California and Nevada AGs Announce Mortgage Investigation Alliance

Attorneys General Kamala Harris of California and Catherine Cortez Masto of Nevada have entered into a joint investigation alliance targeting both mortgage servicers and perpetrators of mortgage-related fraud.

The AGs say the initiative is designed to assist homeowners who have been harmed by misconduct and fraud in the mortgage industry.

The alliance will link the California and Nevada attorney general offices’ civil and criminal enforcement teams in order to speed up investigations of wrongdoing in the two states, which have experienced similar foreclosure and mortgage fraud crises.

“The mortgage crisis is a man-made disaster that has taken a heavy toll on the country, but it saved its worst for California and Nevada,” Harris said. She described the mortgage crisis as “a law enforcement matter,” adding

that she and Masto will pursue prosecution to hold those responsible accountable.

The partnership forged between Harris and Masto illustrates the deep rifts that have developed within the attorney general camp in recent months over robo-signing settlement negotiations.

What started out as a united front of lead counsels from all 50 states has splintered as talks between the AGs and servicers has dragged on for over a year.

Massachusetts Attorney General Martha Coakley filed her own individual lawsuit against the five servicers taking part in the negotiations last week.

The California-Nevada mortgage investigation alliance is the product of weeks of discussion between Attorneys General Harris and Masto to ascertain “the most effective and efficient means of achieving justice” for their respective states, the two said in a joint statement. Tuesday’s announcement formalizes an agreement reached between the two officials last week.

By most measures, California and Nevada have been the states hardest hit by the nation’s foreclosure crisis. The attorneys general note that the crisis in their states are similar because both employ a non-judicial foreclosure system in which a bank can foreclose on a borrower’s home without court oversight.

“The collective result has created a rich opportunity for predators, leading both states to make mortgage-related law enforcement action a top priority,” according to Harris and Masto.


If you know of anyone facing foreclosure please send them to www.CallToni.com or call our office at 310-482-2034.

Source: DSNEWS

4 Keys To Saving For Your Future Home

In this video, we will explore some things to consider when you're getting ready to save for your next home purchase.

CALL US TODAY AT 310-482-2035 or Email Toni@ToniPatillo.com

Mutifamily Properties for the First Time??

If you’re getting ready to purchase your first home, you may want to consider the advantages of leveraging your money through the use of a multifamily property. This can be especially appealing to young families just getting started out or busy couples/singles on the go. So let’s review some of the top benefits of multifamily investing:
First, by purchasing a 3 or 4+ unit within a desirable area, you will immediately start reaping the benefits of home ownership and collecting strong investment income. By finding reliable tenants, you will be able to cover up to a half or more of your mortgage payments.

And you will be consistently paying down principle and building up great equity. When the time comes to upgrade to a different property, the consistent income from you multi-unit home will help to cover a portion of your new mortgage, plus you will already be on the path to building your investment portfolio.
Additionally, instead of driving across town to keep up with maintenance and tenant issues, you will essentially be your own on property manager. This makes it infinitely easier when trying to collect rent or conduct showings, and you don’t need to pay another party to keep up with your home.

Next, in today’s market, cash flow is of the utmost importance. Nothing is worse for a new investor then when the property goes vacant for months. With a multifamily unit, you can alleviate the fear of being stuck with the full amount of mortgage payments, because typically your home should be at least 50% occupied.
Finally, you will be learning the ins and outs to one of the most effective investment strategies available. Purchasing your first multi unit will teach you all about how to buy, repair homes, market your property to tenants, collect rent, and how to invest your income into future properties.

Therefore, it is worth considering a multifamily home for your first purchase. Before choosing an area to live in and searching for a property that fits your needs, it will be to your advantage to consult an experienced Realtor within you local area that can give you professional guidance.

Contact us today to start learning more about the opportunities available to you and to discover where you can make a wise investment for your financial future! 310-482-2035 or Toni@tonipatillo.com

Weird Video Makes You Think??

How many money trees are you walking by without noticing?

Thinking of Selling Your Home FSBO??

If you’re looking to sell your home in the near future, you may feel inclined to list it as a For Sale By Owner (FSBO) before working with a Realtor. For many, this is considered one good way to cut back on costs and possibly earn a little more profit on the sale.
However, there are certain aspects you may want to consider before going down this path. Statistically, over 80% of FSBO’s end up being listed with a Realtor at some point. Therefore, it pays to take the time to fully assess whether or not this is the right plan of action for you.

Properly Marketing Your Property

First of all, listing a home for sale can be a very time consuming and difficult process. Unfortunately, this typically is not as easy as posting a sign in the yard and setting up a classified ad in the local newspaper. There is certainly a lot more than meets the eye.
For instance, many FSBO websites will tout that you can obtain a wide exposure to buyers nationally, but this pales in comparison to the results that you can expect from big named sites like Realtor.com, which only agents can post to.
Next, your agent will have a lot of expertise with implementing online real estate marketing strategies that will gain you a ton of locally targeted searches. And in fact, nearly 90% of all searches for real estate related inquiries start online.
Realtors will also have a strong network of both agents and buyers that they work with on a regular basis. This is a business where it pays to network. More contacts equals greater exposure.

Asking Price & Showings

For starters, a lot of FSBO’s will start at the wrong asking price. This is by far one of the most important factors that goes into marketing your home, so you want to do this properly off the bat. But, without being fully invested in your local market and understanding the current trends, it can be difficult to price the home accurately.
As alluded to in section one, selling a home can be a lot of work. Most individuals these days have to juggle a full time job, family obligations, recreational activities, household chores, etc. Where do you find the time for fully investing into the sale as well?
When the opportunity would arise for interested parties to view your property, you would need to schedule individual showings, open houses, inspectors, appraisers, etc., while also trying to stage and maintain your property’s appearance. Miss out on a good opportunity for matching schedules and you can quickly lose interest.

Negotiations & Contracts

If you get to the point where you negotiate with a buyer, it is much more difficult to handle this aspect without a qualified agent. Selling your home can be a very emotional undertaking, so it is easier to set unrealistic expectations, or to even concede on more than necessary when you don’t have a 3rd party buffer.
During most real estate transactions, both the buyer and seller will typically have a set of concessions and contingencies. For a majority of buyers, they will expect to have some type of a financing, inspection and/or termite contingency.
This is set up for their protection, in order to complete their due diligence on the home before moving forward to closing. If other issues are found, this may even been grounds for further negotiation or eventually walking away from the deal.
Or you will be expected to lower the price, fix the issue or offer a concession on something else in order to alleviate the problem. Likewise, you want to ensure that the buyer is not overstepping their boundaries or that you are pressured into giving away more than is reasonable.
In summary, it’s worth taking the time to carefully consider these 3 areas before making any final decisions. If you still decide to take the FSBO route, we sincerely wish you great success. Also, please feel free to share our information with a friend and to bookmark our page for future reference as well!


Call us today at 310-482-2035 or email Toni@tonipatillo.com

If you're looking to buy a fixer upper here are some rules to follow:

• Pick the right location!
• Know Your Stuff
• Make sure you consider the time and cost associated with doing a rehab
• What are your financing options?

Once you are ready to move forward, call our office for a free list of "Fixer Uppers" in your area. 310-482-2035 or www.CallToni.com

Attorney General Kamala D. Harris Sues Law Firms Engaged in National "Mass Joinder" Mortgage Fraud

SAN FRANCISCO --- Attorney General Kamala D. Harris today announced that the California Department of Justice, in conjunction with the State Bar of California, has sued multiple entities accused of fraudulently taking millions of dollars from thousands of homeowners who were led to believe they would receive relief on their mortgages.

Attorney General Harris sued Philip Kramer, the Law Offices of Kramer & Kaslow, two other law firms, three other lawyers, and 14 other defendants who are accused of working together to defraud homeowners across the country through the deceptive marketing of "mass joinder" lawsuits. "Mass joinder" lawsuits are lawsuits with hundreds, or more, individually named plaintiffs. This is the first consumer action by the Attorney General's Mortgage Fraud Strike Force.

Kramer's firm and other defendants were placed into receivership on Monday, Aug. 15. The legal actions were designed to shut down a scheme operated by attorneys and their marketing partners, in which defendants used false and misleading representations to induce thousands of homeowners into joining the mass joinder lawsuits against their mortgage lenders. Defendants also had their assets seized and were enjoined from continuing their operations. Nineteen DOJ special agents participated as the firms were taken over Wednesday, Aug. 17, along with 42 agents and other personnel from HUD's Office of Inspector General, the California State Bar, and the Office of Receiver Thomas McNamara at 14 locations in Los Angeles and Orange Counties. Sixteen bank accounts were seized.

"The defendants in this case fraudulently promised to win prompt mortgage relief for millions of vulnerable homeowners across the country," said Attorney General Harris. "Innocent people, already battered by the housing crisis, were targeted for fraud in their moment of distress."

"The number of lawyers who have tried to take advantage of distressed homeowners in these tough economic times is nothing short of shocking," said State Bar President William Hebert. "By taking over the practices of four attorneys accused of fraudulent marketing practices, the State Bar can put a stop to their deplorable conduct as part of our ongoing effort to protect the public."

It is believed that at least two million pieces of mail were sent out by defendants to victims in at least 17 states. Defendants' revenue from this scam is estimated to be in the millions of dollars.

As alleged in the lawsuit, defendants preyed on desperate homeowners facing foreclosure by selling them participation as plaintiffs in mass joinder lawsuits against mortgage lenders. Defendants deceptively led homeowners to believe that by joining these lawsuits, they would stop pending foreclosures, reduce their loan balances or interest rates, obtain money damages, and even receive title to their homes free and clear of their existing mortgage. Defendants charged homeowners retainer fees of up to $10,000 to join as plaintiffs to a mass joinder lawsuit against their lender or loan servicer.

Consumers who paid to join the mass joinder lawsuits were frequently unable to receive answers to simple questions, such as whether they had been added to the lawsuit, or even to establish contact with defendants. Some consumers lost their homes shortly after paying the retainer fees demanded by defendants.

This mass joinder scam began with deceptive mass mailers, the lawsuit alleges. Some mailers, designed to appear as official settlement notices or government documents, informed homeowners that they were potential plaintiffs in a "national litigation settlement" against their lender. No settlements existed and in many cases no lawsuit had even been filed. Defendants also advertised through their web sites.

When consumers contacted the defendants, they were given legal advice by sales agents, not attorneys, who made additional deceptive statements and provided (often inaccurate) legal advice about the supposedly "likely" results of joining the lawsuits. Defendants unlawfully paid commissions to their sales representatives on a per client sign-up basis, a practice known as "running and capping."

Defendants' alleged misconduct violates the following laws:
-False advertising, in violation of section 17500 of the Business and Professions Code
-Unfair, fraudulent and unlawful business practices, in violation of section 17200 of the Business and Professions Code
-Unlawful running and capping, in violation of section 6152, subdivision (a) of the Business and Professions Code (i.e., a lawyer unlawfully paying a non-lawyer to solicit or procure business)
-Improper fee splitting (defendants unlawfully splitting legal fees with non-attorneys)
-Failing to register with the Department of Justice as a telephonic seller.

Homeowners who have paid to be added to one of the lawsuits should contact the State Bar if they feel they may be victims of this scam. They can also contact a HUD-certified housing counselor for general mortgage related assistance.

The Department of Justice has seized the practices of the following non-attorney defendants:
Attorneys Processing Center, LLC; Data Management, LLC; Gary DiGirolamo; Bill Stephenson; Mitigation Professionals, LLC; Glen Reneau; Pate Marier & Associates, Inc.; James Pate; Ryan Marier; Home Retention Division; Michael Tapia; Lewis Marketing Corp.; Clarence Butt; and Thomas Phanco.

The State Bar has seized the practices and attorney accounts of the attorney defendants:
The Law Offices of Kramer & Kaslow; Philip Kramer, Esq; Mitchell J. Stein & Associates; Mitchell Stein, Esq.; Christopher Van Son, Esq.; Mesa Law Group Corp.; and Paul Petersen, Esq.

Attorney General Harris is challenging the defendants' alleged misconduct in marketing their mass joinder lawsuits; her office takes no position as to the legal merits of any claims asserted in the mass joinder lawsuits filed by defendants.

Victims in the following states are known to have received these mailers, or signed on to join the case. This is a preliminary list that may be updated:

Alaska, Arizona, California, Colorado, Connecticut, Florida, Hawaii, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Texas, Washington

The complaint, temporary restraining order, examples of marketing documents and photos of the enforcement action are available with the electronic version of this release at http://oag.ca.gov/news

Source: Office of the Attorney General Press Release

If you or anyone you know needs free help with a loan modification go to www.FreeHelpForHomeowners.com or call our office at 310-482-2034.

My Electric Bill is HOW MUCH??

With rising utility costs and overall living expenses, people everywhere are looking for creative ideas on how to reduce spending. One of these major areas that can have a significant impact on your bottom line long-term is with heating, cooling and electric bills.

Therefore, it is important to take strides whenever possible to help alleviate this financial burden. We have devised a checklist of 6 items for you to review and determine where you can start cutting back expenses and improving efficiency in your home:

1. Maintain your furnace and air conditioning units:

this is one area that homeowners can tend to disregard. Yet, just like conducting routine repairs on your automobiles; likewise, it is just important to keep up with these items as well. And it’s only necessary once per year!

In fact, the amount of money you can save in the long run by avoiding more significant maintenance hassles or losing a unit well before it’s time makes this step well worth it. Additionally, you will maintain a higher efficiency and experience cleaner air too.

2. Standby power:

Did you know that many items around your house such as your TV, entertainment system, Wii, computer, microwave, etc. are constantly drawing electricity even when they are not powered on?

In fact, items throughout your house such as these typically can account for approximately 10% of your total energy consumption! Simply by having certain items plugged into a power cord that can be switched off when not in use may have a significant impact.

3. Consider investing in a programmable thermostat:Installing one of these can be fairly inexpensive and is extremely useful for families that are always on the go! Simply set the meter to fluctuate a few degrees during key time frames, and the savings will really start to add up.

4. Decrease your water heater’s temperature: By switching the temperature down to the lowest setting can impact your energy bills from 5-10%. You will still have plenty of hot water and can enjoy some extra cost savings as well. .

5. Change you appliance settings: Many dishwashers, washers, and dryers have advanced settings that could also be increasing your utility bills. Consider turning off those extra bells and whistles such as the heated dry, automatic sensor settings, or wrinkle shield. Also, you can wash with cold water and only do larger loads when necessary.

6. Dimmer switches and motion detectors: Another tip is to replace your current fixtures or switches with these energy efficient alternatives. You will be able to consume far less energy and your family will only use light when necessary. Even if you do not install these items, get in the habit of shutting off the lights in any room that is not occupied..

By following these 6 simple steps, you will begin to save more money and consume fewer resources. There are so many other ways that you can improve energy efficiency as well, so we encourage you to take the time to research what may be beneficial for you. Be sure to bookmark our page for regular updates and other free real estate related tips. Also, please don’t hesitate to refer us to a friend or family member! Thanks for stopping by.

Oh..and by the way. If you know of anyone who needs Free Help with a Loan Modification, tell them to go to www.FreeHelpForHomeowners.com

Or...Call us at 310-482-2035

Today’s Loan Modification Scams Exploit Foreclosure Crisis

Fewer things are worse than taking advantage of someone losing their home. This is precisely what mortgage loan modification scams are doing at the worst time in the foreclosure crisis. Perhaps worst of all, most of those targeted are minorities, bringing an even more sinister edge to what’s already a heinous crime.

How Loan Modification Scams Work

First you’ll get a call telling you how to renegotiate the terms of your home loan. Often times, you’ll be promised or strongly led to believe you will get a modification of loan terms and a lowered principle. You’ll also be asked to cough up around $3,000 to make it happen.

Telling the modification company you aren’t interested won’t get them to stop–they’ll keep calling, lowering the cost of services and promising more and more. Finally, you give in, pay half what they originally asked for and wait for… nothing.

Get Out of Debt?

The loan modification scams work around the idea that there are problems with your original mortgage. The company offers to audit your mortgage.

This is fair enough. Most mortgage audits reveal some problems that aren’t mortgage fraud on the level of the robo signing scandal, but should get some attention. Unfortunately for you, this almost never leads to a reduction in principle or a substantial renegotiation of the terms of your loan.

Mortgage Fraud and the Foreclosure Crisis

Sad as it might be, the foreclosure crisis has been a booming industry for less-than-ethical businesses. It seems not a week goes by without hearing about the continued robo signing scandal or a bank foreclosing on a family current with mortgage payments.

The loan modification scams are merely the latest attempt by unscrupulous businesses to turn a profit on people’s misery during the foreclosure crisis.

Fighting Loan Modification Scams

Many people are not taking being targeted lying down, however.

Jose Chirino, the subject of a Daily Finance article, contacted a non-profit legal aid agency specializing in mortgage law. Such non-profits have begun aiding consumers in their fight against loan modification scams and mortgage fraud.

The robo signing scandal has sent a clear message to consumers: Know your rights and mount a fight. Homeowners wishing to get out of debt during the foreclosure crisis have a number of legitimate debt consolidation and debt management agencies to appeal to.

Hallmarks of Loan Modification Scams

There are some clear indications of a loan modification scam. Avoid any company that:

• Guarantees results of any kind.
• Urges you to stop making payments on your mortgage.
• Pressures you to sign contracts or puts a deadline on how long you have to sign.
• Demands a fee up front for services rendered.

Most legitimate loan modification companies are non-profit enterprises who exist for no other purpose than to help consumers like yourself get out of debt. When someone seems more interested in getting their hand in your wallet than helping you deal with mounting debt, contact the Federal Trade Commission.

Those looking for legitimate help with a mortgage should contact the FTC or the Department of Housing and Urban Development. Either can direct you toward reputable services, often at low or no cost.

By Nicholas Pell

Job Loss Could Put One in Three Out of Their Home

One in three Americans would be unable to make their mortgage or rent payment beyond one month if they lost their job, according to the results of a national survey taken in mid-September.

Despite being more affluent, the poll found that even those with higher annual household incomes indicate they are not guaranteed to make their next housing payment if they lost their source of income.

Ten percent of survey respondents earning $100K or more a year say they would immediately miss a payment.

The survey was conducted on behalf of a financial consortium comprised of the Certified Financial Planner Board of Standards, Financial Planning Association, Foundation for Financial Planning, and the U.S. Conference of Mayors.

Sixty-one percent of those surveyed said if they were handed a pink slip, they would not be able to continue to make their mortgage or rent payment longer than five months.

Job loss has become the primary driver of mortgage defaults. With the national unemployment rate holding

above 9 percent for five straight months and not expected to drop by any significant measure in the foreseeable future, the state of the labor market is one of the biggest obstacles for struggling homeowners and their lenders.

A number of programs at both the national and state level have been launched to assist unemployed homeowners, but so far the expected results haven’t materialized.

HUD has told DSNews.com that it does not expect to meet the original goal set for the $1 billion Emergency Homeowners’ Loan Program (EHLP) of subsidizing 30,000 unemployed homeowners’ mortgage payments.

The New York Times reports that fewer than 15,000 borrowers are likely to receive EHLP assistance and more than half of the money allotted for the program will go unspent.

An analysis of government records by USA Today shows that a separate federal program which provides money to individual states to assist homeowners who’ve lost their jobs has been slow in ramping up.

Through the Treasury’s Hardest Hit Fund, 18 states were awarded a total of $7.6 billion to develop their own localized programs to counter unemployment and falling home prices in the fight against foreclosure.

USA Today says only about 1 percent of this money has actually been distributed to distressed owners, 16 months after the program was launched.

The news agency found that as of June 30th, 17 states had used the federal funds to help about 7,500 homeowners.

USA Today noted that several states are just now getting their individual programs off the ground and dispersing the money to qualified applicants, and the states have until 2017 to use their allotted funds.

By: Carrie Bay