Bela Toledo, CPA's (bela) Blog

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Services for Real Estate Pros - McMichael & Toledo, CPAs
RECENT BLOG POSTS
Well, I got a response from HUD, but it wasn't the most helpful thing in the world. It looks like they haven't thought about, and don't intend to think about, the way their new rules interact with the existing rules of other federal agencies like the VA. This is unfortunate since these interactio...
12/30/2009
If you've heard anything about the new RESPA rules going into effect in January 1, 2010, you've undoubtedly heard that there are issues. One issue that jumps out at me is the handling of the VA non-allowable closing costs. I was all over HUD's RESPA site and VA's website and could find no answers...
12/22/2009
Today another new disclosure law goes into effect. This one is called the Mortgage Disclosure Improvement Act, or MDIA, and it really doesn't add much except additional time to the process. You must wait so many days after each set of disclosures to move on to the next step such as ordering the a...
07/30/2009
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Today is the day that the Home Valuation Code of Conduct goes into effect.  This is the set of rules designed to keep fraudulent lenders and appraisers from conspiring to inflate appraisals.  The actual effect is more likely going to be to harm the real estate market and consumers. The main chang...
05/01/2009
This week in Salem the 1031 Exchange tax deferral is coming under fire. The 1031 Exchange is a way for investors to defer paying capital gains tax on the sale of an investment property when they use the proceeds to buy another "like property." The 1031 Exchange is not a true waiver of the tax lik...
03/09/2009
The details of Obama's Financial Stability Plan are officially out, but there are still unanswered questions. The official website is up with the specifics of the two plans, one for high loan-to-value refinances for good borrowers and the other providing modifications for borrowers in danger of l...
03/06/2009
Unfortunately mortgage fraud has not fizzled out along with the real estate market. It's just changed. The new mortgage fraud preys upon desperate homeowners threatened with foreclosure, and these tough economic times are creating plenty of potential victims.The Foreclosure Rescue Scam is probabl...
03/03/2009
I've never liked the argument between more regulation and less regulation. Neither of those is the answer. What we need is better regulation that actually addresses the problem without bogging down the industry. I've written plenty about new regulations I don't like, but now I've found one that r...
01/26/2009
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 New Appraisal Rules On December 23rd the final Home Valuation Code of Conduct was released. The HVCC is a new set of rules designed to prevent undue influence on appraisers by lenders, mortgage brokers and realtors. While inflated appraisals may or may not be a significant problem (see my earli...
01/26/2009
We've been looking for someone to blame for the crash of the real estate market since the beginning. Maybe it was the homeowners borrowing more than they could afford. Maybe it was the subprime lenders selling those adjustable rate loans. Maybe it was the big investment bankers with their insati...
01/26/2009
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Bela Toledo, CPA

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