According to the Small Business Administration, over 50% of all small businesses fail within the first 5 years. Vendors who supply credit to these small businesses must hedge their bets by requiring that the business owner provide a personal guarantee. That is, if your business fails to meet its obligations, you would be personally ...
Category Archives: Real Estate
Sued For Your Debt? Get Help Early
As more and more people are getting sued by creditors, people often try to stick their head in the sand and ignore the lawsuit. Unfortunately, that won't make it go away. And if you've been sued, Sam Glover over at Caveat Emptor says to head for the nearest lawyer.
Are You Getting the Correct Advice From Your Real Estate Agent About Your Short Sale?
No doubt that banks are pursuing people who have short sold their homes for the deficiency, or the difference between what they owed to the bank and what ...
Don’t Be Ashamed To Ask For Help
With economy struggling to recover, many people who were well to do before are now facing dire consequences, being put in positions they never would thought they would have be in 5 years ago. I've come across two instances where people in need of legal counsel were too ashamed by their circumstances to ask for ...
More Loan Modification Madness: 133 Loan Mod Companies Targeted by CA Attorney General
California continues to crack down on fraudulent loan modification companies and attorneys. It recently targeted 133 companies based in Orange County.
Second Lien Program: Extinguishing a Second Mortgage
Back in April, the Obama Administration announced an update to the Make Home Affordable Program with regards to second mortgages. In an effort to keep people in their homes, the Second Lien Program offers banks & investors incentives to provide interest rate and monthly payment reductions. Depending on whether your second mortgage is an
Loan Modification Tips: Avoid Becoming a Victim
Many people continue to get ripped off by loan modification companies that take up-front fees and then provide no results. The California Attorney General has some tips on how to avoid becoming a victim to loan modification scams.
CA Real Estate Licensee ID Number Disclosure on Materials Starting July 1, 2009
Get those new business cards printed folks, because as of July 1, 2009, under California Business & Professions Code 10140.6, persons licensed by the California Department of Real Estate need to disclose their "license identification number on all solicitation materials all solicitation materials intended to be the first ...
Want to Loan Friends or Family Money? Protect Yourself or Kiss the Money Goodbye
No good deed goes unpunished. Clare Booth Luce, in H. Faber, The Book of Laws, 1980 US diplomat, dramatist, journalist, & politician (1903 - 1987) (Source) I've seen it happen often: a family member, friend, or even friend of a friend comes to you with a sob story like "my cat is sick" or "I need money to ...
Are You a Broker Looking to Take an Advance Fee for Loan Modifications?
If you are a real estate broker in California handling loan modifications and looking to take an advance fee for your services, you must submit your advance fee agreement to the California Department of Real Estate and receive a No Objection Letter. If you do not have a advance fee agreement drafted, you can ...