Eddy's Blog

My good friend Scott Gormley  http://activerain.com/lendingmagician was kind enough to write a blog about me reaching a milestone on this site. The milestone is that of reaching the 100,000 point plateau , http://activerain.com/blogsview/31085/A-Congrats-to-Eddy  and i really thank him for taking...

Escrow (continued) .... After escrow isopened, it is the escrow holder`s job to follow the lenders,  buyer`s and seller`s instructions. and request all parties involved to observe the terms and conditions of the contract. The escrow holder coordiantes communication between the principals, the age...

Escrow (continued) ....Does Escrow have to used? If so what specific law states that we must? No one is requirred by law to use an escrow for any of the previously mentionted transactions in my last blog , including the sale of real property. However, when a buyer and seller reach an agreement ab...

Escrow (continued) .....An escrow holder, otherwise known as an escrow company, or some other eligible person, acts as a neutral agent of both buyer and seller in a purchase transaction. In a refinance transaction the escrow holder is the neutral agent between the proposed lender and the borrower...

Escrow For a large number of people, excrow is a mysterious, obscure process. They do not know what "going to exrow" means, nor how you "open an escrow". There is no real mystery about it, however. It is a period during which the paperwork required for the sale or refinance of a deed of real prop...

Sublease  A sublease trnasfers possession of a leased property to a new person called the sublessee. The original tenant, who is now the sublessor, is still primarily liable for paying the rent to the owner. The sublessee is only liable to the sublessor. THis type of lease is called a sandwich le...

Transfer of a Lease :If the lease does not prohibit it , a lesee (tenant) may assign or sublease his or her interest in the property to another person. Assignment :An assignment is the transfer of the entire leasehold estate to a new person known as a assignee. The orginal lessee (assignor) steps...

The landlord must store any belongings left behind by the tenant after the eviction for exactly 30 days, charging the tenant a reasonable storage fee. An example of a unreasonable storage fee would be a full months rent for a week or less for the storage of their belongings. After that time, a pu...

 The landlord may file an unlawful detanier action in the municpal court if a tenant ignores or fails to respond to the notification to pay or quit. This document lists the charges against the tenant, who has then five days to respond after being served; otherwise, a default hearing is set. A wri...

If the tenant defaults on the rent or rfuses to give up the premises, the landlord may have to resort to the operation of law for removal. The legal remedy to remove a tenant is called unlawful detainer action or is also termed action in ejectment.  Steps in the Eviction Process :(1) Notice to Pa...