SHOULD YOU HAVE YOUR NEW LOAN DOCUMENTS REVIEWED BY AN ATTORNEY?

If you’ve even been half paying attention to the media coverage on mortgage litigation lately, you have probably heard about getting a loan document “audit.” This is where you pay thousands of dollars to some self-titled called forensic loan auditor to prepare a nonsensical report that identifies de minimis technical violations in your stack of loan documents from a loan you did five years ago – a report that you are told to take to an attorney and sue your lender into submission to get the loan modification that you deserve. You know that one? Well, that’s not what this article addresses. What this article does address is the question of whether it’s worth having a competent knowledgeable and qualified attorney explain the complex language of your loan documents to you before you sign on the line which is dotted. Five years ago people did not even blink at the fact that their loan officer got huge amounts of money for selling them a predatory loan.  Continue reading

SHORT SALE VERSUS FORECLOSURE

This article discusses California foreclosure laws in very general terms and omits many specific nuances which may make such laws inapplicable to you. California foreclosure laws are complex and every-changing. Thus, only an extremely large textbook would even begin to explain their intricacies. The following is presented just to provide you with a very basic foreclosure and short sale education.  Continue reading

THOSE NAUGHTY DEBT COLLECTORS

Debt collectors are heavily regulated by federal and California state laws. The California Fair Debt Collection Practices Act (California Civil Code Section 1788.30, also known as the Rosenthal Act) mirrors the federal Fair Debt Collection Practices Act (15 U.S.C.A. Section 1692k). Such strict governance is required to control a field where threats and offensive language are known to be very effective tactics to extract payments from debtors.  Continue reading

WHAT IS MEDICAL MALPRACTICE?

“Medical malpractice” refers to actions for personal injury against a healthcare provider based on professional negligence. The term is most often used to apply to law suits brought by patients against physicians as a result of getting “bad care.” However, “healthcare provider” also includes nurse practitioners, physician assistants, dentists, chiropractors, and anyone else holding a healthcare license.  Continue reading

WHAT IS A LIVING TRUST?

Upon death a person’s property is distributed according to whether the property is classified as probate or non-probate. Generally, non-probate property includes property owned by joint tenancy, life insurance, legal life estates, and inter vivos trusts. Probate property is everything else whether named in your will (testate property) or not (intestate property).  Continue reading

MEDICAL MALPRACTICE – SHOULD YOU GET SECOND OPINIONS?

With regard to potential case evaluation, law is as much about opinion as it is about facts. The good medical malpractice case will have substantial injury as a result of medical services done below the standard of care. Both damages and poor practice are needed. Opinions differ greatly as to what constitutes substantial damages and poor practice.  Continue reading

WHEN IS A SHORT SALE BENEFICIAL?

As was covered in another F&M’s post, in California purchase money loans on primary residences are considered non-recourse which means that in certain instances, the only thing a lender can do to a nonpaying borrower is take the home, and that borrower faces no personal liability for the debt. However, many California

homeowners have taken cash out of their homes through refinancing and home equity lines of credit. Such cash-out borrowers do not enjoy complete immunity from personal liability.  Continue reading

CREDIT SCORES – WHY SHOULD YOU CARE?

For the last decade the media has pounded into the heads of American consumers that having a high credit score is the key to financial success. It should come as no surprise that the funding for all those commercials and PSA’s came from lenders, both mortgage companies and credit card providers. Of course lenders want people to pay their debts, and by creating a false pride in the “scores,” those debts have a better chance of getting paid.  Continue reading

WHEN COUPLES DIVORCE, WHO HAS TO KEEP THE HOUSE?

The major battles for divorcing couples used to be custody of children and possession of community assets. That was the rule for as long as people remember. However, in today’s economy, the only valuables in many marriages are children. Prior to the real estate meltdown, divorcing couples would litigate over ownership of the family home, and such a fight was worth every penny spent, because ownership in real estate was a great investment.  Continue reading