Archive for 'Industry News'

Cash Is Dead! Long Live Cash!

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(This essey was written by President and CEO John C. Williams of the Federal Reserve Bank of San Francisco)

It is often said that cash is king. But a quick glance at the register in stores and restaurants might make you think the king is on his deathbed. Increasingly, customers are finding other ways to pay for things, whether it’s credit, debit, ...

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Zombie Foreclosures: Borrowers hit with debts that won’t die

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Borrowers are discovering that their foreclosed homes are coming back to haunt them — long after they have moved out.

In these “zombie foreclosures,” borrowers move out after their bank schedules a foreclosure auction only to learn months or years later that the auction never took place or the bank never transferred the deed. That means the borrower still technically owns the house and is on the hook for property taxes, fees and homeowners’ association dues.

Since the housing bubble burst seven ...

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Consumer Warning: Underfunded Homeowners Associations

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The California Department of Real Estate (DRE) has issued this warning as a result of the growing number of homeowners associations (HOAs) that do not have sufficient funds or reserves to adequately maintain the common areas in the housing developments for which the HOA is responsible.

This warning will explain the negative effects and impacts of an underfunded HOA, offer suggestions on how to gauge the financial health of an HOA, and discuss some typical causes of an underfunded HOA.

Negative Effects ...

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