Don’t be fooled that only those masked, hooded crooks sitting in an underground basement hunched over a computer can perpetuate fraud. Anyone can commit fraud, if they have the incentive. Document fraud especially, can be perpetuated by all …
Continue Reading →Threats to Escrow – Part 5 – Document Fraud!
The loan got sold while the property was in escrow? What kind of consequences are we looking at? We all know that loans get sold from one lender to another all the time. Normally, it is no big …
Continue Reading →When the Loan Got Sold and You Just Closed Escrow
OH, THOSE HAZARDS OF THE ESCROW DESK! It is the day before closing and the file is set up for recording. Buyer and his lender’s money are all in and documents are all signed. Out of the blue, …
Trick or Treat Came Early A Very Personal Ransomware Horror Story As the IT person for Viva Escrow, I am in charge of keeping our technology secure and in place. This means not only hardware but also software. …
FIRPTA Withholding in California – Federal regulations under IRC Code section 1445 (FIRPTA) Are you an individual who is looking to buy a property in the U.S. but you are a foreigner? There are no restrictions for you to …
Continue Reading →Are You a Foreigner and Need to Know About U.S. FIRPTA Withholding Laws?
What are the three MOST important items to remember regarding the FIRPTA withholding? The withholding is held on the Seller who is a FOREIGNER The Foreign Seller should have an ITIN (Individual Tax Identification number) when the withholding …
A Home Equity Line Of Credit (HELOC) was so very popular back in the early 2000’s when homeowners were using their principal residences as a piggy bank. Get a line of credit for $150,000, or whatever equity you …
Tip #6 – MORTGAGE STATEMENTS Have you provided the Mortgage Statements? Is your recollection of the balance of the unpaid mortgage correct? The amount of the RM loan that you will be able to access depends on the …
Tip #3 – OWNERSHIP UNDER A TRUST Many of our elder clients have the foresight to put their property into their Revocable Trust. If this is the case, then here are the questions to be answered Was a …
What Are They And What Should I Do? Are you 62 years or older? Chances are you have heard about “Reverse Mortgage” (RM) sometime in the years approaching that milestone. What is it exactly and how can this …