In an effort to stimulate the economy, California is offering first-time homebuyers up to $10,000 in state tax credits. Two different types of homebuyer credit are available: credits for first-time homebuyers and credits for homebuyers opting for new homes. The credits are alternative credits, such that a homebuyer qualifying for both must choose one or […]
Save Your House – With The Housing Market In Shambles, Who Will Pay?
Although the real estate market began its collapse several years ago, banks and lenders continue to sort out the related issues today. According to the New York Times, during the real estate boom years banks nationwide lent homeowners more than approximately a trillion dollars in the form of home equity loans. These loans were secured […]
Foreclosure Laws in California – Protection for Homeowners in Foreclosure or Short Sales
California has been among the states hardest hit by declining real estate values. Many homeowners now find themselves “underwater,” or owing more on their home than it is worth. According to a recent report from research firm First American Home CoreLogic, 37.4 percent of California home mortgages are underwater. In such cases, if homeowners cannot […]
Business Law Lawyers – New Federal Laws Regulating Credit Card Companies
This past May, President Obama signed into law the Credit Card Accountability Responsibility and Disclosure Act, otherwise known as the CARD Act. This federal law aims to protect consumers from unfair credit card company policies and help consumers better manage their spending and credit. The first provisions of the law went into effect on August […]