Number of weekly distressed homeownership cases falls once again
For the third consecutive week, the total number of mortgage loans in forbearance fell. According to the Mortgage Bankers Association, the rate fell by nearly 9 percent in the last week of June. In addition, Fannie Mae and Freddie Mac loans in forbearance statuses...
Information Regarding a Failure to Disclose
Have you ever purchased a house and years later discovered defects with the property? This could be a potential failure to disclose by the seller. A seller has a duty to disclose material defects regarding the subject property to the buyer. Typically, there is a...
Increase in For Sale by Owner transactions
Due to unprecedented times, we are seeing changes in the real estate market. A recent trend we are witnessing is a for sale by owner of real property. This essentially happens when there is a meeting of the minds between a buyer and seller. Typically, a home would be...
Landlords call on Gov. Newsom to offer rent financial assistance
Everyone is hurting financially at the moment due to the COVID-19 crisis. That goes for anyone who has lost their job, had their hours cut, is currently sick or taking care of someone who is sick. This includes landlords and tenants alike. Tenants in California have...
California Court leadership halts all evictions
More news on the eviction front has come about this week as judicial leaders in California have halted evictions in the midst of the COVID-19 crisis. What this means is that not just eviction cases related to the inability to pay rent, but all evictions have been...
What you should know about mortgage forbearance
Some 3.4 million mortgages are currently in forbearance as a result of COVID-19. That is according to a recent report from Black Knight. Further, in March, mortgage delinquency increased by 3.39 percent, the first time that month has seen a jump since the “turn of the...
California implements statewide temporary eviction ban for those impacted by COVID-19
California Gov. Gavin Newsom announced on March 27 that evictions are now temporarily banned in the state for those tenants who have been hit hard financially by the COVID-19 (Coronavirus) crisis. This new ordinance applies to those who have to take care of a relative...
New law prevents property owners from declining Section 8 tenants
Under a new law (SB 329), property owners are not allowed to refuse renting out to Section 8 tenants. Under the law, this would be considered discrimination based on source of income. Instead, such tenants would be allowed to go under the same vetting process as...
Rent increases higher than 10 percent now require a 90-day notice
A New California law has expanded the number of days a landlord has to give warning to tenants prior to high increases in rent. The new law (AB 1110) increases the timeframe from 60 days to 90 days for increases 10 percent and above. For lower increases in rent (less...
Real estate agents can continue to be considered independent contractors under AB 5
You may have heard about the passage of a new California law that designates most workers traditionally labeled as independent contractors as employees instead. In an attempt to provide independent contractors with employee benefits such as health insurance, paid...