Legal Updates

HAMP is Ineffective: House moved to kill HAMP – Mar. 29, 2011: Ventura Short Sales

by Gary and Lisa Schoeffler April 3, 2011 Legal Updates

The program taps the federal bailout that saved the big banks, providing incentives to mortgage servicers to modify mortgages for borrowers behind on their payments.

“To many struggling Americans seeking permanent mortgage relief, HAMP offered little more than false hope. More homeowners have been kicked out of the program than have received permanent relief,” Rep. Darrell …

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photo of capitol building

New California Law offers Relief from Deficiency Balances

by Gary and Lisa Schoeffler January 22, 2011 Legal Updates

Image via Wikipedia

If you have been resisting a short sale on your home out of concern that the bank will come after you for the deficiency, you are not alone!  SB 931, effective January 1, 2011, will resolve that issue for many California homeowners.

With passage of SB 931, after the short sale of a …

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Thumbnail image for FTC bans advance fees for loan mod help | Inman News / Ventura Real Estate

FTC bans advance fees for loan mod help | Inman News / Ventura Real Estate

by Gary and Lisa Schoeffler November 22, 2010 Legal Updates

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By Inman News, Monday, November 22, 2010.

Inman News

For-profit companies that provide “foreclosure rescue” and loan modification services will be barred from collecting fees in advance beginning Jan. 31 under new rules issued by the Federal Trade Commission.

The FTC’s Mortgage Assistance Relief Services (MARS) rule prohibits for-profit mortgage-relief companies from …

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California Legislature approves tax break for people in foreclosures, short sales

by Gary and Lisa Schoeffler April 10, 2010 Legal Updates

Gov. Arnold Schwarzenegger said he would sign the measure, which would also provide about $60 million in tax credits to green-energy companies, when it reached his desk. Californians can already claim the tax breaks on federal returns. Lawmakers passed the measure in time for people to take advantage of it by the April 15 deadline …

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California Legislature extends homebuyer tax credit

by Gary and Lisa Schoeffler March 24, 2010 First Time Home Buyer

The Associated Press

Published: Monday, Mar. 22, 2010 – 6:22 pm

SACRAMENTO, Calif. — California lawmakers have voted to extend a $10,000 tax credit for first-time home buyers.

 The credit will apply to first-time buyers who purchase new or existing homes between May 1 and Dec. 31 of this year. It is for 5 percent of the purchase …

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Thumbnail image for Getting Organized at Tax Time May Save Time and Money

Getting Organized at Tax Time May Save Time and Money

by Gary and Lisa Schoeffler January 15, 2010 Legal Updates

Is Tax Time a scramble to get your paperwork together? Once your taxes are filed, do you shove those important papers in a drawer or box? This year, why not break this habbit of disorganization, and use tax time as an opportunity to permanently give order to your personal and financial affairs?

In the case of …

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Thumbnail image for The City of Oxnard Floodplain Map Update and Fact Sheet – Ventura Real Estate

The City of Oxnard Floodplain Map Update and Fact Sheet – Ventura Real Estate

by Gary and Lisa Schoeffler November 8, 2009 Legal Updates

After attending a meeting regarding the Floodplain Map Update and flood insurance issues, the fact sheet and map below are the most current information available.

City of Oxnard FEMA floodplain fact sheet

The Federal Emergency Management Agency (FEMA) is responsible for periodic review of existing Flood Insurance
Rate Maps (FIRMs) for communities, such as Oxnard, that have joined …

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Thumbnail image for First Time Homebuyer Tax Credit Extended Into 2010! Ventura Real Estate

First Time Homebuyer Tax Credit Extended Into 2010! Ventura Real Estate

by Gary and Lisa Schoeffler November 6, 2009 First Time Home Buyer

First Time Homebuyer Tax Credit Extended Into 2010!
Plus…A New Tax Credit for Certain Existing Home Owners!
It’s official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.

In addition to extending the tax credit …

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