KORB LAW GROUP REAL ESTATE LAW BLOG

A Summary of Disclosure Duties When Selling Residential Real Property In California

admin — Wed, 02 May 2012 18:51:05 +0000

By: Richard Korb, Esq.[1] and Kevin Liu In California, the duties regarding disclosure are an integral part of real property transactions. Below are some of the key California and federal disclosure requirements of which you should be aware when buying or selling Residential Real Property. Disclosures Required of a Seller and/or a Real Estate Broker …

Real Estate Purchase-Sale Disputes And Non-Disclosure Laws

admin — Wed, 29 Feb 2012 23:28:32 +0000

By: Richard E. Korb[1] Fraud and Non-Disclosure of Defects Fraud occurs when one person or business uses intentional deceit or trickery, misrepresentation or concealment to obtain value or gain an unfair advantage over another. In California, courts also recognize “negligent” misrepresentation as a form of fraud in some cases. For example, under California Real Estate …

Comparing Loan Modification, Short Sale, and Foreclosure

admin — Thu, 29 Dec 2011 08:22:29 +0000

Comparing Loan Modification, Short Sale, and Foreclosure By: Richard E. Korb[1] ©2010 RICHARD E. KORB With unemployment rates remaining high and the economy struggling to recover from the great recession, many Americans are stuck in a daily struggle to meet mortgage payments and keep their homes. While foreclosure is considered the standard means for dealing …

Understanding Judicial And Non-Judicial Foreclosure In California

admin — Thu, 29 Dec 2011 08:21:32 +0000

Understanding Judicial And Non-Judicial Foreclosure In California By: Richard E.Korb[1] Foreclosures come in a small variety of forms. The most common form of foreclosure in the United States, until the mid-19th century, was judicial foreclosure. Judicial Foreclosure was eventually seen as too expensive and time-consuming, so lenders asked state legislatures for a faster, …

Facing Foreclosure In California? The Pros & Cons of Loan Modification, Short Sales and Foreclosure

admin — Thu, 29 Dec 2011 08:20:36 +0000

Facing Foreclosure In California? The Pros & Cons of Loan Modification, Short Sales and Foreclosure By: Richard E. Korb[1] You’re likely reading this because you or someone you care about is experiencing financial hardship. You’re also likely a property owner, and like many from your generation saw home ownership as living the American Dream. But …

The Home Affordability and Stability Act To Combat Home Foreclosure

admin — Thu, 29 Dec 2011 08:19:39 +0000

The Home Affordability and Stability Act And Home Foreclosure By: Richard E. Korb[1] In 2008, the housing bubble ended and the housing market was in panic. Many homeowners were having their houses foreclosed with little room for recourse. In response, President Obama announced in 2009 that a new Home Affordability and Stability Act (HASA) …

Successfully Defending A Homeowner Facing A Foreclosure Action In California

admin — Thu, 29 Dec 2011 08:17:46 +0000

By: Richard E. Korb©2011[1] Successful defenses against foreclosures have become more common in California since the 2008 housing market crash. In fact, there have been several important cases in the past 3 years that are changing the way the courts view the foreclosure process. Judicial vs. Non-Judicial Foreclosure In the state of California, the …

Foreclosure And Anti-Deficiency Laws in California: Can Your Lender Come After You?

admin — Thu, 29 Dec 2011 08:16:36 +0000

Foreclosure And Anti-Deficiency Laws in California: Can Your Lender Come After You? By: Richard E. Korb[1] Your house is underwater, upside down, facing foreclosure, etc. Your house is now valued less than the loan you used to afford it. This means the proceeds of its sale will not be enough to pay back the loan on …

Mortgage Default:The Pros And Cons Of Walking Away From Your Home

admin — Thu, 29 Dec 2011 08:12:34 +0000

By: Richard E. Korb. ©2011[1] It’s no secret that in California—and all across America—the housing market is in a crisis and foreclosures continue to mount. With housing prices dropping, some homeowners have found themselves in the unenvied position of owing a greater debt on their property than the property itself is worth. In technical terms, …

The Mortgage Crisis: Bank Foreclosure Fraud And How It Can Affect You

admin — Thu, 29 Dec 2011 08:11:39 +0000

By Richard E. Korb, attorney ©2011[1] On April 1st, 2011, the news organization 60 Minutes ran a story entitled “Mortgage Paperwork Mess: Next Housing Shock?” investigating the recent phenomenon of mortgage fraud by a number of big banks—including such well-known names as Wells Fargo, Citibank, Bank of America, U.S. Bank, HSBC and Deustche Bank. Though …