California Insurance Commissioner Ricardo Lara has ordered the Fair Plan, the state’s insurer of last resort for homeowners and renters who can’t get coverage elsewhere, to double the coverage limit on its bare-bones homeowner’s policy and begin offering a comprehensive policy alongside it.
The move comes at a time when many more people living in regions at risk of wildfires, including parts of the Bay Area, are having a hard time getting or keeping insurance from mainstream carriers licensed and regulated by the department. Their only options are to get a policy fr...
A handful of important state laws related to housing have been passed by the California legislature, including the Housing Crisis Act of 2019 (SB 330), which provides a set of limited reforms to the Housing Accountability Act (HAA), Planning and Zoning Law, and Permit Streamlining Act. These new laws, most of which would take effect in January 2020 if signed into law by Gov. Gavin Newsom, are of interest to project proponents and local agencies:
SB 330 limits jurisdictions' abilities to move the goalposts for housing development projects during their application...
ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its October 2019 U.S. Foreclosure Market Report, which shows there were a total of 55,197 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October 2019, up 13 percent from the previous month but down 17 percent from a year ago.
"While foreclosure activity across the United States rose in October, in looking at historical trends, October nu...
The Maria Fire in Southern California threatens thousands of structures and has forced almost 11,000 people to evacuate. There's no end in sight for firefighters, or for homeowners living in fire-prone areas. Many have had their insurance policies dropped and are desperate for coverage.
Frances Mann Craik is among at least 350,000 Californians whose fire insurance policies have been canceled. She had the same coverage for 18 years.
"I've paid thousands and thousands of dollars in premiums and insurance and never gotten a cent back," Craik said.
or some homeowners, a home equity line of credit (HELOC) offers a solution for financing extended remodeling projects or other open-ended undertakings that require long-term funding. HELOCs generally offer variable interest rates that start off low, making HELOCs attractive sources of money for borrowers. Unfortunately, borrowers might also ignore the many drawbacks associated with these loans.
Before you borrow from your home's equity, it is critical to understand exactly what a HELOC is, what it isn't, and how to avoid falling into financial trouble with this...
An opinion recently published by California’s Second Appellate District — Gietzen v. Covenant RE Management, Inc. — addresses the impact of foreclosure on the rights of a third party beneficiary to a lease.
Facts: commercial tenant obtains judgment against landlord limited partnership; tries to amend judgment to include landlord’s general partner
Yolanda’s Inc. owned and operated a restaurant in the Seabridge Shopping Center in Oxnard, and leased space from a limited partnership (Rocklin Covenant Group, LP) and a related LLC. Yolanda’s president Rod Gietzen p...
Imagine a health-care system in which doctors and nurses are so exhausted and beaten down that many of them work like zombies — error-prone, apathetic toward patients and at times trying to blunt their own pain with alcohol or even suicide attempts.
That is what America’s broken health care system is doing to its health workers, according to a 312-page report released Wednesday by the National Academy of Medicine, one of the country’s most prestigious medical institutions.
The report found that as many as half of the country’s doctors and nurses experience substantia...
Sembule Group was the first company owned by Ugandans to manufacture steel products, including wire mesh and nails. It became household name when it extended to financial services by starting the Sembule Investment Bank, an insurance firm - Pan World Insurance and a television and radio assembling plant.
In the late 90s, it also ventured into manufacturing energy saving bulbs. The company’s troubles started in 1997 when it acquired a loan from PTA Bank to expand its banking experience but the bank [Sembule Investment Bank] was run down by poor management, according...
Blue Shield of California (BSC) is launching a real-time claims payment pilot in Sacramento with assistance from OODA Health and Dignity Health, according to an announcement Wednesday morning.
As part of the collaboration, patients will be issued consolidated medical bills closer to the time when care was provided and have the option to choose when they will pay their balance, either immediately or in installments.
Jeff Semenchuk, chief innovation officer at BSC, said the first claim through the pilot has already been processed.
Three officers of a mortgage company have been arrested on a 121-count felony indictment for allegedly operating a mortgage fraud scheme that mostly targeted seniors and resulted in losses of more than $7 million, state Attorney General Xavier Becerra announced Friday.
The specific counts against Steven Rogers, Robert Sedlar and Audrey Gan include conspiracy, grand theft, elder abuse, filing false or forged documents in a public office and engaging in a prohibited act as a foreclosure consultant.
The victims, many of whom were elderly and in financial distress,sought...
Three people associated with Grand View Financial LLC have been indicted for running a mortgage fraud scheme throughout California, including San Diego County.
The scam targeted many elderly and financially distressed homeowners by promising mortgage and foreclosure relief, with combined losses totaling $7 million, according to California Attorney General Xavier Becerra.
“Individuals who prey on vulnerable communities to enrich themselves will be held accountable by the California Department of Justice,” said Becerra in a statement released Friday.