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New Foreclosure Law (SB 1137) Effective Immediately Select Provisions Delayed for 60 Days Bulletin 08/09-9 - July 9, 2008 As a result of the subprime loan market collapse, numerous bills were introduced this year in the California Legislature, including the recently enacted SB 1137. Within this h...
Short Sales are like Pre-Foreclosures. The owner is behind on payments and is trying to sell the house before the bank forecloses. Short Sale refers to the sellers attempt to sell the house for less than what is owed. This can only occur if the bank allows it. The bank, not the seller, ultimate...