August 21, 2007 - So countrywide had to call an $11 BILLION credit line.
Surprised?
Not really. After attempting to refinance my house over the past few months, it seems every smaller bank and mortgage broker, when asked where are you sending my mortgage application, they all replied, "Countrywide". The backup, as they referred to it, was Wells Fargo.
I felt like calling up these brokers and aksing them today, who they are sending these apps to?
Countrywide, when I called them directly (I figured why pay a mortgage broker), and applied offered me a loan. However, when I declined the 7.25 offer as being HIGH, the rude person repsonded "WHAT WITH YOUR CREDIT SCORE, YOU'LL NEVER GET A LOAN...".
All I can say is I hope this person in their Houston call center has lost their job.
And I did get my loan. Locally.
So to all those banks and mortage brokers that jammed people through at Countrywide....
Good Luck.
Tuesday, August 21, 2007
Tuesday, August 14, 2007
NJM Insurance - Getting Cancelled
August 14, 2007 - This is somewhat off topic for RentLaw.com, but here it goes.
My auto insurance policy has been cancelled by New Jersey Manufacturers Insurance Company (NJM). Yes, I bounced a check, but I also assumed my automatic payment would be accepted.
I have been a GOOD customer of NJM since 1994. Time flies. So for 13 years they loved me. I paid, never had a claim - until 2005. That year, my licence plate hit the rear of a new Rav4. $536 in damage. Not bad.
Also in 2005, my wife decided to rear end another car in her s500. NO damage to the other car. Not even a claim filed by the other driver. However. that 5 MPH hit in a $95,000 car cost over $8,000 to repair.
Lastly, in 2005, I went 12 miles over the speed limit - 37 in a 25.
Shoot me.
I paid late. I pay late.
I was 4 days past my cancellation date notice before I remembered to call.
So I call NJM to get reinstated or find out why they didn't take my automatic payment.
I asked to get reinstated.
They made it sound like I was the worst person in the world.
We sent you letters.
You should be responsible.
You do not qualify for NJM.
BUT, they will let me go into NJM Reinsurance - at 3 times the rate (10,700 yr vs $3400 per yr). Funny.
For 13 years I WAS good.
I also added my daughter to my policy at age 17.
Now, after 13 years of paying them (3 times late), I am a BIG risk.
I was told to go find a broker to handle my needs.
I did.
Back over to ALLSTATE, the new ALLSTATE where I began driving some 30 years ago.
My next step is to take my homeowners policy from NJM and place it with ALLSTATE.
The moral is to be responsible. Don't ignore late notices, pay your bills on time (auto debit) and always shop for rates and, more importantly, SERVICE.
Customer Service.
That goes along way.
Not, hey, we have 700,000 policyholders, you think we have to call?
I'd would of been happy with a call from overseas telling me my policy is past due.
My auto insurance policy has been cancelled by New Jersey Manufacturers Insurance Company (NJM). Yes, I bounced a check, but I also assumed my automatic payment would be accepted.
I have been a GOOD customer of NJM since 1994. Time flies. So for 13 years they loved me. I paid, never had a claim - until 2005. That year, my licence plate hit the rear of a new Rav4. $536 in damage. Not bad.
Also in 2005, my wife decided to rear end another car in her s500. NO damage to the other car. Not even a claim filed by the other driver. However. that 5 MPH hit in a $95,000 car cost over $8,000 to repair.
Lastly, in 2005, I went 12 miles over the speed limit - 37 in a 25.
Shoot me.
I paid late. I pay late.
I was 4 days past my cancellation date notice before I remembered to call.
So I call NJM to get reinstated or find out why they didn't take my automatic payment.
I asked to get reinstated.
They made it sound like I was the worst person in the world.
We sent you letters.
You should be responsible.
You do not qualify for NJM.
BUT, they will let me go into NJM Reinsurance - at 3 times the rate (10,700 yr vs $3400 per yr). Funny.
For 13 years I WAS good.
I also added my daughter to my policy at age 17.
Now, after 13 years of paying them (3 times late), I am a BIG risk.
I was told to go find a broker to handle my needs.
I did.
Back over to ALLSTATE, the new ALLSTATE where I began driving some 30 years ago.
My next step is to take my homeowners policy from NJM and place it with ALLSTATE.
The moral is to be responsible. Don't ignore late notices, pay your bills on time (auto debit) and always shop for rates and, more importantly, SERVICE.
Customer Service.
That goes along way.
Not, hey, we have 700,000 policyholders, you think we have to call?
I'd would of been happy with a call from overseas telling me my policy is past due.
Thursday, August 09, 2007
Mortgage Center at RentLaw.com
August 9, 2007. RentLaw.com, The National Landlord Tenant Guide today announced an updated Guide to Mortgages.
In making the announcement, RentLaw.com publisher David Dorfman said "we want to inform our readers about mortgages in a clear and concise manner". Dorfman continued, " I am just about done with a refinance on my home and I can't tell you what I went through. I thought it would be a simple process and I relied on "friends" who were mortgage brokers. I finally wound up at a larger, but local, bank who quickly took the app and processed it, in person. There was intelligence in making the loan decision."
Dorfman said the on-going goal at RentLaw.com is to simplify the Real Estate transaction. "There are just many, many chances for errors or misunderstanding" said Dorfman. "It's an ugly process with all the forms, the tensions, and fear of buying or selling a home". On Mortgages and Credit, Dorfman said "today, with the mortgage market the way it is due to the lax lending practices, lenders have once again gotten tougher. In his opinion and experience, Dorfman believes this has enabled the lenders or brokers to abuse people based on their credit score. Abuse by way of charging a higher rate for questionable credit scores. "
For more information on Mortgages, Home Equity and Credit, please visit Rentlaw.com at these sites:
Mortgages
Home Equity
Credit
Learn more today at Rentlaw.com - The National Landlord Tenant Guides.
In making the announcement, RentLaw.com publisher David Dorfman said "we want to inform our readers about mortgages in a clear and concise manner". Dorfman continued, " I am just about done with a refinance on my home and I can't tell you what I went through. I thought it would be a simple process and I relied on "friends" who were mortgage brokers. I finally wound up at a larger, but local, bank who quickly took the app and processed it, in person. There was intelligence in making the loan decision."
Dorfman said the on-going goal at RentLaw.com is to simplify the Real Estate transaction. "There are just many, many chances for errors or misunderstanding" said Dorfman. "It's an ugly process with all the forms, the tensions, and fear of buying or selling a home". On Mortgages and Credit, Dorfman said "today, with the mortgage market the way it is due to the lax lending practices, lenders have once again gotten tougher. In his opinion and experience, Dorfman believes this has enabled the lenders or brokers to abuse people based on their credit score. Abuse by way of charging a higher rate for questionable credit scores. "
For more information on Mortgages, Home Equity and Credit, please visit Rentlaw.com at these sites:
Mortgages
Home Equity
Credit
Learn more today at Rentlaw.com - The National Landlord Tenant Guides.
Wednesday, August 08, 2007
Rent Control
New York, New York - August 2007: Rentlaw.com - The National Landlord Tenant Guides. Guide to Rent Control introduced by Rentlaw.com
Rent control refers to laws or ordinances that set price controls on the renting of residential housing. It functions as a rental price ceiling on residential rental property.
The Purpose of Rent Control - It is necessary to prevent landlords from imposing rent increases that force key-workers or vulnerable people to leave an area. Maintaining a supply of affordable housing is essential to sustaining an economy. Homeowners who support rent control point to the neighborhood instability caused by high or frequent rent increases and the effect on schools, youth groups, and community organizations when tenants move more frequently. To build a community, there must be stability.
Landlords - No Rent Control! - Rent control is criticized for creating a shortage of housing, reducing its quality, deterring investment and raising the price of unaffected rental units. If a price is artificially kept low, there will be higher demand for the low price housing, assuming it is habitable. When demand outpaces supply, there is a shortage.......
Read the complete guide to Rent Control on Rentlaw.com - The National Landlord Tenant Guides
About Rentlaw.com - The National Landlord Tenant Guide. Rentlaw.com is a National Landlord Tenant Guide whose guides are utilized by Attorneys, Landlords, Tenants, Real Estate Agents, Investors and anyone involved in Real Estate. Founded in 1998 by Real Estate Investor David Dorfman, Rentlaw.com today is a top destination for Landlord Tenant Law and additional services in the United States. Rentlaw.com continues it growth by adding more information while enhancing the overall web experience for users.Rentlaw.com is headquartered in Neptune, New Jersey.
For more information, visit www.rentlaw.com.
Rent control refers to laws or ordinances that set price controls on the renting of residential housing. It functions as a rental price ceiling on residential rental property.
The Purpose of Rent Control - It is necessary to prevent landlords from imposing rent increases that force key-workers or vulnerable people to leave an area. Maintaining a supply of affordable housing is essential to sustaining an economy. Homeowners who support rent control point to the neighborhood instability caused by high or frequent rent increases and the effect on schools, youth groups, and community organizations when tenants move more frequently. To build a community, there must be stability.
Landlords - No Rent Control! - Rent control is criticized for creating a shortage of housing, reducing its quality, deterring investment and raising the price of unaffected rental units. If a price is artificially kept low, there will be higher demand for the low price housing, assuming it is habitable. When demand outpaces supply, there is a shortage.......
Read the complete guide to Rent Control on Rentlaw.com - The National Landlord Tenant Guides
About Rentlaw.com - The National Landlord Tenant Guide. Rentlaw.com is a National Landlord Tenant Guide whose guides are utilized by Attorneys, Landlords, Tenants, Real Estate Agents, Investors and anyone involved in Real Estate. Founded in 1998 by Real Estate Investor David Dorfman, Rentlaw.com today is a top destination for Landlord Tenant Law and additional services in the United States. Rentlaw.com continues it growth by adding more information while enhancing the overall web experience for users.Rentlaw.com is headquartered in Neptune, New Jersey.
For more information, visit www.rentlaw.com.
Tuesday, August 07, 2007
Security Deposits
August 2007: Rentlaw.com - The National Landlord Tenant Guides.
It's coming that time of year again when there are many, many people moving. Summer is coming to an end and so are those summer rentals, families are moving, and there is a whole new group of college bound students.
Rentlaw.com publisher David Dorfman stated "this time of year we see a higher nunmber of complaints from tenants that their summer landlords are not returning their security deposits or holding an excessive amount. At Rentlaw.com we receive a number of inquires from college bound students whose off-campus housing landlord's may be requesting an excessive deposit". Dorfman continued, "The purpose of Rentlaw.com is to ensure all rental issues are known between landlord and tenant".
Most, if not all states have limits and what can be held for a security deposits and how soon a landlord must return the deposit or notice of damages.
If the Landlord Won't Return the Security Deposit?
Did your landlord not send you your security deposit or a list of deductions within the number of days required by your state law?
Do you believe your landlord wrongfully kept all or part of your deposit?
Do you want to get all or part of your deposit back? If so you can write a demand letter seeking return of the deposit. You should also be able to sue the landlord in Small Claims Court (see state guides for details on proper court for your filing.
Preventative Steps to Take to Ensure a Deposit Return: A tenant must meet all of the above conditions to ensure a refund of the deposit, but meeting those conditions is not all the tenant should do.
The chances of receiving return of the deposit will be increased if the following suggestions are also followed:
Move-in Inventory Inspection. When you move in your home or apartment, make a list and take photos of the apartment and any damage. Typically, you should do a walk through with the owner or manager prior to moving in. Get them to sign an acknowledgement of the damage and note what (if anything) will be done. This will help you when you move out.Move-Out Notice. A lease may require that the tenant give the landlord 30 days written notice prior to move-out in order to get the security deposit back. Even if the lease does not require it, notify the landlord prior to moving.Move-out Inventory Inspection. When the tenant prepares to move, the apartment or home should be cleaned and the landlord asked to appear for a move out inspection. The tenant should fill out another inventory form, similar to the move-in inventory. Ideally, you should have a copy of the original move in form - for both your use and the landlord.Turn in the Keys. The keys should be turned in on the exact day the tenant vacates the premises. If the keys are turned in later, the landlord may be able to charge the tenant additional rent or other charges under the lease. A tenant's actual move out date is often considered to be when the keys are turned in.
What Can the Landlord Deduct from the Security Deposit? A landlord cannot legally deduct for normal wear and tear. This refers to deterioration which occurs during regular, daily, intended use of the rental unit, for example nail holes in the walls from pictures or paintings. See our guide.
Deductions from the Security Deposit: If the landlord makes any deductions from the deposit, a written, itemized accounting of how much is being charged for each item must be sent to the tenant. If the landlord fails to provide such an accounting within 30 days after the tenant moves out, the landlord may forfeit the right to withhold any part of the deposit. Furthermore, the deductions taken from the deposit must be for actual damages suffered by the landlord.
How to Dispute Deposit Deductions: If a tenant receives a list of deductions, it is possible to dispute items on that list. The deductions should be addressed by the tenant in a letter sent to the landlord. The demand letter should include a response to each of the deductions, explaining which charges are being disputed and why. The tenant should keep a copy of the letter and send the original by certified mail, return receipt requested.If the tenant receives a partial refund along with the list of deductions and wants to dispute some or all of the deductions, the tenant may want to refrain from cashing the check. If the tenant must cash the check then the tenant should tell the landlord in the letter that even though the check has been cashed, it does not mean the tenant agrees with the amount of the check.
Normal Wear and Tear and Damage: The landlord can use the security deposit to repair damage for which the tenant is responsible. But the landlord cannot apply the security deposit to normal wear and tear.
For more on your state's security deposit law, visit the Security Deposit guide at Rentlaw.com - The National Landlord Tenant Guides.
It's coming that time of year again when there are many, many people moving. Summer is coming to an end and so are those summer rentals, families are moving, and there is a whole new group of college bound students.
Rentlaw.com publisher David Dorfman stated "this time of year we see a higher nunmber of complaints from tenants that their summer landlords are not returning their security deposits or holding an excessive amount. At Rentlaw.com we receive a number of inquires from college bound students whose off-campus housing landlord's may be requesting an excessive deposit". Dorfman continued, "The purpose of Rentlaw.com is to ensure all rental issues are known between landlord and tenant".
Most, if not all states have limits and what can be held for a security deposits and how soon a landlord must return the deposit or notice of damages.
If the Landlord Won't Return the Security Deposit?
Did your landlord not send you your security deposit or a list of deductions within the number of days required by your state law?
Do you believe your landlord wrongfully kept all or part of your deposit?
Do you want to get all or part of your deposit back? If so you can write a demand letter seeking return of the deposit. You should also be able to sue the landlord in Small Claims Court (see state guides for details on proper court for your filing.
Preventative Steps to Take to Ensure a Deposit Return: A tenant must meet all of the above conditions to ensure a refund of the deposit, but meeting those conditions is not all the tenant should do.
The chances of receiving return of the deposit will be increased if the following suggestions are also followed:
Move-in Inventory Inspection. When you move in your home or apartment, make a list and take photos of the apartment and any damage. Typically, you should do a walk through with the owner or manager prior to moving in. Get them to sign an acknowledgement of the damage and note what (if anything) will be done. This will help you when you move out.Move-Out Notice. A lease may require that the tenant give the landlord 30 days written notice prior to move-out in order to get the security deposit back. Even if the lease does not require it, notify the landlord prior to moving.Move-out Inventory Inspection. When the tenant prepares to move, the apartment or home should be cleaned and the landlord asked to appear for a move out inspection. The tenant should fill out another inventory form, similar to the move-in inventory. Ideally, you should have a copy of the original move in form - for both your use and the landlord.Turn in the Keys. The keys should be turned in on the exact day the tenant vacates the premises. If the keys are turned in later, the landlord may be able to charge the tenant additional rent or other charges under the lease. A tenant's actual move out date is often considered to be when the keys are turned in.
What Can the Landlord Deduct from the Security Deposit? A landlord cannot legally deduct for normal wear and tear. This refers to deterioration which occurs during regular, daily, intended use of the rental unit, for example nail holes in the walls from pictures or paintings. See our guide.
Deductions from the Security Deposit: If the landlord makes any deductions from the deposit, a written, itemized accounting of how much is being charged for each item must be sent to the tenant. If the landlord fails to provide such an accounting within 30 days after the tenant moves out, the landlord may forfeit the right to withhold any part of the deposit. Furthermore, the deductions taken from the deposit must be for actual damages suffered by the landlord.
How to Dispute Deposit Deductions: If a tenant receives a list of deductions, it is possible to dispute items on that list. The deductions should be addressed by the tenant in a letter sent to the landlord. The demand letter should include a response to each of the deductions, explaining which charges are being disputed and why. The tenant should keep a copy of the letter and send the original by certified mail, return receipt requested.If the tenant receives a partial refund along with the list of deductions and wants to dispute some or all of the deductions, the tenant may want to refrain from cashing the check. If the tenant must cash the check then the tenant should tell the landlord in the letter that even though the check has been cashed, it does not mean the tenant agrees with the amount of the check.
Normal Wear and Tear and Damage: The landlord can use the security deposit to repair damage for which the tenant is responsible. But the landlord cannot apply the security deposit to normal wear and tear.
For more on your state's security deposit law, visit the Security Deposit guide at Rentlaw.com - The National Landlord Tenant Guides.
Friday, August 03, 2007
Mold Guide introduced by Rentlaw.com - National Landlord Tenant Guide
Rentlaw.com introduces Mold Guide
Guide to Mold Basics and Mold Cleanup
New York, New York., August 3, 2007 - Rentlaw.com the National Landlord Tenant Guide announced today that it has introduced a free online Guide to Mold.
The new guide enables the reader to get a good understanding of what mold is and methods to handle it once discovered.
"The RentLaw.com team has added another feature that complements Rentlaw.com's mission to organize useful information for landlord and tenants and make it universally accessible and useful," said David Dorfman, Publisher of Rentlaw.com. "Our membership of over 100,000 constantly asks us to add more and more information, so we must continue to grow beyond just Real Estate Law. We always put our users first and are committed to innovating to improve their experience. Many, many tenants and homeowners are impacted by mold and it often is an issue in landlord - tenant disputes. This guide is a first step"
About Rentlaw.com - The National Landlord Tenant Guide. Rentlaw.com is a National Landlord Tenant Guide whose guides are utilized by Attorneys, Landlords, Tenants, Real Estate Agents, Investors and anyone involved in Real Estate. Founded in 1998 by Real Estate Investor David Dorfman, Rentlaw.com today is a top destination for Landlord Tenant Law and additional services in the United States. Rentlaw.com continues it growth by adding more information while enhancing the overall web experience for users.
Rentlaw.com is headquartered in Neptune, New Jersey.
For more information, visit www.rentlaw.com.
Guide to Mold Basics and Mold Cleanup
New York, New York., August 3, 2007 - Rentlaw.com the National Landlord Tenant Guide announced today that it has introduced a free online Guide to Mold.
The new guide enables the reader to get a good understanding of what mold is and methods to handle it once discovered.
"The RentLaw.com team has added another feature that complements Rentlaw.com's mission to organize useful information for landlord and tenants and make it universally accessible and useful," said David Dorfman, Publisher of Rentlaw.com. "Our membership of over 100,000 constantly asks us to add more and more information, so we must continue to grow beyond just Real Estate Law. We always put our users first and are committed to innovating to improve their experience. Many, many tenants and homeowners are impacted by mold and it often is an issue in landlord - tenant disputes. This guide is a first step"
About Rentlaw.com - The National Landlord Tenant Guide. Rentlaw.com is a National Landlord Tenant Guide whose guides are utilized by Attorneys, Landlords, Tenants, Real Estate Agents, Investors and anyone involved in Real Estate. Founded in 1998 by Real Estate Investor David Dorfman, Rentlaw.com today is a top destination for Landlord Tenant Law and additional services in the United States. Rentlaw.com continues it growth by adding more information while enhancing the overall web experience for users.
Rentlaw.com is headquartered in Neptune, New Jersey.
For more information, visit www.rentlaw.com.
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