OK folks.....The storms went through the Richmond area last night and did some damage on the northside of town. Luckily, nobody got hurt! Just lots of tree limbs and power lines down, but many landed on cars and homes!
So I found this article online that if you or someone you know had damage, then you need to read this or print it out for them...........Good Luck!!
October 28, 2010--Fall brings the tall end of hurricane season and also tornadoes throughout the country. For this, Allstate is providing these simple steps for customers and families to help during the recovery.
* Make sure your home is structurally safe. Be extremely careful inside your home. Debris may be hazardous and the potential for collapse may exist. You may want to retrieve personal items, but if you're told by authorities to stay out, stay out. It's for your own safety.
* Have necessary temporary repairs made to prevent further damage, keeping receipts for work performed.
* If your home is uninhabitable, find out what living expenses your homeowners or renters insurance policy may cover.
* Be patient and assist claims adjusters assigned to your case. Small losses may be settled quickly; extensive claims will take longer.
* Notify creditors if bills have been lost or you're unable to pay.
* Consider calling your utility company and ask them to stop billing if your home has been destroyed.
* Report your claim to insurance company promptly.
* Prepare to file an insurance claim by gathering all relevant policy numbers.
* Inventory your home for damaged or lost items before your adjuster arrives. This will help speed up your claim process.
* Work with a qualified tax expert to find out about tax breaks for which you may be eligible because of your losses.
Thursday, October 28, 2010
Tuesday, October 26, 2010
Protect Your Identity
This blog is a little long, but if you are concerned about identity theft, you NEED to read this!
Identity Thieves Are Crafty, Prolific
By Claudia Buck
RISMEDIA, October 26, 2010--(MCT)--It's everywhere you don't want it to be. From skimming your debit card at a gas pump to phony financial e-mails hitting your cell phone or computer, identity theft is as crafty as it is continuous.
More than 11 million of us fell victim to identity theft last year, according to an annual report by Javelin Strategy & Research.
"It's really the crime that won't go away. It's so insidious," said Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling, which launched national Protect Your Identity week with the Council of Better Business Bureaus.
It also can be costly, in both time and money. The average victim of identity theft in 2009 lost $4,840 and spent 21 hours coping with the aftermath, according to Javelin's study of 5,000 U.S. consumers.
The motives of identity thieves are usually the same: to swipe your personal or financial information and use it to drain accounts, open credit cards and engage in other financial mayhem in your name.
Recently, California investigators charged three Los Angeles men with 42 counts of felony identity theft for allegedly using illegal electronic devices to skim debit and credit card numbers at seven Northern California gas station pumps, including one in the Sacramento area. They allegedly stole more than $160,000 from about 200 consumers.
Also last week, the state Franchise Tax Board and Board of Equalization warned Californians of phony e-mails to taxpayers stating that their electronic tax payments did not go through. The e-mails are an apparent attempt to electronically fish for personal data, the tax agencies said.
As a form of identity theft, these so-called "phishing scams" continually surface. The IRS, banks and other organizations regularly warn consumers about fraudulent e-mails or texts.
How can you avoid this type of identity theft? Don't respond to any request to verify your account number or password. Legitimate companies or government agencies will typically request information by letter, not in an e-mail or cell phone text.
And while identity theft can happen anywhere to almost anyone, here are some other known risks and how to avoid them:
In a tight-fisted job market, scammers prey on people's urgency to find work.
"People have gotten more desperate and have let down their guard," said Linda Foley, founder of the nonprofit Identity Theft Resource Center in San Diego. "They're taking chances with (job) ads they never would have responded to before or giving out personal information in hopes someone will hire (them)."
In some cases, phony online ads ask that a resume include a Social Security number. Or applicants are asked to bring personal documents to a location that's not a real office, but an empty storefront.
"It's buyer beware," said Foley. "If you can't see a person face to face or cannot check out the company by doing basic homework," be wary.
Limit personal information on your resume, she added. Include your e-mail address and telephone, not necessarily a home address, and never a Social Security number.
Believe it or not, children under 18 can become identity theft victims if someone uses their name and Social Security number to commit fraud.
According to the California Office of Privacy Protection, children may be targets "because the crime can go undetected for years, often until the child applies for his or her first loan or credit card."
The signs of possible child identity theft: bills, credit cards or debt collection notices coming to your home in your child's name. However, in some cases, a pre-approved credit card offer might simply be a marketing tool because you've opened a bank account or college fund in your child's name. If that's the case, ask your bank to remove your child's name from its marketing lists.
If you suspect your child's identity has been fraudulently used, check with the three credit reporting bureaus (Equifax, Experian and TransUnion) to see if a credit report exists in your child's name. Call their (800) numbers and provide your child's name and Social Security number.
If no credit report is found, it's good news. If a credit report exists, it means someone likely opened an account using your child's name. Explain the situation to the bureau and get steps on how to clear your child's credit file, including a freeze so the file can't be accessed.
In general, be stingy in giving out your child's Social Security number for school, sports or extracurricular activities. "Guard that number as carefully as you guard your child walking to school," Foley said.
When your child's number is requested, she said, ask questions: Why do you need it? If I don't provide it, is there an alternative form of ID?
Crowded malls, harried shoppers, lots of financial transactions: The upcoming holidays can be prime time for identity thieves. Above all, the best prevention is awareness — of your surroundings, your cash, your credit cards, your purse or wallet. Also:
—Never carry large amounts of cash, or your Social Security card.
—If you're not using a checkbook, keep it safe at home. Lighten your wallet or purse; if either are stolen, your losses will be fewer.
—Be careful using ATMs. If someone is standing too close, ask them to move away. If something looks amiss on the machine, go somewhere else and report it.
—Make copies, front and back, of all credit cards so you can easily report a loss or fraudulent charges.
—Reconcile restaurant receipts to be sure the meal amount and tip match what's on your bank statement.
—Check your online statements regularly to be sure all purchases are yours. Same for credit card or bank statements that come in the mail.
—When shopping online, always check to be sure you're on a company's official website, not a lookalike. Cybercrooks often change a letter or two to create phony web addresses designed to lure innocent shoppers.
SHRED 'N' DESTROY
Identity theft experts say one of the most basic precautions is to shred any personal or financial paperwork. You can buy an inexpensive shredder for home or office use or haul the paper to a free shredding event. There also are mobile shredding companies that will come to your home or office for a charge.
For electronics, when you're done with those old cell phones, printers, hard drives or scanners, don't just donate or toss them in the trash, without first erasing all personal data.
"They all capture digital images and personal data such as passwords. If you just throw these away, someone savvy enough can get that personal information and steal your identity," said Katie Robison, spokeswoman for the local Better Business Bureau.
"Fighting identity theft is a constant battle, and the attacks can come at you from all fronts," Barry Goggin, president and CEO of the West Sacramento-based BBB, said in a recent statement. "Because we are all potential victims, it's important that we all take steps to fight identity theft."
(c) 2010, The Sacramento Bee (Sacramento, Calif.).
Distributed by McClatchy-Tribune Information Services.
Identity Thieves Are Crafty, Prolific
By Claudia Buck
RISMEDIA, October 26, 2010--(MCT)--It's everywhere you don't want it to be. From skimming your debit card at a gas pump to phony financial e-mails hitting your cell phone or computer, identity theft is as crafty as it is continuous.
More than 11 million of us fell victim to identity theft last year, according to an annual report by Javelin Strategy & Research.
"It's really the crime that won't go away. It's so insidious," said Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling, which launched national Protect Your Identity week with the Council of Better Business Bureaus.
It also can be costly, in both time and money. The average victim of identity theft in 2009 lost $4,840 and spent 21 hours coping with the aftermath, according to Javelin's study of 5,000 U.S. consumers.
The motives of identity thieves are usually the same: to swipe your personal or financial information and use it to drain accounts, open credit cards and engage in other financial mayhem in your name.
Recently, California investigators charged three Los Angeles men with 42 counts of felony identity theft for allegedly using illegal electronic devices to skim debit and credit card numbers at seven Northern California gas station pumps, including one in the Sacramento area. They allegedly stole more than $160,000 from about 200 consumers.
Also last week, the state Franchise Tax Board and Board of Equalization warned Californians of phony e-mails to taxpayers stating that their electronic tax payments did not go through. The e-mails are an apparent attempt to electronically fish for personal data, the tax agencies said.
As a form of identity theft, these so-called "phishing scams" continually surface. The IRS, banks and other organizations regularly warn consumers about fraudulent e-mails or texts.
How can you avoid this type of identity theft? Don't respond to any request to verify your account number or password. Legitimate companies or government agencies will typically request information by letter, not in an e-mail or cell phone text.
And while identity theft can happen anywhere to almost anyone, here are some other known risks and how to avoid them:
In a tight-fisted job market, scammers prey on people's urgency to find work.
"People have gotten more desperate and have let down their guard," said Linda Foley, founder of the nonprofit Identity Theft Resource Center in San Diego. "They're taking chances with (job) ads they never would have responded to before or giving out personal information in hopes someone will hire (them)."
In some cases, phony online ads ask that a resume include a Social Security number. Or applicants are asked to bring personal documents to a location that's not a real office, but an empty storefront.
"It's buyer beware," said Foley. "If you can't see a person face to face or cannot check out the company by doing basic homework," be wary.
Limit personal information on your resume, she added. Include your e-mail address and telephone, not necessarily a home address, and never a Social Security number.
Believe it or not, children under 18 can become identity theft victims if someone uses their name and Social Security number to commit fraud.
According to the California Office of Privacy Protection, children may be targets "because the crime can go undetected for years, often until the child applies for his or her first loan or credit card."
The signs of possible child identity theft: bills, credit cards or debt collection notices coming to your home in your child's name. However, in some cases, a pre-approved credit card offer might simply be a marketing tool because you've opened a bank account or college fund in your child's name. If that's the case, ask your bank to remove your child's name from its marketing lists.
If you suspect your child's identity has been fraudulently used, check with the three credit reporting bureaus (Equifax, Experian and TransUnion) to see if a credit report exists in your child's name. Call their (800) numbers and provide your child's name and Social Security number.
If no credit report is found, it's good news. If a credit report exists, it means someone likely opened an account using your child's name. Explain the situation to the bureau and get steps on how to clear your child's credit file, including a freeze so the file can't be accessed.
In general, be stingy in giving out your child's Social Security number for school, sports or extracurricular activities. "Guard that number as carefully as you guard your child walking to school," Foley said.
When your child's number is requested, she said, ask questions: Why do you need it? If I don't provide it, is there an alternative form of ID?
Crowded malls, harried shoppers, lots of financial transactions: The upcoming holidays can be prime time for identity thieves. Above all, the best prevention is awareness — of your surroundings, your cash, your credit cards, your purse or wallet. Also:
—Never carry large amounts of cash, or your Social Security card.
—If you're not using a checkbook, keep it safe at home. Lighten your wallet or purse; if either are stolen, your losses will be fewer.
—Be careful using ATMs. If someone is standing too close, ask them to move away. If something looks amiss on the machine, go somewhere else and report it.
—Make copies, front and back, of all credit cards so you can easily report a loss or fraudulent charges.
—Reconcile restaurant receipts to be sure the meal amount and tip match what's on your bank statement.
—Check your online statements regularly to be sure all purchases are yours. Same for credit card or bank statements that come in the mail.
—When shopping online, always check to be sure you're on a company's official website, not a lookalike. Cybercrooks often change a letter or two to create phony web addresses designed to lure innocent shoppers.
SHRED 'N' DESTROY
Identity theft experts say one of the most basic precautions is to shred any personal or financial paperwork. You can buy an inexpensive shredder for home or office use or haul the paper to a free shredding event. There also are mobile shredding companies that will come to your home or office for a charge.
For electronics, when you're done with those old cell phones, printers, hard drives or scanners, don't just donate or toss them in the trash, without first erasing all personal data.
"They all capture digital images and personal data such as passwords. If you just throw these away, someone savvy enough can get that personal information and steal your identity," said Katie Robison, spokeswoman for the local Better Business Bureau.
"Fighting identity theft is a constant battle, and the attacks can come at you from all fronts," Barry Goggin, president and CEO of the West Sacramento-based BBB, said in a recent statement. "Because we are all potential victims, it's important that we all take steps to fight identity theft."
(c) 2010, The Sacramento Bee (Sacramento, Calif.).
Distributed by McClatchy-Tribune Information Services.
14 Things to Consider Before Buying a Home
By Diane Benson Harrington (Article pulled from http://www.move.com/)
Don't let your emotions cloud your judgment!
Wait! That house may seem like everything you’ve ever wanted, but before you make an offer, take some time to consider a few things beyond the size, style and price.
When buying a home, it’s easy to let emotions get in the way of reality, or get sudden amnesia about factors that may make a difference.
"Sometimes we want something so badly, we’re not willing to ask all the questions we should,” says Leslie Levine, author of "Will This Place Ever Feel Like Home?"
For instance, she says, you may see a basketball hoop over the garage and assume the neighborhood is great for kids. But a closer inspection may show that it’s rusted and hasn’t seen a ball in a decade, and that other yards in the neighborhood have no jungle gyms or tire swings out back.
1. Visit at various times of day
The windows that let in so much light during the day may be a peeping Tom’s dream at night. That seemingly quiet residential street may be a noisy, highway-feeder street during morning or evening rush hour; or it may be near impossible to get from your quiet street across traffic and onto the feeder street in the morning. The adjacent school may seem like a nice perk if you’re buying in the summer, but during the school year, daily playground noise and extra traffic may be more than you bargained for.
2. Look through recent newspaper archives
“Make sure you’re getting information on what you can’t see,” Levine suggests. Perhaps the municipal water well that feeds your neighborhood has high levels of contaminants or a proposed high-voltage power line may soon be coming through your back yard. You can also check with the city or county to see if there are any proposed projects.
3. Talk to neighbors
How many people in the neighborhood own their homes? Sometimes it’s hard to tell at first if you’re choosing a neighborhood that’s primarily rental houses.
4. Ask if the neighborhood has an association
“Is there a newsletter for it? How often does the neighborhood get together? Do they have a block party every year?” Levine asks. “Even if you don’t plan to attend, the fact that they’re having a gathering says they care about their community, that they want to get to know each other, that they’re willing to socialize that way. People who behave that way are building a community. They’re going to look out for your kids; they’re going to look out for your house. It’s a nice, safe way to celebrate something.”
5. Quiz the sellers
What problems are they aware of that the house had in the past – even if they’ve been fixed? An ice dam five years ago may have caused water damage that has since been repaired. But it’s good to know that the house may be prone to ice dams so you can take preventive measures rather than find out the hard way. Discovering the basement flooding was solved by building up the landscaping in a particular area will prevent you from leveling the ground there in later years.
6. Get a home inspection
Virtually all houses have defects, according to National Association of Exclusive Buyers Agents. Some will be obvious and most will be curable. But knowing what needs fixing can help you negotiate a lower price – or at least prepare you for costs you’re soon to incur. Strongly consider getting inspections, too, for lead paint, radon and wood-eating pests.
7. Get detailed records on past improvements
This isn’t always possible. But if you’re told the house’s exterior was painted two years ago – and then see a receipt noting the whole project cost just $1,000 – then you’ll be forewarned that cheaper materials were used and that you may be looking at repainting sooner than you thought.
8. Don’t just assume remodeling will be a snap
If you voice your ideas to the sellers, you may be able to glean valuable insights. For instance, perhaps that shower is in an odd location because, when remodeling 10 years ago, the previous owners discovered a costly structural impediment to putting a shower where it would seem more appropriate.
9. Consider the view
“So many neighborhoods now have teardowns. So look at the two houses on either side of you. If this neighborhood has had some teardowns, one of those houses might be a candidate. And they may build some behemoth structure that affects your light or the way your house looks or your view,” Levine says.
10. Ask for utility bills
You may adore the Cape Cod architectural style or the high ceilings and walls of glass in a modern home – but those winter heating and summer cooling bills may push your monthly payments beyond affordable. Ditto for the water bills you’ll pay to maintain a pristine landscape.
11. Pay close attention to taxes
Don’t just ask what the seller’s most recent tax bill was; ask what several recent tax bills have been. In some areas, houses are re-appraised – and taxed at higher rates – frequently. That great deal and good investment may not seem quite so grand if the property taxes skyrocket year after year. Again, look at newspaper archives or talk to your Realtor about the way taxes are used in this area. In some cities, schools are substantially funded through property taxes – which means you can count on yours increasing regularly.
12. Check with city hall
NAEBA recommends looking into the property’s and neighborhood’s zoning, as well as any potential easements, liens or other restrictions relating to your property. The seller should disclose these facts, but it’s better to be safe. If you’re using a buyer’s agent, he or she should be able to help you with this.
13. Reconsider the bells and whistles
Are you sure you can live with a one-car garage, or a detached garage, or on-street parking? The pool may be a nice bonus, but can you afford the upkeep?
14. Explore the surrounding area
If you’re not just making a cross-town move, you may not know that only three blocks away, this pretty neighborhood backs up to a dumpy commercial area or a less-than-savory part of town. If the home is near an airport, fire station, police station, hospital or railroad track, expect to hear trains, planes or ambulances throughout the day and night. Make sure you’re not too close to an agricultural area that may generate odors or kick up dust or other airborne problems.
Woody's take on this article:
DON"T ASSUME!!! Don't rely strickly on what you are told! Check it out for yourself. With todays internet, you can research alot on line from home. Your Realtor can tell you which county department to talk to about other issues. Be careful, as some people, including "some Realtors" don't even know where the county offices are located!
Don't let your emotions cloud your judgment!
Wait! That house may seem like everything you’ve ever wanted, but before you make an offer, take some time to consider a few things beyond the size, style and price.
When buying a home, it’s easy to let emotions get in the way of reality, or get sudden amnesia about factors that may make a difference.
"Sometimes we want something so badly, we’re not willing to ask all the questions we should,” says Leslie Levine, author of "Will This Place Ever Feel Like Home?"
For instance, she says, you may see a basketball hoop over the garage and assume the neighborhood is great for kids. But a closer inspection may show that it’s rusted and hasn’t seen a ball in a decade, and that other yards in the neighborhood have no jungle gyms or tire swings out back.
1. Visit at various times of day
The windows that let in so much light during the day may be a peeping Tom’s dream at night. That seemingly quiet residential street may be a noisy, highway-feeder street during morning or evening rush hour; or it may be near impossible to get from your quiet street across traffic and onto the feeder street in the morning. The adjacent school may seem like a nice perk if you’re buying in the summer, but during the school year, daily playground noise and extra traffic may be more than you bargained for.
2. Look through recent newspaper archives
“Make sure you’re getting information on what you can’t see,” Levine suggests. Perhaps the municipal water well that feeds your neighborhood has high levels of contaminants or a proposed high-voltage power line may soon be coming through your back yard. You can also check with the city or county to see if there are any proposed projects.
3. Talk to neighbors
How many people in the neighborhood own their homes? Sometimes it’s hard to tell at first if you’re choosing a neighborhood that’s primarily rental houses.
4. Ask if the neighborhood has an association
“Is there a newsletter for it? How often does the neighborhood get together? Do they have a block party every year?” Levine asks. “Even if you don’t plan to attend, the fact that they’re having a gathering says they care about their community, that they want to get to know each other, that they’re willing to socialize that way. People who behave that way are building a community. They’re going to look out for your kids; they’re going to look out for your house. It’s a nice, safe way to celebrate something.”
5. Quiz the sellers
What problems are they aware of that the house had in the past – even if they’ve been fixed? An ice dam five years ago may have caused water damage that has since been repaired. But it’s good to know that the house may be prone to ice dams so you can take preventive measures rather than find out the hard way. Discovering the basement flooding was solved by building up the landscaping in a particular area will prevent you from leveling the ground there in later years.
6. Get a home inspection
Virtually all houses have defects, according to National Association of Exclusive Buyers Agents. Some will be obvious and most will be curable. But knowing what needs fixing can help you negotiate a lower price – or at least prepare you for costs you’re soon to incur. Strongly consider getting inspections, too, for lead paint, radon and wood-eating pests.
7. Get detailed records on past improvements
This isn’t always possible. But if you’re told the house’s exterior was painted two years ago – and then see a receipt noting the whole project cost just $1,000 – then you’ll be forewarned that cheaper materials were used and that you may be looking at repainting sooner than you thought.
8. Don’t just assume remodeling will be a snap
If you voice your ideas to the sellers, you may be able to glean valuable insights. For instance, perhaps that shower is in an odd location because, when remodeling 10 years ago, the previous owners discovered a costly structural impediment to putting a shower where it would seem more appropriate.
9. Consider the view
“So many neighborhoods now have teardowns. So look at the two houses on either side of you. If this neighborhood has had some teardowns, one of those houses might be a candidate. And they may build some behemoth structure that affects your light or the way your house looks or your view,” Levine says.
10. Ask for utility bills
You may adore the Cape Cod architectural style or the high ceilings and walls of glass in a modern home – but those winter heating and summer cooling bills may push your monthly payments beyond affordable. Ditto for the water bills you’ll pay to maintain a pristine landscape.
11. Pay close attention to taxes
Don’t just ask what the seller’s most recent tax bill was; ask what several recent tax bills have been. In some areas, houses are re-appraised – and taxed at higher rates – frequently. That great deal and good investment may not seem quite so grand if the property taxes skyrocket year after year. Again, look at newspaper archives or talk to your Realtor about the way taxes are used in this area. In some cities, schools are substantially funded through property taxes – which means you can count on yours increasing regularly.
12. Check with city hall
NAEBA recommends looking into the property’s and neighborhood’s zoning, as well as any potential easements, liens or other restrictions relating to your property. The seller should disclose these facts, but it’s better to be safe. If you’re using a buyer’s agent, he or she should be able to help you with this.
13. Reconsider the bells and whistles
Are you sure you can live with a one-car garage, or a detached garage, or on-street parking? The pool may be a nice bonus, but can you afford the upkeep?
14. Explore the surrounding area
If you’re not just making a cross-town move, you may not know that only three blocks away, this pretty neighborhood backs up to a dumpy commercial area or a less-than-savory part of town. If the home is near an airport, fire station, police station, hospital or railroad track, expect to hear trains, planes or ambulances throughout the day and night. Make sure you’re not too close to an agricultural area that may generate odors or kick up dust or other airborne problems.
Woody's take on this article:
DON"T ASSUME!!! Don't rely strickly on what you are told! Check it out for yourself. With todays internet, you can research alot on line from home. Your Realtor can tell you which county department to talk to about other issues. Be careful, as some people, including "some Realtors" don't even know where the county offices are located!
Wednesday, October 13, 2010
Do I Smell A RAT???
As anybody that has listened to the news or read the newspaper lately, I'm sure you have heard about the major banks stopping foreclosures. Well, let me clarify......the banks didn't stop themselves, they were stopped by judges. In other words, they weren't playing by the rules, and some judges slapped their hands.
Now, I'm not sure I understand it all, but I'll try to explain it in plain english. Several banks formed an "organization" known as MERS (not sure what the letters stand for) that assists these banks in transfering blocks of loans between each other. To this day, I don't understand why they keep buying and selling these blocks back and forth. Why not keep the loans you did?
Anyway, when these blocks get transferred from 1 bank to another, the title has to be transferred to the new bank. Now, this is true for some states, but not all (more lawyers just got a new job). When the title is transferred, it has to be recorded at the courthouse, and a fee paid. Well, MERS was set up to get around the new title and title fees, thus saving alot of time and $$$$$$ for the big banks!
Well, somebody got one of these transfers in front of a judge, and the ruling was that the new bank doesn't own the loan, without transferring title. Does that mean that the new bank doesn't have the right to collect the loan payments? As you can see, this goes deeper than most of us knew.
Now, I am not against foreclosure. If a person fails to make the payments, the bank has the right to foreclose. But, with everything else going on today, the banks also need to back off some and use some "common sense", which I think, is in short supply today.
And then, you have the homes that were bought in 2005-2007 at market value. And now in 2010, the value of the home has dropped from 5-35% (depending on where you live), and the homeowner hasn't missed a payment. Now the owner wants to sell to buy a larger home, or has a better job offer and needs to move, BUT owes more than the home can be sold for! What do they do?
That brings us to short sales, a different subject entirely, and will be discussed more at a later time.
If you have any questions about MERS or the banks stopping foreclosures, don't hesitate to email or call me at 804.712.8801
Now, I'm not sure I understand it all, but I'll try to explain it in plain english. Several banks formed an "organization" known as MERS (not sure what the letters stand for) that assists these banks in transfering blocks of loans between each other. To this day, I don't understand why they keep buying and selling these blocks back and forth. Why not keep the loans you did?
Anyway, when these blocks get transferred from 1 bank to another, the title has to be transferred to the new bank. Now, this is true for some states, but not all (more lawyers just got a new job). When the title is transferred, it has to be recorded at the courthouse, and a fee paid. Well, MERS was set up to get around the new title and title fees, thus saving alot of time and $$$$$$ for the big banks!
Well, somebody got one of these transfers in front of a judge, and the ruling was that the new bank doesn't own the loan, without transferring title. Does that mean that the new bank doesn't have the right to collect the loan payments? As you can see, this goes deeper than most of us knew.
Now, I am not against foreclosure. If a person fails to make the payments, the bank has the right to foreclose. But, with everything else going on today, the banks also need to back off some and use some "common sense", which I think, is in short supply today.
And then, you have the homes that were bought in 2005-2007 at market value. And now in 2010, the value of the home has dropped from 5-35% (depending on where you live), and the homeowner hasn't missed a payment. Now the owner wants to sell to buy a larger home, or has a better job offer and needs to move, BUT owes more than the home can be sold for! What do they do?
That brings us to short sales, a different subject entirely, and will be discussed more at a later time.
If you have any questions about MERS or the banks stopping foreclosures, don't hesitate to email or call me at 804.712.8801
Saturday, October 2, 2010
How to Stop Harassing Debt Collector Phone Calls
Paying credit cards and other unsecured debts are your lowest priority. An unsecured debt is a debt where they can't take away your car or house. A secured debt has something as collateral, such as your car, house, or anything else of value.
The most common unsecured debt is a credit card. When you stop paying them, they will call you nonstop. The reason is because they don't have any other way to collect from you.
They can't come get your car or take your house. So, they make up for that by blowing up your phone with harassing calls. In addition, they use deceptive tricks to get you to pay them. For example, there are Federal Laws that regulate what they can do or say. They aren't allowed to threaten to sue you, but then not follow thru and actually file suit. To get around this rule, they will use language that sounds legal, but isn't.
In one situation, a debt collector in Buffalo, New York named their firm Hoffman, Weinberg & O'Brien to make it sound like they were a law firm. They would then leave messages on people's answering machines. They would say they were with the office of Hoffman, Weinberg & O'Brien and then say they may resort to future legal action. In addition, they would reference case number 8306042. If you didn't know any better, you would think the case number was for an actual lawsuit against you. Scary, right?
Most credit card accounts never sue (despite the constant threats.) Even when they do sue and get a judgment, they rarely ever attempt to garnish wages. A lot of judgments expire without getting paid. But, a lot of them get paid off when a person's income increases, or that person sells a valuable asset such as a house.
Here is how to stop the harassing calls. Simply ask the person who calls for their fax number or mailing address. Then, fax or mail them a letter that requests them to stop calling you.
Here is some sample language you can put into the letter.
"Under my rights in the Fair Lending Law and the Fair Debt Collection Practices Act, I hereby request you stop any and all phone calls to me or any other person. At this time, I do not wish to speak with you, anyone at your company, or anyone representing you concerning this matter. Do not contact me by phone regarding this matter. I demand that you stop calling me at home, on my cell phone, at work, at my relatives house, or any other location. Please make any future communication with me in writing. I am aware of my rights under section 805(b)2 of the Fair Debt Collection Practices Act and am willing and able to exercise them. I am keeping track of all calls from your company and may consider recording calls."
Make sure that when you mail the letter, you send it return receipt requested. If you have access to a fax machine, then fax it out and keep the receipt. It's much easier and stops the calls quickly. Under the Fair Debt Collection Practices Act, a creditor or collection agency that calls you after you request them to stop may be liable for statutory damages up to $1,000 plus any actual damages suffered, plus attorney fees.
Another tactic you can use to shut down any debt collector is to tell them you are recording the call. They back off when they realize they are on tape. You can buy an inexpensive call recorder at Radio Shack or Amazon.com. Just hook it up to your phone and you're ready to go. In addition, you may want to keep a log of all phone calls from debt collectors. This can be useful if you ever have to go to court.
After reading the Fair Debt Collection Practices Act, in my opinion, the following acts are prohibited:
Violation #1: Call you before 8 AM or after 9PM.
Violation #2: Tell your relatives, family, or friends that you owe them money, or state that they are in the debt collection business when they contact any relatives, family, or friends.
Violation #3: Contact you after you send a written request that they cease further communication.
Violation #4: Contact you after you request they cease.
Violation #5: Threaten you with violence. In addition, they are prohibited from using obscene or profane language.
Violation #6: Publicize a list of people who owe them money.
Violation #7: Cause your phone to ring repeatedly or continuously to annoy you.
Violation #8: Call you without telling you who they are and why they are calling.
Violation #9: Mislead or falsely represent the amount owed, that they are an attorney or law firm, that if you don't pay then you'll go to jail, state or claim that you committed a crime, or threaten to take an action that is not allowed legally.
Violation #10: Not informing you that any information obtained can be used for the purpose of collecting their debt.
Violation #11: Threaten to repossess any property that they legally don't have the right to repossess. I remember hearing a lady calling a national talk show and saying that a debt collector had threatened to repossess her cat. What is this world coming to?!! That is definitely a violation! Cats, dogs, and children are not normally given as collateral against loans. This isn't the middle ages here!
Violation #12: Threaten to sue you and then not follow thru with it. In addition, they are not allowed to threaten to do anything unless they actually intend to follow thru with it.
First off, “I am NOT an attorney!” There are many good lawyers who specialize in helping consumers when a debt collector violates the act. Just google "Fair Debt Collections Lawyer." Many of them can help you at no cost out of your pocket. They will take on your case on a contingency basis and get paid from the money they collect from the debt collector.
I am not telling you to sue. Most people just want the calls to stop! Read the bottom of “page 1” again. When you get the calls, don’t forget to ask for either the fax number or their mailing address. A fax is faster, but the mail will work. And don’t forget to ask for the “return receipt”. This will cost a little, but will help if you go to court later. Keep a log on each company calling. As the saying goes…..create a paper trail!
Good Luck!!
Woody
The most common unsecured debt is a credit card. When you stop paying them, they will call you nonstop. The reason is because they don't have any other way to collect from you.
They can't come get your car or take your house. So, they make up for that by blowing up your phone with harassing calls. In addition, they use deceptive tricks to get you to pay them. For example, there are Federal Laws that regulate what they can do or say. They aren't allowed to threaten to sue you, but then not follow thru and actually file suit. To get around this rule, they will use language that sounds legal, but isn't.
In one situation, a debt collector in Buffalo, New York named their firm Hoffman, Weinberg & O'Brien to make it sound like they were a law firm. They would then leave messages on people's answering machines. They would say they were with the office of Hoffman, Weinberg & O'Brien and then say they may resort to future legal action. In addition, they would reference case number 8306042. If you didn't know any better, you would think the case number was for an actual lawsuit against you. Scary, right?
Most credit card accounts never sue (despite the constant threats.) Even when they do sue and get a judgment, they rarely ever attempt to garnish wages. A lot of judgments expire without getting paid. But, a lot of them get paid off when a person's income increases, or that person sells a valuable asset such as a house.
Here is how to stop the harassing calls. Simply ask the person who calls for their fax number or mailing address. Then, fax or mail them a letter that requests them to stop calling you.
Here is some sample language you can put into the letter.
"Under my rights in the Fair Lending Law and the Fair Debt Collection Practices Act, I hereby request you stop any and all phone calls to me or any other person. At this time, I do not wish to speak with you, anyone at your company, or anyone representing you concerning this matter. Do not contact me by phone regarding this matter. I demand that you stop calling me at home, on my cell phone, at work, at my relatives house, or any other location. Please make any future communication with me in writing. I am aware of my rights under section 805(b)2 of the Fair Debt Collection Practices Act and am willing and able to exercise them. I am keeping track of all calls from your company and may consider recording calls."
Make sure that when you mail the letter, you send it return receipt requested. If you have access to a fax machine, then fax it out and keep the receipt. It's much easier and stops the calls quickly. Under the Fair Debt Collection Practices Act, a creditor or collection agency that calls you after you request them to stop may be liable for statutory damages up to $1,000 plus any actual damages suffered, plus attorney fees.
Another tactic you can use to shut down any debt collector is to tell them you are recording the call. They back off when they realize they are on tape. You can buy an inexpensive call recorder at Radio Shack or Amazon.com. Just hook it up to your phone and you're ready to go. In addition, you may want to keep a log of all phone calls from debt collectors. This can be useful if you ever have to go to court.
After reading the Fair Debt Collection Practices Act, in my opinion, the following acts are prohibited:
Violation #1: Call you before 8 AM or after 9PM.
Violation #2: Tell your relatives, family, or friends that you owe them money, or state that they are in the debt collection business when they contact any relatives, family, or friends.
Violation #3: Contact you after you send a written request that they cease further communication.
Violation #4: Contact you after you request they cease.
Violation #5: Threaten you with violence. In addition, they are prohibited from using obscene or profane language.
Violation #6: Publicize a list of people who owe them money.
Violation #7: Cause your phone to ring repeatedly or continuously to annoy you.
Violation #8: Call you without telling you who they are and why they are calling.
Violation #9: Mislead or falsely represent the amount owed, that they are an attorney or law firm, that if you don't pay then you'll go to jail, state or claim that you committed a crime, or threaten to take an action that is not allowed legally.
Violation #10: Not informing you that any information obtained can be used for the purpose of collecting their debt.
Violation #11: Threaten to repossess any property that they legally don't have the right to repossess. I remember hearing a lady calling a national talk show and saying that a debt collector had threatened to repossess her cat. What is this world coming to?!! That is definitely a violation! Cats, dogs, and children are not normally given as collateral against loans. This isn't the middle ages here!
Violation #12: Threaten to sue you and then not follow thru with it. In addition, they are not allowed to threaten to do anything unless they actually intend to follow thru with it.
First off, “I am NOT an attorney!” There are many good lawyers who specialize in helping consumers when a debt collector violates the act. Just google "Fair Debt Collections Lawyer." Many of them can help you at no cost out of your pocket. They will take on your case on a contingency basis and get paid from the money they collect from the debt collector.
I am not telling you to sue. Most people just want the calls to stop! Read the bottom of “page 1” again. When you get the calls, don’t forget to ask for either the fax number or their mailing address. A fax is faster, but the mail will work. And don’t forget to ask for the “return receipt”. This will cost a little, but will help if you go to court later. Keep a log on each company calling. As the saying goes…..create a paper trail!
Good Luck!!
Woody
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