JC Financial's Five Reasons to Purchase a Property Now
1. Interest Rates are still the lowest they have ever been
2. Interest Rates are climbing
3. It is Cheaper to Own than to Rent
4. Real Estate is a BETTER investment Option than the Stock Market in the next few years
5. Easier Loan Approvals
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JC Financial’s Top 12 List of Dos and Don’ts of Mortgage Applications
To improve your chances of a smooth and successful loan approval process, follow the tips below. They apply to both purchase and refinance transactions
1. DO NOT deposit any funds into your checking account without making a copy of the check or deposit slip
2. DO NOT move money around from account to account
3. DO NOT go out car shopping, furniture shopping, or any other shopping that would
run up credit cards
4. DO NOT payoff debts until instructed to do so
5. DO NOT change jobs, if at all possible
6. DO NOT go on vacation or out of town, if at all possible
7. DO NOT accept any gifts from family members (Borrowers – check with your Loan
8. DO NOT sell any personal items (Borrowers – check with your Loan
9. DO NOT take any cash advances on your credit cards
10. DO save all paystubs, all bank statements and quarterly statements
11. DO continue to make all your payments on time (this includes mortgage payments
even if the borrower is refinancing)
12. DO ask questions regarding the loan process, programs, and fees
Use the Law to Fight Fraud
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The American legal system affords people many ways to pursue justice against those who have wronged them. But you must take the first step – no one else will do it for you.
What do you mean “take the first step?”
If someone owes you money, you can sue them. A registered process server, or any non-party (not you) age 18 or over, must then find the defendant, serve them (give them a copy of the lawsuit) and complete a “proof of service” form to file with the court. The defendant has 30 days from the date of service to respond to the lawsuit, or the plaintiff will win “by default.” If the defendant “responds” to the lawsuit (by filing a response with the court), the parties must resolve the case in court.
But the person who took my money left the country.
The U.S. legal system provides methods by which you can sue a foreign person or entity in either federal or state court. Each individual situation is different, and should be reviewed by a competent attorney before proceeding.
He didn’t leave the country. He just put all his property in his wife’s name.
If property is transferred to evade creditors, you can sue both the transferor and transferee to void the transaction as a “fraudulent conveyance.” The most common evidence of such a “fraudulent conveyance” is transfer of property to a family member or other person, with no money changing hands.
Some of his property is in California, but some is out of state.
The US Constitution requires that each state recognize other states’ judgments. You can get your California judgment recognized in any other state.
He didn’t leave the country, but he filed for bankruptcy.
As a creditor, you can file a “creditor’s claim” with the bankruptcy court. Or you can file an “adversary proceeding” to object to your debt being discharged in bankruptcy, or to object to the debtor receiving a discharge in bankruptcy if the debtor has lied to or withheld information from the bankruptcy court.
What happens if I win?
There are many ways for a judgment creditor to execute (collect) on a money judgment. Among them are to garnish the debtor’s wages, or record judgment liens against real property.
He keeps telling me he is going to pay me back, but he never does.
You cannot rely on someone who is unreliable. You must take control of the situation.
The American legal system rewards the diligent, and penalizes those who “sit on their hands.” So don’t wait – use the law when needed to protect yourself and your family from dishonest and unscrupulous people.
The general information contained in this article is provided as a public service, and does not constitute legal advice. The author, Andrew Steinfeld, Esq., practices with the firm of Mewes & Steinfeld, LLP. The firm’s website is at www.mslawgroup.com
CA DRE Lic# 01932402