North Carolina Session Law 2005-408 “Debt Adjusters”

February 12, 2009

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2005
SESSION LAW 2205-408
SENATE BILL 590
§ 14 423. Definitions.
As used in this Article, the following definitions apply:
(1) “Debt adjuster” means a person who engages in, attempts to engage in, or offers to engage in the practice or business of debt adjusting.
(2) [...]

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$15,000 Tax Credit for Real Estate Purchases

February 5, 2009

Will There Be a $15,000 Tax Credit For Homebuyers?

A new amendment to the economic stimulus package working it’s way through congress was unanimously approved on February 4th. The amendment proposed by U.S. Senator Johnny Isakson, R-Ga. would increase the current “tax credit” of $7,500 to $15,000.
The amendment would provide a direct tax credit of 10% of the purchase price [...]

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Top 10 Insurance Myths for the Real Estate Investor

February 5, 2009

Insurance is the one thing for which we pay that we never want to use. However, in the event you need it, you certainly want to be properly protected. The points presented here should hopefully allow you to grasp a few of the pertinent insurance issues for whatever your real estate endeavor may be.
Myth # [...]

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Wilmington, NC Flat Fee Listings

February 5, 2009

Acumen Real Estate is now officially open in Wilmington, NC.
ACUMEN REAL ESTATE was formed to give smart consumers more of a choice in the real estate marketplace.  Our goal is to offer several different listing and buying options that are tailored to our clients needs.  Traditional real estate companies charge commissions that represent a substantial [...]

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Avoiding Foreclosure Scams in North Carolina

January 15, 2009

Foreclosure Scams on the Rise!
Foreclosure Scams are on the rise because of the increasing number of foreclosures. It’s very important as homeowners to know about these scams and avoid them like the plague. They may cause you more harm and headache as they prey on desperate homeowners looking for solutions.
Common Foreclosure Scams
 
1. EQUITY SKIMMING:
You are [...]

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Subject to deals in North Carolina

December 20, 2008

North Carolina has no problem with Subject To investing as long as the following guidelines are adhered to:
The problem with the use of a “Land Trust” as a means of concealing a violation of the “due-on-sale” (DOS) clause is that even where the designated trustee is a real person or entity, the identity of the [...]

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NC Emergency Program to Reduce Home Foreclosures. House Bill 2623

December 9, 2008

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2007
 
 
SESSION LAW 2008-226
HOUSE BILL 2623
 
 
AN ACT to create an emergency program to reduce home foreclosures and to authorize the commissioner of banks to use funds for home foreclosure prevention.
 
Whereas, the General Assembly finds that there is a substantial increase in mortgage foreclosures due to the national subprime mortgage and housing [...]

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Understanding the Current Financial Crisis

November 28, 2008

Many people are not able to see the seriousness of our current financial crisis because they don’t see or understand its causes.  This current crisis started with three speculative bubbles:  the stock market in the 1990’s, closely followed by another in the housing and a third in the oil market.  The Great Depression was preceded by the [...]

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The Due-On-Sale Clause and Subject To Properties

November 24, 2008

The Due on Sale clause is a non-issue and here’s why.  There isn’t a single lender on the face of the earth that is going to enforce their Due-on-Sale rights on a mortgage that is performing (being paid on time).  Why?  Because lenders are in the business to make money.  If they enforce their DOS [...]

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US financial crises and investing in real estate

November 4, 2008

I have been asked to write today concerning the current US financial crises and investment real estate. Even as the main stream media and most government officials tout that the American wealth is located in the equity in our homes, most informed investors know this is not true. Holding wealth in equity is not holding wealth at all [...]

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