29 May 2021 | 103 replies
Under Civil Code 2945.4, it is a crime to do any of the following acts in a capacity as a foreclosure consultant:Charging or collecting any compensation until after the foreclosure consultant’s work has been completed as agreed to in the contract;Charging or collecting interest or fees in excess of 10% per year of any loan the foreclosure consultant may make to the owner;Taking an interest in other property or a lien against the wages of the owner;Receiving payments from any third party for these services without full disclosure to the owner;Acquiring any interest in the owner’s residence in foreclosure;Taking any power of attorney from an owner for any purpose;Inducing or attempting to induce an owner into a contract that does not comply in all respects with Sections 2945.2 and 2945.3; orEntering into an agreement at any time to assist the owner in arranging, or arrange for the owner, the release of surplus funds after the trustee’s sale is conducted, whether the agreement involves direct payment, assignment, deed, power of attorney, assignment of claim from an owner to the foreclosure consultant or any person designated by the foreclosure consultant, or any other compensation. 2Prosecution of Foreclosure Fraud Under Civil Code 2945.4The crime of foreclosure fraud is similar to that of the crime of theft by false pretenses.
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6 April 2023 | 0 replies
Is there anyone in the BP community familiar with an arrangement like this who can help me prep my taxes this year?
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4 April 2023 | 16 replies
Choose two days in a two hour window that you will be doing showings and let her know that you will need to proceed; point out that this is provided within her lease and that you are arranging the showings to limit any inconvenience.
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26 July 2021 | 16 replies
If the tenant can’t settle on an arrangement with the landlord in court, they can pay the base rent without late fees, and not be evicted.
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17 April 2023 | 7 replies
.* Sale-Leaseback: You can consider a sale-leaseback arrangement where you sell your properties to a buyer who then leases them back to you.
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23 June 2020 | 16 replies
The conclusion here is that you'll be out of pocket for $74,000 - $37,983 = $36,017.If you rent, you'll pay rent only one third of the time or $56,975 / 3 = $18,992 or half the cost of buying.The difference between buying and renting is so large that it'll remain in favor of renting even if you change my assumptions.While the property might increase in value over time (or not) you'll never be able to enjoy the increase in equity since you'll keep the condo to live in it and you can't refinance.Of course, it's always nice to own your own property so that you can arrange and decorate it as you want and it might have a more homely feel.
6 August 2018 | 3 replies
I guess my concern is that it would create a de-facto partnership or tenancy in common arrangement, and one of the co-borrowers would be renting to themselves personally.
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28 May 2021 | 4 replies
If you are, try to get a contractor in there to look at it, and if you're out then have them look at the inspection report and give you something resembling a ballpark.
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21 June 2021 | 14 replies
However, the way that things have played out over the last few years--it definitely resembles a BRRRR.