Trustee Sale Foreclosures In my recent MLO classes I asked some questions about Trustee Sale Foreclosures. Even with experienced real estate agents and mortgage loan originators, there is confusion on some items. One is: “What happens when there is an IRS lien on a property and there is a Trustee Sale?” The IRS lien will […]
Sentencing Finally saw an article where a mortgage executive was sentenced to a jail term for bank fraud during the financial crisis chaos. Michael Ashley’s company, Lend America, imploded to the tune of $49M in losses in 2009. His sentence: 3 years in prison, $49M in restitution, and a forfeiture of $800,000.00. The judge did […]
Why, You Ask? One Major Reason: Test grades: Three years ago, the passing rate for Broker’s exam was 39%Two years ago, the passing rate was 41%Fiscal year to date, the passing rate is 56%For the math majors this is an improvement of 44% DGE Guarantees That You Will Pass Or Your Fees For Our Crash […]
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DGE 1. We have the best instructors. 2. We have the most current and most valuable materials. 3. Best in the West; in business since 1963 so we have learned a thing or two. Our procedures are organized to save you time and worry. 4. Been a member of BBB for almost 60 years and […]
Membership It was interesting to me to read the NAR 2018 Year in Review on their website. Some facts: There were 1,359,208 members and they worked with 8,871,992 consumers in 2018. Causes NAR contributed $24.85M to political causes. So, each of us Realtors contributed $18.28 to various causes. Hope mine went to a cause that […]
Sanctions The DRE sanctions hundreds of licensees monthly. Some serious mistakes and some that are not so serious. The information is posted monthly to the DRE website and remains there forever. I miss seeing the rulings in the quarterly bulletins. First thing we all used to read. This is similar to the CAR Wall of […]
Opinions To me the answer to that question is that you should do open houses in any market. However, I wanted to get opinions from two experts whom I have observed closely for years, Martha and John Karelius. Martha enjoyed a four decades long career in South OC and John excelled in Ventura county and […]
Tax-Deferred When people talk about 1031 Real Estate Exchanges, they use the word Tax-Free. The correct word is Tax-Deferred. You will be paying the tax sometime later. And in every exchange one party is normally going to be taxed, unless they are also doing an exchange. You can have several legs to an exchange, but […]
Trust Fund Management In my real estate classes I ask a question and many licensees do not know the correct answer. Ready? What is a worse crime in Trust Fund Management? Commingling or Conversion. They answer commingling because licensees are taught from their first class, never mix your personal funds with trust funds. Conversion according […]
URLA Changes Yes, the URLA that you have been using is a-changing. Optional use of the new rendition begins July 1, 2019 (in less than a month) and mandatory usage begins February 1, 2020. Important point to consider. New Lender Loan Information Form There will be a new Lender Loan Information Form. This information was […]
