Fisher Law Corporation

CALIFORNIA’S HOUSING MARKET DOWN FOR THIRD STRAIGHT MONTH

Existing, single-family home sales totaled 406,920 in July, down 0.9 percent from June and down 3.4 percent from July 2017. July’s statewide median home price was $591,460, down 1.9 percent from June and up 7.6 percent from July 2017.  “While home sales continued to decline in recent months, the softening...

Read More

UNLICENSED CONTRACTORS ARRESTED

A sting operation conducted by the Contractors State License Board on July 25-26, 2018,  resulted in 15 individuals being cited for alleged illegal contracting.  CSLB’s Statewide Investigative Fraud Team (SWIFT) compiled a list of suspected unlicensed contractors and invited them to place bids on home improvement projects for asingle-family home...

Read More

KEY POINTS TO CONSIDER IN HIRING A PROPERTY MANAGER

Get the full name and contact information of the person or company you employ. Check the property manager’s Bureau of Real Estate license, which must be valid and active to collect rent and manage your property. (Note: Resident property managers don’t need a real estate license.) Ask the property manager...

Read More

BEWARE OF FRAUDULENT LOAN MODIFICATION SCHEMES

Protect yourself from loan modification or foreclosure rescue scams. Beware of loan modification and foreclosure rescue scams run by con artists who demand the payment of upfront fees. Loan modifications are situations in which you and your lender agree to modify one or more of the terms of your home...

Read More

TIPS FOR BORROWERS WHEN APPLYING FOR A HOME LOAN

​• Ask for a Mortgage Loan Disclosure Statement and/or a loan estimate. These documents will tell you the cost and proposed terms of the loan.• If using the services of a mortgage broker, contact the California Department of Business Oversight at www.dbo.ca.gov or (866) 275-2677, and/or the Department of Real...

Read More

RED FLAGS IN REAL ESTATE FRAUD

Here are examples of red flags during a real estate transaction. Be wary if you: • Are asked to pay cash. • Are asked to pay for something “on the side,” “outside of escrow,” or “after closing.” • Are asked to pay a real estate agent directly or are asked to pay upfront...

Read More

2018 TAX REFORM AND REAL ESTATE

On December 22, 2017, the tax bill known as the Tax Cuts and Jobs Act was signed into law by the President. Amongst the many areas of the tax code that the TCJA affects, real estate taxes and mortgage interest deductions are some of the biggest changes. Two of the...

Read More

FHFA INCREASES CONFORMING LOAN LIMITS

Federal Housing Finance Agency (FHFA) announced that it will increase the 2018 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $453,100 on one-unit properties and a cap of $679,650 in high-cost areas. The previous loan limits were $424,100 and $635,150, respectively. The conforming loan limit...

Read More

WHAT IS CROWDFUNDING?

Crowdfunding harnesses the power of social networks and the internet to give people the means to raise funds, help others overcome hardship, and meet aspirational goals. With crowdfunding, you can do everything from helping a friend pay for surgery to fulfilling a student’s dream of attending college, supporting a cause...

Read More