same claim can be made for ABR, CDPE, SRES and CIPS designations.)
RE/MAX Lakeside Lake Arrowhead, cutting Edge Technology at our Finger Tips
The RE/MAX Web Site pulls in nearly 3 MILLION UNIQUE VISITORS MONTHLY. Patrons can search for residential or commercial listings in any of the nations served by RE/MAX. They can also connect directly to RE/MAX agents Office’s like RE/MAX Lakeside Lake Arrowhead. It’s not just hype, RE/MAX sells more Real Estate Period. RE/MAX Lakeside Lake Arrowhead is the only Lake Arrowhead Real Estate agency with this exclusive marketing technology at there finger tips.
RE/MAX LAKESIDE LAKE ARROWHEAD REAL ESTATE WEB-SITE STATISTICS
|
This Week | This Month | This Year |
| Total Visitors | 1649 | 3637 | 5096 |
| Unique New Foreclosure Visitors | 0 | 154 | 176 |
| Unique New Visitors | 1455 | 3286 | 3547 |
| Unique New Foreclosure Leads | 1 | 4 | 7 |
| Unique New Leads | 5 | 13 | 35 |
| Foreclosure Page Views | 98 | 360 | 1047 |
| Page Views | 5324 | 14637 | 46096 |
| Foreclosure Listing Views | 24 | 70 | 199 |
| Listing Views | 2371 | 5540 | 14624 |
| Search Engine Referrals | 1 | 2 | 2 |
| Search Engine Spiders | 68 | 214 | 543 |
| Last Update as of 2/10/2010.
NOTE: Counts reflect activity that occurred on RE/MAX Lakeside Lake Arrowhead’s site only. |
Nobody Sells more Real Estate than RE/MAX. Where Do YOU Want To Be?
Contact RE/MAX Lakeside Lake Arrowhead Today and let us show you how the RE/MAX brand can work for you.
27169 State HWY 189 Suite 1
Lake Arrowhead CA, Blue Jay Village 92352
(909)337-9999 office
(909)336-9307 fax
Posted in Featured Articles, RE/MAX Lakeside News and Events | 
Tags: foreclosures, Lake Arrowhead Bank Owned Properties, Lake Arrowhead foreclosure, Lake Arrowhead Real Estate, lake arrowhead real estate blog, Lake Arrowhead Relocation, remax lake arrwohead, San Bernardino Mountain Activities, Sort Sale Real Estate, What you need to know before relocating to Lake Arrowehad | 
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