Category Archives: Nat’l

3.8% Home Sales Tax–supporting Health Care Bill. KNOW the Facts!

I was very tired of getting offensive emails stating “Obama Care” was going to hit EVERY home sale with a 3.8% “Home Sales Tax”. These purveyors of untruths actually would show a home sales price of $250,000 and then state: “3.8% or $9,500 you’ll be forced to pay for Obama Care!”. WRONG! As a friend is want to say, “You’re entitled to your OWN opinion BUT NOT your own FACTS!” Here’s a LINK to a great paper put out by the National Association of Realtors explaining the “Tax” and how it applies to Real Estate. It most definitely IS a Tax but NOT what the email campaigns would have you believe!

 

Join us this Sunday, 2/12/12 as we unravel the latest mortgage relief effort…could THIS be the real game changer??

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Federal Government & Attorneys General reach landmark settlement with major banks

Roughly $25 billion in relief for distressed borrowers, states and federal government.

From the “NationalMortgageSettlement.com” website.

After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan servicers:

The settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. It’s the largest multistate settlement since the Tobacco Settlement in 1998.

The agreement settles state and federal investigations finding that the country’s five largest loan servicers routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct.  Both of these practices violate the law.  The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as to many of the borrowers whose loans they service.

  • About the Settlement: Learn about the settlement, who is affected and what claims may still be pursued against the banks. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • Help for Borrowers: Learn how to find out if your loan is affected by this settlement, the timeline for relief, how you will know if you are eligible. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • News: Read the national news release and find links to your state Attorney General’s Web site for state-specific news.
  • Loans owned by Fannie Mae or Freddie Mac are not impacted by this settlement.  You may visit the following websites to learn if your loan is owned by either Fannie Mae or Freddie Mac:

Here’s what the plan will do for homeowners in specific situations;

Mortgage underwater but current with payments. More than 10 million homeowners in the U.S. owe more on their mortgages than their houses are worth. The latest plan would enable people who have been making loan payments on time to save about $3,000 a year on their mortgage by refinancing with lower-interest loans guaranteed by the Federal Housing Administration.

Mortgage underwater and behind with payments. More than $12 billion to be set aside to reduce principal for homeowners who are behind on their payments and owe more than their houses are currently worth.

Victims of foreclosure fraud. The plan will provide payments of about $2,000 a piece to approximately 750,000 families that have been the victim of improper foreclosure practices. Most commonly—routine electronic notarization of documents being transferred from one financial institution to another as part of the foreclosure process–a practice known as robo-signing.

This will most likely apply to people who lost their homes between Jan. 1, 2008, and Dec. 31, 2011.

This week’s show; Attorney Daniela M Pavone on Land Use, Landlord/Tenant, Environmental and Contract Law, Sunday 11/20 1350AM KSRO 9-10AM

  • You’re a landlord with tenant issues…. a tenant in a home facing foreclosure, wondering what your rights are?
  • You have a real estate contract you just don’t understand… Private loan….TIC (tenant in common) terms to be drafted
  • You’re a property owner with a lot line dispute, a neighbor’s tree hanging precariously over your yard…a noisy dog…environmental issues..

Tune in to The Real Estate Hour on Sunday November 20, 2011 / 1350AM KSRO, Streaming live at www.KSRO.com. Call in number is 707-636-1350

The Law Office of Daniela M. Pavone is dedicated to providing personal and effective legal counseling to help individual and corporate clients throughout Sonoma, Mendocino, Lake and Marin Counties tackle their contract, land use, and environmental issues.

Daniela M. Pavone

642 5th Street
Santa Rosa, California 95404
Telephone: (707) 703-4338
Facsimile: (707) 735-5000
DPavone@PavoneLawOffice.com

Landlord/Tenant

I have represented both landlords and tenants in all stages of the landlord/tenant relationship.  I have extensive experience helping landlords to follow the strict eviction procedures to ensure that, should a tenant need to be evicted, it can be accomplished efficiently and legally.  I also have the necessary experience to protect a tenant whose landlord has attempted to initiate an eviction proceeding improperly. I know both sides well, so if your tenant has threatened his or her neighbors with violence or your landlord has cut off your utilities, I can help.

Land Use

I have worked with local government agencies to facilitate zoning changes, divisions of land, boundary line adjustments, and other approvals necessary for the ability of property owners to develop and utilize their property.  I am familiar with the procedures local and state government must follow in the approval or denial of a development permit and have sought redress from both when those procedures have not been followed and the rights of property owners, their neighbors, or other interested parties have not been protected.  If you think a development project was improperly approved or denied, or you would like some guidance in maneuvering through the local bureaucratic maze, do not hesitate to call or stop by.

Real Property

I have handled an array of real property disputes including those involving title, the location of boundary lines, access easements and water rights.

Animal Law

I have experience with an array of animal law issues including helping clients handle damage caused to the property of a neighbor by their animal, obtaining recovery for the death or serious injury to a farm animal by a neighbor’s dog, animal related noise complaints, and helping clients prepare for, and representing them at, vicious dog hearings.

Environmental Law

I am very familiar with the numerous regulations protecting natural resources, specifically the California Environmental Act (CEQA) and the National Environmental Policy Act (NEPA), having argued both in front of local government agencies, the Superior Court and the Court of Appeal.

General Civil Litigation

I have handled a broad range of general civil litigation including bringing and defending claims for breach of contract, fraud, breach of trust, breach of fiduciary duty, negligence, and damage to personal property.

Transactional

I have experience drafting sales and service contracts, buy-sell agreements, road maintenance agreements, residential and commerical leases, purchase agreements and covenants conditions and restrictions (CC&Rs).

On This Week’s Show; The Loan Modification Process Dissected.

Today, on The Real Estate Hour, we’ll be talking to a homeowner who heroically navigated the loan modification process, substantially lowered her interest rate,  and saved her home.

We’ll get her take on the process, and tell you more about the Making Home Affordable Help Team at www.MakingHomeAffordable.com 1-800-300-5454.  Your calls are welcome; 707-636-1350 on 1350amKSRO 9-10am.

Seller/Rental Property Owner Alert; Carbon Monoxide Detectors required on all sales as of July 1, 2011

Owners of tenant occupied properties are required to install Carbon Monoxide Detectors in existing  Single Family Homes beginning July 1st, 2011.  Home Sellers are required to install upon sale.  
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 The Carbon Monoxide Poisoning Prevention Act of 2010 requires that existing single family homes have carbon monoxide detectors installed by July 1st.  Other existing dwelling units must have carbon monoxide detectors installed by January 1, 2013.  The Real Estate Transfer Disclsoure Statement contains disclosure language related to this requirement. There are no special carbon monoxide disclosure obligations beyond the TDS.  Violation of the requirements is an infraction punishable by a maximum fine of $200 for each offense. 

Carbon monoxide is an odorless, colorless and toxic gas. Because it is impossible to see, taste or smell the toxic fumes, CO can kill you before you are aware it is in your home. At lower levels of exposure, CO causes mild effects that are often mistaken for the flu. These symptoms include headaches, dizziness, disorientation, nausea and fatigue. The effects of CO exposure can vary greatly from person to person depending on age, overall health and the concentration and length of exposure. More…

Short-Sales and “Deeds-in-lieu” UP according to the Treasury Department! But Loan Mods–50% fall out!

DSNews.com and Carrie Bay report: The Treasury Department released a new report on the government’s foreclosure prevention efforts Friday. In addition to the Home Affordable Modification Program (HAMP) numbers that are regularly recounted, new this month are details on short sales and deeds-in-lieu, as well as second lien modifications.

Short-Selling? A MUST listen Show-March 6th-CEO of Certified Distressed Property Expert’s –Alex Charfen!

As a special presentation to the NorthBay, Allison and I  are distinctly honored to have on our show for the entire hour, the leader in the Distressed Property market, CEO  of The Distressed Property Institute: Alex Charfen.

Alex will give us the latest update in the Short-Sale market as well as new developments for Homeowners and how to stave off foreclosure and keep most of your credit intact!

  Far too many homeowners facing foreclosure proceed without the assistance or advice of real estate professionals. Now more than ever, you need to find an advocate for you and your family’s interests, one who is prepared to handle your specific needs.  Real estate professionals with the Certified Distressed Property Expert (CDPE) Designation have trained extensively to understand the options, solutions, and effective methods for dealing with homeowners facing hardships. Don’t risk your financial future and the potential sale of your home with an agent who does not have all the solutions.

  Distressed Property Institute, LLC
The Distressed Property Institute trains real estate professionals to engage with and assist homeowners facing hardships. The Institute has developed a curriculum to provide the tools and knowledge to handle distressed properties, including short sales, deeds-in-lieu, mortgage modifications, forbearance, refinances, reinstatements and, if that fails, how to help homeowners through the foreclosure process. After completing a comprehensive on-site or online course, graduates are awarded the Certified Distressed Property Expert® Designation

2010 Top 10 Big Real Estate Stories Sonoma County,California and the US!

The Big Stories of 2010:

1.   Rates stayed at historic lows—we started at 5% and finished  at 4.875% –the biggest lender of them all, the U.S. Government, are keeping rates very low, artificially LOW.

2.   Underwriting and the vanishing Mortgage Broker! –Tighter and Tighter are the underwriting guidelines. The first time homebuyer should be buying the foreclosed properteis but is having the door slammed in their face due to tighter and tighter underwriting guidelines. Investors? Amount of properties owed is now a variable plus they also face tighter guidelines. CASH buyers–Seems the smartest way to buy!

3.   Government Intervention—the much touted HAFA (Housing Affordable Foreclosure Alternatives program)—Began in April, a “real game changer” but has laid a big egg!  Short-Sales seem to not be getting done any quicker or  increasing numbers. The much ballyhooed “HAFA Certification” has yielded nothing in the way of approved, REO-like, Short-Sales.  Short Sales for December of -09 where 80 with 171 Days on the Market and median of $297,000! Today–84 Short-Sales Dom 192 and Median Price $295,000

4.   Federal 1st Time Homebuyer credit—after it expired sales dropped a monster 20% in ONE month!! It did matter.

5.   The State 1st Timer program—absolute waste of money in my opinion. Much of it was GONE when it was enacted as many IN ESCROW quickly grabbed the $$$.

6.   The  “Shadow Inventory”? We’ve been hearing of a new wave of REO’s to eventually burst onto the market.  WHEN will they cometh?!! Last year at this time in Sonoma County we had 163 for December and today 122. Down 22%.

7.   FLIPPERS—Wow! Some of the prices at the court steps really blew away Homeowners trying to modify their home loans for a LOT more—only to see their lenders selling for a LOT LESS! And then the PD finds many didn’t even pull permits!!??

8. SB931– prohibit a deficiency judgment under a note secured by a first deed of trust or first mortgage for a dwelling of not more than 4 units in any case in which the trustor or mortgagor sells the dwelling for less than the remaining amount of the indebtedness due at the time of sale with the written consent of the holder of the first deed of trust or first mortgage.
 
9. 10 States AG Settlements Wachovia/World/Wells Fargo.

10. Government/State/City “road-bumps” on the road to foreclosure. “Sit-downs”, Mediations, California law to stop foreclosure during modification Negotiations.