THE OAKWOOD ORACLE

Should old acquaintances be forgotten,
And never brought to mind?
Should old acquaintances be forgotten,
    And days of long ago

 

OAKWOOD ESCROW WELCOMES 2014!

 

In this issue of the Oakwood Oracle we discuss new tax law changes for 2014. There are also new rules for tax collectors that may affect potential home buyers!

 

Are the new CFPB (Consumer Financial Protection Bureau) rules going to make it even harder for affordable housing?

 

Don't miss the 4th annual Thank you Run video and the latest on Oakwood TV!

  
Happy Reading!
  The Staff at Oakwood Escrow
The Staff at Oakwood Escrow
OAKWOOD ESCROW GAVE BACK OVER $20,000 IN 2013 TO LOCAL NON-PROFITS & CHARITIES!!!!
 HELP US REACH OUR GOAL OF $40,000 FOR 2014!!
Some charities we support are:
The Susan G. Komen Foundation, The H.O.P.E Foundation, RB Community Foundation, Borrego Springs Soroptimist Club, RB Spirit of the Fourth, Helen's Closet, 4S Ranch ~ Del Sur Community Foundation, Ms. Rancho Bernardo Scholarship Pageant, Wounded Warrior Homes, Ed Brown Senior Center, Toys 4 Tots & The Warrior Foundation
Five Huge 2014 Tax Law Changes You Need to Know About!

Tax law changes every year. Laws are updated, loopholes are closed and other adjustments are made. Some of these changes affect virtually all wage earners while others might affect only small businesses or higher-income taxpayers.
  
New, Tighter Mortgage Rules: Who's Squeezed Most?
Five years after the housing collapse, the new Consumer Financial Protection Bureau is closing the barn door on the loose lending that caused the crisis. But as homebuyers struggle to get financing for new homes, some critics fear the door could be permanently nailed shut for many people seeking affordable housing.

CLICK TO READ MORE!
  
New Bill SB 233 on Fair Debt Buying Practices goes into place January 1, 2014
Have you ever lost a commission because your client has very old debt that resurfaces long after the statute of limitations?
  
Many debt collectors "buy and resell"  debt, time and time again in the hopes of collecting by continuing to "roll the debt forward".

 

Governor Brown has signed SB 233 to Fair Debt Buying Practices Act to further shield consumers from improper collection practices. 

 

The new law applies to consumer debt "sold or resold" on or after Jan. 1, 2014 but can cerainly be used to create pressure on collectors attempting to unfaily pressure consumers prior to Jan 1st.

 

"Debt buyers" (i.e. collection agencies and attorneys) must have IN THEIR POSSESSION proof they are:
  
a) The sole owner of the debt.

b) The amount of account balance at charge off.

c) Date of default or last payment.

d) Name and address of both the creditor and debtor at the time the debt was charged off.

e) A complete chain of title on the account if bought and sold multiple times.

f)  The debt buyer must make all documents without charge, upon request, within 15 days.

g) All settlement agreements by a debt buyer who receives a payment must provide a receipt or statement.

h) If the debt is legally too old to file a lawsuit, but still can be reported to the credit bureaus, the debt buyer must use the following language in its first written communication:

"The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it. If you do not pay the debt, we may continue to report it to the credit reporting agencies as unpaid for as long as the law permits this reporting."

i)  If the debt is older than the statute of limitations (4 years in Ca.)  and credit bureau reporting (7 yrs.) the following must be included in the letter:

"The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it, and we will not report it to any credit reporting agency."
  
CLICK HERE TO VIEW BILL SB233
  
OAKWOOD SUPPORTS OUR PARALYZED VETERANS!!
Our very own, Aaron Lawler, played guitar at the Paralyzed Veterans of America Holiday luncheon at the VA Hospital in La Jolla! Most of the people there had suffered a debilitating spinal injury that has left them without use of their legs or worse. They loved the live music and you could see their spirits lifting as the group did their Holiday music set.
 
In This Issue
Word Around Town
NSDCAR Commercial RE Marketing Meeting-Friday, January 10th from 9:00 AM- 10:30 AM
SDAR Installation Dinner and Dance -Saturday, Janurary 11th from 6:00 PM- 11:00 PM 
6 Degrees Mixer at South Paw Social Club- 
Wednesday, Janurary 22nd from 5:30 PM- 8:00 PM
6 Degrees Breakfast Speaker Series, Real Estate Trends -Thursday,  January 30th from 7:30 AM- 9:30 AM 
PREP 2014 Installment Party-Saturday, February 1st from 6:00PM to 10:00PM


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To appear as a Real Estate Expert on Oakwood TV, please email your contact information and why you should be chosen to:  info@oakwoodtv.tv
4th Annual Thank You Run 2013

4th Annual Thank You Run

CLICK IMAGE TO VIEW VIDEO!

Escrow Officers
 
Pam Reifeiss
858-217-5264
  
  
 Kitty Toft  
858-217-5251
   
  
Maureen Healy
858-217-5253
  
  
  Shelley Wells
858-217-5241

 
Pam Lawrence

858-217-5264

 

 

Deborah Boykin-Stettler

858-217-5247 

OAKWOOD ESCROW'S HOLIDAY PARTY AT AVANT
Rancho Bernardo Inn