A look at the state legislation affecting real estate enacted during the 2011-2012 legislative session, and federal legislation enacted in 2011.
California governor Jerry Brown has proposed the consolidation of the Department of Real Estate (DRE) into a bureau within the Department of Consumer Affairs (DCA), as outlined in his January 2012 budget proposal. In order to cut administrative costs and encourage efficiency, the DRE and other licensing departments would be absorbed into the DCA. The [...]
Home purchases occasionally fall through at the last minute when the lender’s appraisal comes in at a lower figure than the price set by the buyer and the seller. When this happens, the lender rejects the loan and counters, offering to lend a reduced amount set at an LTV based on the new appraised value [...]
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