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…
Category Archives: Real Estate
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 use…
LA Times: A Quick Guide to Loan Modification
With all the people upside down these days, you can’t turn on the TV or radio without hearing some firms handling loan modifications. Some of these companies are fly-by-night operations, so do your due diligence, especially if they take an advanced fee. The LA Times has an article about loan modifications, free government help, and how…
It Might Be Cheaper to Create an Estate Plan
My fellow SoCal attorneys over at the California Estate Planning Blog wrote about the increased filing costs in Los Angeles County. Their example considers a common situation: If you are married, own a home and have a minor child — the following could very well occur if no estate plan is in place: 1. Probate…
You Get What You Pay For
With the economy being the way it is, it is easy to cut back on everything. While that’s not always a bad thing, there are just some things that you should just pay for. Ruth Mantell over at the Wall Street Journal writes that you should pay for expert advice. Quoting Eric Tyson, author of …
Beware of Loan Modification Companies
If you have trouble paying your mortgage, you may be considering loan modification. The United States Department of Housing and Urban Development has a section for frequently asked questions, and the California Department of Real Estate has a section to help you in your due diligence. If you think you are ready for loan modification,…
Buying Foreclosed Properties in Los Angeles
LA Times writer Peter Hong has written an article about his adventure buying a foreclosed property in Los Angeles. It is a good read for those of you looking to get a dose of reality and how the system works. In one instance, he got burned by the broker and agent because the agent didn’t present his…