Beware of REPO Scammers

This was on  www.redding.com today, and it is important that this word gets out…..

Everett and Delores Dale knew something wasn’t right when two men pulled up to their Enterprise-area home one day unannounced and told them they needed to get out.

Though the couple had lost their home to foreclosure on Sept. 2, the bank had not given the Dales a move-out date.

But the men in the pickup were persistent. They advised the Dales they were representing Bank of America and would return in two days to change the locks, 80-year-old Delores Dale recalled.

The Dales would later learn they nearly became victims of a scam popular in Southern California.

Posing as bank employees, the scammers go to a foreclosed home and give the occupant an ultimatum. Often, the victim will get scared and move out, leaving the house vacant. The scammers either move in or rent out the house until the bank catches on.

“In general, somebody who is being removed from the home – whether it’s a squatter or a long-term tenant – there is a legal process the property owner must go through,” said Redding attorney Tom Andrews, who specializes in elder and real estate law. “They (the owner) can’t use self-help and they just can’t show up on the doorstep and say, ‘You have to leave now.’ “

Everett Dale, 81, said he became especially suspicious when the men couldn’t give him a name of a bank official.

“I told them, ‘You’re contracting with Bank of America and you don’t have a name?’ ” said Everett Dale, a retired AT&T employee.

The Dales, who’ve lived in their house 12 years, called the bank and eventually spoke with an attorney in Southern California who told them about the scam. They were told the culprits hunt for victims by using foreclosure notices printed in newspapers.

The Dale’s 44-year-old son, Veldon, said his parents had talked to so many people, in an attempt to save their house from foreclosure, that they were still seeking answers when the men showed up at their house.

“When you keep calling to try to get somebody and can’t get an answer, it’s real easy for a scam artist to step in and suddenly have the answer,” Veldon Dale said.

The foreclosure process starts with a notice of default. That is followed 90 days later with a notice of sale, with the date the home will be sold at a public auction.

“After the sale date, the new owner can start eviction proceedings by sending a notice of quit,” said Evan Westrup, a spokesman with the state Office of the Attorney General. “If somebody comes to the door claiming to be from the bank and telling the homeowner to leave, then the homeowner should demand proof that the bank now owns the home.”

The proof certainly would have a contact number for the bank or the financial institution’s attorney, Westrup noted.

Westrup explained that the scenario the Dales described is a scam that has appeared in a number of forms in areas affected by the foreclosure crisis throughout California.

“In that respect, local officials and the DA (district attorney) have often been the lead agencies,” Westrup said.

An investigator with Shasta County’s real estate fraud protection unit, created July 1, said Monday the office had not had any complaints about the scam that nearly victimized the Dales.

Cal Football Down but not Out….as big game approaches

This was the report on Yahoo sports, and I think it kinds of tells it all…

 

California’s next two games will probably define the Bears’ season. They will certainly tell us how good the Bears are and whether quarterback Kevin Riley has the goods to lead the Bears to a Pac-10 title.

 

The fact is, though, there is no way to tell how good the Bears are heading into the Sept. 26 Pac-10 opener at Oregon. A week later Cal plays USC in an Oct. 3 game in Berkeley, a game Cal fans have been eagerly awaiting.

 

With Washington’s upset of USC on Sept. 19, the Bears’ game against Oregon could turn out to be the biggest game of thePac-10 season, and both teams and both teams’ quarterbacks are still a bit of a mystery.

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The Bears have been impressive in winning their first three games, but the opposition does not compare with what they will see against the Ducks, and the Bears have still not convinced everyone they can play well enough on the road. Oregon, meanwhile, was sent reeling by its lopsided season-opening loss to Boise State, which also ended up robbing the Ducks’ of their prime running threat, LaGarrette Blount. But the Ducks have rebounded with two wins at home, including the Sept. 19 victory over Utah that ended the Utes’ 16-game winning streak.

 

The question becomes whether Oregon quarterback Jeremiah Masoli can be productive enough without Blount to lead the Ducks past Cal. Masoli, after all, is still an unproven commodity in many respects. He was awfully good the second half of last season, but he still has not played that many college games and has been mediocre this season, completing less than half his passes with two interceptions and no touchdowns.

 

Riley has been far more efficient, but the Ducks have faced much better defenses than the Bears have, and playing in Eugene gives Masoli a distinct advantage.

 

If Cal beats Oregon, it will be anointed as the Pac-10 favorite heading into the home game against USC, and the Cal faithful will be thinking the Bears’ first Rose Bowl berth since 1958 season is within their grasp.

 

If they lose to Oregon, the Bears are not out of contention for a Rose Bowl berth, because, at the moment, no Pac-10 team seems dominant enough to go unbeaten in conference play. However, a Cal loss would mean the Bears would face USC in what amounts to an elimination game for the Pac-10 title.

 

The real estate “downturn”….is an end in sight?

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How long will this real estate downturn last?…often asked of me.

It seems like every day someone comes up and asks, “how long is this real estate downturn going to last?”. This is a good questions, and none of us has the crystal ball to forecast the future, but some of the experts are giving us some ideas on where they see the market going.

A few weeks ago, one of the officers of the Mortgage Bankers Association at a conference in Denver, CO put some current conditions in perspective. And, to fully understand where we are today, we need to look at history, especially in the past few years. And, to most that read this, this is not news, as you have seen this current condition develope over the past few years.

In the 2004 to 2006 time frame, real estate values started going up rapidly, especially in fast growth areas like California, Arizona, Nevada, Florida, and parts of Texas. With the availability of financing, new home construction booms were commonplace, and within a short period of time, the new home inventory started drawing buyers from older homes, and almost overnight the used home prices started going up. The available equity cash to existing homeowners made buying a new home much easier, and the “boom” took off. Concurrent with this home-buying rush, financing of all sorts was made available to buyers that in more traditional times would have been marginal qualifiers for a home loan. And, with the amount of money available, lenders brought a whole menu of loans to buyers, including the adjustable rate mortgages, whereby after a short period of time the amount of the monthly loan payment would increase. The ARM’s became very popular, for they not only allowed marginal buyers to buy a home but they also allowed the buyers to keep their payments low so that they could continue to buy other things to maintain their accustomed to life style. These ARM’s were usually set up for an initial 3 year or 5 year term, whereby the initial payment would remain the same for a 3 or 5 year period then increase to a higher payment level. The justification for this was that the buyers home would continue to increase in value, so the home would be worth more on the open market in the coming years than it was at this point thus justifying the higher payments. The lenders tried to make this concept clear and understood to all involved, so this is not a “blame someone” situation.

Well, 3 years later these adjustable payments started going up, and shock set in for many. Complicating this entire national picture came the downtown in the economy, which was impacted by the huge number of new homes built nationally that, all of a sudden, were not selling. The housing market directly and indirectly impacts so many related industries that the slowdown in housing started a ripple effect. As mortgage payments went up, jobs started being lost, and a “double whammy” set in….a higher payment and a job loss. This was a formula for disaster, and this is exactly what has happened.

Now, we are being told that the peak of this increase in the number of 3 year ARMS that will call for payment increases will come in the fall of 2010. This is to say that between now and next fall, we will continue to see an increase in both short sales and foreclosures that are affected by the above, and then in the next few years following next fall we will see the 5 year ARM adjustments kick in. Not a good picture. Right now we have a huge inventory of both short sales and REPOs…so we will probably see this number increase. With the exception of mortgage modifications by many lenders, not much can be done. This is especially concerning if the economy does not start on a growth mode and jobs are both re-instated and created. Could be a long 3 or 4 years for many.

Thanks for reading, and comments will be appreciated.

www.largent2010.com

 

Proposition 13….What Is It?…A questions often asked.

It seems like, with many of the folks that I talk with these days, the question comes up as to what is Proposition 13 and how does it apply to them. So, I looked up the Proposition, and here is what the best explanation that I could find says:

Proposition 13, officially titled the “People’s Initiative to Limit Property Taxation,” was a ballot initiative to amend the constitution of the state of California. The initiative was enacted by the voters of California on June 6, 1978. It was upheld as constitutional by the United States Supreme Court in the case of Nordlinger v. Hahn, 505 U.S. 1 (1992). Proposition 13 is embodied in Article 13A of the California Constitution.

The most significant portion of the act is the first paragraph, which capped real estate taxes:

Section 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed One percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties.

The proposition’s passage resulted in a cap on property tax rates in the state, reducing them by an average of 57%. In addition to lowering property taxes, the initiative also contained language requiring a two-thirds majority in both legislative houses for future increases in all state tax rates or amounts of revenue collected, including income tax rates. It also requires two-thirds vote majority in local elections for local governments wishing to raise special taxes. Proposition 13 received an enormous amount of publicity, not only in California, but throughout the United States.

Passage of the initiative presaged a “taxpayer revolt” throughout the country that is sometimes thought to have contributed to the election of Ronald Reagan to the presidency in 1980. However, of 30 anti-tax ballot measures that year, only 13 of them passed.

 A large contributor to Proposition 13 was the sentiment that older Californians should not be priced out of their homes through high taxes. The proposition has been called the “third rail” (meaning “untouchable subject”) of California politics and it is not politically popular for Sacramento lawmakers to attempt to change it.

Should you have any questions on this subject, please contact me and we will spend time going over the details of Proposition 13. As with all issues, access to the Assessor-Recorder is critical to my Public Service and commitment to serve the public. This is another reason that I am running for Shasta County Assessor – Recorder in 2010. You, the taxpayer, deserve the right to know what our laws mean, in reality, to you and how they will impact you. Another reason to vote for Ron Largent for Assessor-Recorder in 2010.  www.largent2010.com

Tony Perkins Family Research Council Report on Summit

Values Voters Summit a Great Success

With all the outstanding speakers and events this past weekend, it is hard to believe we fit the Summit into just three days. As Fox News describes it, FRC Action’s Values Voters Summit is “increasingly a must-attend event for Presidential candidates,” so there was not a moment that was not action-packed. Every general session was packed as over 1,800 people attended the premier event, while more than 175,000 unique visitors watched online.

The weekend was capped by a gala dinner where I was honored to present Mrs. Phyllis Schlafly the James C. Dobson Vision and Leadership Award. The work that Phyllis has done throughout her lifetime and continues to do is an inspiration for all. One night was not enough to be able to honor all of her accomplishments, but we did our best to pay tribute to this remarkable champion. Your prayers and support are what give us strength here in Washington as we fight for your values up on Capitol Hill and beyond. To view most of the speakers online please click here. This has become a “can’t miss” event, so I hope to see you there next year

This is a great organization…..check it out, as they really stress basic family values….Ron Largent

Bill O’Reilly’s Book “Bold, Fresh Piece of Humanity”

For those of you that have read Bill O’Reilly’s book, as above, you may agree with what I say…and for those of you that have not red the book, give it a try.

First, for the past few years, I have enjoyed listening to Bill, for I am a conservative and I enjoy his selection of news articles as well as his guests. I just enjoy the show…bottom line.

Over the years, I have listened to Bill talk about his books, so finally got “A Bold Fresh Piece of Humanity”, and I have really enjoyed reading the book. Although I am older than Bill, and grew up in the Los Angeles area, I can certainly relate to what he encountered growing up. And, after reading the book, I have a much better understanding of why Bill is like he is today.  Although the book could almost be considered a “biography”, it isn’t. It is a lesson in growing up with all of the trials and tribulations that one faces in life…and how you deal with the many issues one faces in “life”.

It is a fast read and has a lot of good thoughts…and even if you consider Bill “too conservative”….you might find the book worth reading. And, to Bill O’Reilly, thanks for writing the book, and best wishes.  Ron Largent

Farmers Market in Redding, CA

Farmers Market at the Civic Center each Saturday is growing by the week, as farmers and food vendors fill the area just adjacent to the City Hall. Crowds start early each Saturday, and now, with the weekly increasing number of food vendors, one can get everything from breakfast burritos to delicious chocolate cookies…

The Farmers Market in Redding will now be open until Thanksgiving, so take advantage of this unique opportunities to get organic and other fruits and vegetables from local growers.

A fun time for all and plenty of good food to shop for.

A

Chapter 6 Performs in Redding, CA

On Friday, Sept 18, in Redding, CA…a new high in musical perfection. Chapter 6, a group of 6 young men from Illinois, performed as part of the Shasta Community Concerts Association 2009-2010 Season. This group is absolutely one of the finest pure music groups I have heard in years. Singing A Cappela, the close harmony is reminiscent of the Four Freshman with added rhythms by the members themselves. Singing a wide variety of styles, this group is not only musically excellent, but they put on a very good 2 hour show. The 600 seated in cabaret style in the Civic Auditorium were spellbound for the entire program, as Chapter 6 went through songs ranging from Jump, Jive, and Wail to a great interpretation of The Wizard of Oz. Their rendition of Sweet, Sweet Spirit without the aid of microphones, was breathtaking, and literally one could hear a pin drop as they went through the various difficult key changes without missing a note.

Having performed in 45 of the United States, their universal appeal has resulted in one of the most diverse schedules in the music industry, and hats off to the Shasta Community Concerts Association for making this happen in Redding. A full schedule of programs is still lined up, and for further information one can go to  www.shastacommunityconcerts.com

Teen Challenge 35 Years Banquet-Nicky Cruz

What a great night at the Annual Teen Challenge of the Sacramento Valley sold out Banquet at the Holiday Inn in Redding, CA. Over 400 attended this exciting dinner, where the Teen Challenge New Life Choir and the Steven Randal Band provided the musical entertainment.

Nicky Cruz, an internationally known Christian speaker, held the audience in awe for over 45 minutes as he related his life in a New York City gang before meeting world wide Evangelist David Wilkerson, the author of the Cross and The Switchblade. Nicky related his upbringing and challenges of being one of a family of 17 originally from Puerto Rico. Since his conversion to Christ, Nicky has spoken to millions over the 30 years, and Redding was so fortunate to have this renown speaker with us here.

Hats off to the organizers. Ron and Patty Plumb are the area “Community Representatives” (pictured), as well as to the local Board of Ron Barnett, Bob Fruin, Rev. Harold Johnson, Gary Buffo, Jim Holdridge, Rev. Paul Tilley, and Ray toney.  Ex-Officio board members are Rev. Ron Fortenberry, Rev. Dick Rhoads, and Dale Winchester.  Former director Ron and Diane Lauritzen got special recognition for their 20 years of service. Special thanks to the Platinum Sponsors Ray Toney and Associates and Scarbrough Office Design, along with the 23 local businesses, churches, and individuals that were table sponsors.  Just a great evening. Many, many thanks to the many volunteers for making this great event happen.

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Ron and Patty Plumb…organizers for the Nicky Cruz Banquet. A great job, and thanks to all.

Ron Largent

Cal Football Update-Perspective

Cal Bears Football Off To a Good Start

OK…so the critics said “they will finish behind the Trojans”. I ask, will they? This is a real good Cal Bears Football team. I was at the Maryland game, and the score didn’t really tell the story, as Cal dominated from the first quarter on. This past week versus Eastern Washington, another repeat dominating performance. This is a good team. On October 3^rd we will be in for a “showdown” game against USC at Memorial Stadium, and if you do not have your tickets, forget it. Sold Out!

So what kind of a team is this year’s version of Cal Bears Football? First, they are very, very fast as a team, and the quickness shows up on both offense and defense. Their offensive line moves to the defensive line almost before the defense is set. Then, this group of quick backs, led by Jahvid Best, a legitimate Heisman trophy candidate, is through the line and into the linebackers and secondary before the defense can react. Really quick.

The defensive unit is equally as fast, and again, almost running to the ball as fast as the offensive running backs. In fact, on one sweep, the Maryland backs, and they were good, could not outrun the linebackers. These guys are quick and will prove difficult for every offensive line they will face this year.

The pass receivers for Cal were all over the place. Using multiple formations, it is almost as if the defense doesn’t know where they are going to come at them. Again, very quick and really hard to cover. QB Riley is greatly improved from last year, and he can choose between any one of the four receivers on most plays, and one of those fast wideouts seems to get open on almost every pass play. It is really fun to watch, for the receivers run as if they are “wound up”, with the corners chasing hopelessly, it seems. To stop these swift receivers is going to require a very fast secondary. Slow defensive backs will allow a lot of points, especially if Riley is on target.

Where is the team weak, is a good question. Probably in the defensive line, as they are not the “giants” that some of the Big 10 teams will field. If the opposing team is a big and strong running team, the Bears may be at a disadvantage. Hopefully they can make up for the size issue with speed, which they have done in both of the opening games.

Well, the season really kicks off this week with Pac 10 competition beginning, and in the next few weeks we will see just how good this Bears team is against good competition. My sense is that if they can keep healthy; keep the speedy guys in there; and avoid the injuries, this can be a championship contending team. And, they are really a fun team to watch, with a great variety of plays and sets…just a good football team. Go Bears!

Ron Largent

September 16, 2009