California Short Sale Lawyer™

April 19, 2010 at 7:37 pm

Webinar Wrap-Up on 4/20 at 4PM Pacific

Posted by Ron Ballard in Brokers and Agents, Everyone, Investor Buyers

If you can’t make either of the earlier webinar opportunities on Tuesday, April 20, I’ll be giving a “wrap up” webinar hosted by Cory Boatright at 4PM Pacific (7PM Eastern). We’ll cover the various developments and thoughts that have been presented throughout the day.

Cory’s comments are found at http://shortsalefundamentals.com/blog/2010/04/19/freddie-mac-short-sale-illegal/

I know, it’s still regular business hours for Californian’s but this is all happening at a quick pace, so do your best to make it.

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at 2:52 pm

The Three Lawyers Webinar 4/20 Noon Pacific

Posted by Ron Ballard in Brokers and Agents, Everyone, Investor Buyers

“The Three Lawyers:” You’ve heard of the “Three Amigos” and the “Three Tenors,” now there’s the “Three Lawyers.” Chris McLaughlin, Jeff Watson and I will have a webfest on Tuesday, 4/20 at 3PM Eastern (Noon Pacific) [right after Jeff’s own webinar –hope his voice holds up]. You’ll get three points of view about the recent Freddie Mac article about “short payoff fraud” and how it might affect short sale investing.

If you’re in the short sale business, be sure to make one or both. Register for the “Three Lawyers” at
https://www2.gotomeeting.com/register/979457515

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at 9:28 am

Watson Webinar on Tuesday 10AM Pacific

Posted by Ron Ballard in Brokers and Agents, Everyone, Home Buyers, Home Sellers, Investor Buyers

Obviously, there’s questions about the recent Freddie Mac article about “short payoff fraud.” I’ll be posting more, participating in webinars, and getting involved with direct government contact in concert with other key players in short sale investing (much of which likely will be behind-the-scence, so don’t get anxious when you don’t hear about them). As I learn of other valuable resources, I’ll post links to them.

Jeff Watson will be hosting a webinar on the topic (and about HAFA issues) tomorrow, Tuesday, April 20 at 10AM Pacific time (1PM Eastern). Go to www.topshortsalelawyer.comto register.

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April 17, 2010 at 3:52 pm

Freddie Mac Article No Reason to Panic

Posted by Ron Ballard in Brokers and Agents, Everyone, Home Buyers, Home Sellers, Investor Buyers

I wasn’t going to write about the April 12 Freddie Mac online article about “Short Payoff Fraud” for several days because it is so fraught with misstatements and misunderstandings that it’s my humble opinion that it will be modified and clarified soon. However, I have received too many inquiries from nervous real estate investors and licensees to ignore it.

The article can be found at http://www.freddiemac.com/singlefamily/news/2010/0412_payoff_fraud.html

As my good friend and legal colleague, Jeff Watson, says today on his Facebook page (http://www.facebook.com/jefferyswatson ), “Please stay calm.”

First, it’s valuable to note that the author is not named nor is any specific contact information provided for follow up (just generic contact points). This brings the Read the rest of this entry »

19 Comments

April 14, 2010 at 10:16 am

California Extends Mortgage Debt Forgiveness

Posted by Ron Ballard in Brokers and Agents, Everyone, Home Buyers, Home Sellers, Investor Buyers

Mortgage Forgiveness Debt Relief Extended – (Reprint from Ca. Franchise Tax Board)

[Please register or login if you cannot read the whole article. ]

On April 12, 2010, SB 401, the Conformity Act of 2010 was enacted. It allows taxpayers who had all or part of the loan balance on their principal residence forgiven by their lender to exclude the forgiven debt from California gross income. The new law applies to discharges of qualified principal residence indebtedness on or after January 1, 2009, and before January 1, 2013.

New law – Taxable years 2009 through 2012

California law conforms, with modifications, to federal mortgage forgiveness debt relief for discharges that occurred in tax years 2007 through December 31, 2012. The amount of qualifying indebtedness is less than Read the rest of this entry »

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March 30, 2010 at 10:24 am

Webinar Wednesday 3/31: Navigating the Paperwork Maze

Posted by Ron Ballard in Everyone

On Wednesday March 31, Justin Lee is interviewing me about “Navigating the Maze of Contract Paperwork” in short sale investing.

This will cover general, national issues and use California specific examples to benefit investors in California and across the country.

The California DRE announcement last week makes proper disclosure and compliance even more important.

What starts in California often spreads across the nation.

At this moment, I can’t promise a replay or a permanent link.

You need to register at https://www2.gotomeeting.com/register/720214018

If there’s time left, we’ll open up to Q & A. Priority will be given to questions from registered members posted in the Comments below and to Justin’s coaching students who Read the rest of this entry »

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March 26, 2010 at 12:43 pm

DRE News Flash Need Not Be Cause for Concern

Posted by Ron Ballard in Brokers and Agents, Investor Buyers

On March 24, 2010 the California Department of Real Estate issued a “News Flash” warning real estate licensees about risks of “Fraud, and Legal and Ethical Minefields.” This news flash is posted below. I will post a series of articles discussing the many issues raised, but for now it’s important for investors and real estate licensees who have been using my legal forms and following the procedures I have been advising to know they have nothing or little to change.

Like many articles that come out over time, the latest News Flash raises many “issues.” By raising an “issue” it implies that the issue itself is illegal or unethical. That is not the case. On Read the rest of this entry »

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at 5:28 am

Info for Sellers

Posted by Ron Ballard in Home Sellers

If you need, or think you may need, to sell your property as a short sale, what do you want to know about the process?

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at 5:27 am

Info for Home Buyers

Posted by Ron Ballard in Home Buyers

If you are interested in buying a personal home to live in that is for sale as a short sale, what do you want to know about buying a short sale property?

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at 5:25 am

Info for Licensees

Posted by Ron Ballard in Brokers and Agents

The first article for licensed agents and brokers will be about the March 24 announcement from the California Department of Real Estate regarding investors and real estate licensees.

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