Change is in the Wind . . . Get Ready for HERA / HOEPA
Carla Muss-Jacobs
June 12, 2009
These two acronyms (HERA / HOEPA) are going to come up more and more . . . and you thought "Loan Modification" was the latest mortgage jargon du jour? Get used to hearing HERA/HOEPA.
PricewaterhouseCoopers has published an informational document: "Understaing the Housing and Economic Recovery Act of 2008 (HERA) and
Carla Muss-Jacobs, ABR, CEBA, e-Pro, Broker/Owner of EBA Portland, LLC. an EXCLUSIVE BUYER AGENCY located in Portland, Oregon. She practices the "true" form of buyer agency: 100% buyer representation, 100% of the time.
WHY? Buyers have been underrepresented in the market. Listing agents represent the Sellers ... not the Buyers. Whatever a buyer says to the listing agent (at an open house, calling on a For Sale sign) may actually hinder the buyer in further negotiations.
Buyers have "emotions" with a home purchase. "You find the house you love ... I'll do the rest," focusing on the true bottom line in real estate: the legal aspects of contracts, the material and substantive issues involved in a home purchase.
Carla has a B.S. in Social Science, over 15 years in the legal industry as a legal assistant/paralegal. She is a Certified Legal Secretary (1987) through the Beverly Hills Bar Association.
Carla is an Accredited Buyers Agent and e-Pro (through the National Association of Realtors®), and a Certified Exclusive Buyers' Agent (through NAEBA, the National Assoc. of Exclusive Buyer Agents, a non-profit established to assist BUYERS!)
An EBA by choice, she knows both sides of the transaction, and is happy to answer general real estate questions with knowledge of the ever-changing markets. (Licensed in Oregon).