Mechanics’ Liens

California Mechanics’ Lien law provides special protection to contractors, subcontractors, laborers and suppliers who furnish labor or material to repair, remodel or build your home. If any of these people are not paid for the services or materials they have provided, you home may be subject to a mechanics’ lien and eventual sale in a …

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What you should know about balloon loans

A balloon mortgage is one on which the outstanding balance is due at some point before amortization has paid off the balance in full. Aside from the repayment obligation, balloon loans are identical to standard fixed-rate mortgages (FRMs). For example, if a five-year balloon loan for $100,000 is at 5 percent for 30 years, the …

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Refi before sale can backfire

Homeowners who anticipate that they will be selling their house within a few years want to net as much from the sale as possible. The usage of the verb “net” indicates that what matters is not how much they receive for the house but how much they have left after repaying the mortgage. Real estate …

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Servicers Expand to Assist Distressed Homeowners

With delinquent mortgages at unprecedented levels, sheer market conditions command a staff the size of a small army dedicated to working with distressed borrowers. Servicers have added thousands to their loss mitigation teams over the past few years and most are still recruiting. Wells Fargo has hired and trained 10,000 additional people to work with …

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