sb 931: Don't Look to SB 458 To Save Your Butt in a Sacramento Short Sale - 11/08/11 01:50 AM
There is so much confusion surrounding SB 458 these days. You can tell who is on the ball in the land of Sacramento short sales by how they interpret SB 458. Agents who don't know what they are doing will say SB 458 makes short sales easier because now second lenders can't go after sellers. That is just not the case; it's not easier. Other agents will say SB 458 slows down short sales if they involve two loans on a short sale. Not true, either.
And yet a third bunch of 'em will say SB 458 lets sellers contribute to … (6 comments)

sb 931: California's Short Sale Anti-Deficiency Law, SB 931, Takes Effect January 1, 2011 - 12/31/10 03:49 AM
Because today is Dec 31, 2010, most County Recorder's offices are closed throughout California, although, I can't imagine any Sacramento short sale seller wanting to close at the end of December with SB 931 positioned on the horizon. SB 931 is the anti-deficiency law passed in California that says when a lender in first position agrees to a short sale, it cannot pursue the seller for a deficiency judgment. It does not apply to foreclosures.
I'm working on 3 Bank of America short sales at the moment, all of which were scheduled to close this week. In 2 of these short … (31 comments)

sb 931: The Truth About Short Sales and Purchase Money Loans - 10/15/10 04:01 AM
You know what makes me feel warm and fuzzy all over? More than a cat crawling under the bed covers at 5 AM and purring? When a prospective client calls, and I look up the loan in the tax rolls to discover this potential short sale involves a purchase money loan. Because purchase money loans in California are non-recourse. But a purchase money loan doesn't mean it's free sailing for the seller. Not many short sale agents realize that, nor do their sellers.
I handle all sorts of Sacramento short sales. From Lincoln to Galt. From purchase money to hard money. … (4 comments)

sb 931: Breaking News: Anti-Deficiency Protection for Short Sales Signed Into Law In California - 10/06/10 02:51 AM
If a seller in Sacramento, -- or anywhere in California for that matter -- ever needed a good reason to do a short sale over a foreclosure, the fact that SB 931 was signed into law by Governor Schwarzenegger on Sept. 30th should be reason enough. First lenders can no longer go after a short sale seller of one to four units. Of course, the protection against a deficiency judgment is only for a first trust deed, but it no longer matters whether that first loan was purchase money (non-recourse) or hard money (recourse). It does not apply to subsequent or … (13 comments)

sb 931: Breaking News: SB 931 Bans Deficiency on California First Mortgages After a Short Sale - 08/23/10 03:26 AM
In the most exciting news since Pop Cap introduced Peggle, it's possible that California short sale sellers with a first mortgage may no longer have to worry about a deficiency judgment after a short sale. I've been following SB 931 with great interest and discovered it just passed the Senate on Thursday unopposed. It's already cleared the Assembly.
California sellers who are granted a short sale by a lender holding a first mortgage will now be exempt from a deficiency judgment, even if that first mortgage was a hard money loan, providing that Governor Schwarzenegger signs it. And why wouldn't he? … (15 comments)

 
Elizabeth Weintraub Sacramento Broker, Put 40 years of experience to work for you (Elizabeth Anne Weintraub, Broker)

Elizabeth Weintraub Sacramento Broker

Put 40 years of experience to work for you

Sacramento, CA

More about me…

Elizabeth Anne Weintraub, Broker

Address: 3620 Fair Oaks Blvd, Sacramento, CA, 95864

Office: (916) 233-6759

Mobile: (916) 233-6759

Broker-Associate at RE/MAX Gold, Midtown and Sierra Oaks Sacramento office. Co-partner Weintraub & Wallace Realtors. Selling since 1974. Homebuying expert at The Balance. Weintraub & Wallace sells homes from Galt to Lincoln.
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Author Bio: Elizabeth Weintraub is a Sacramento real estate broker, author, home buying expert for The Balance, a Land Park resident, who specializes not only in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento but sells extensively from Elk Grove to Lincoln. Weintraub is prominently known as the #1 Sacramento Short Sale agent throughout the Sacramento four-county area. Call Elizabeth Weintraub at 916.233.6759. Put 40+ years of real estate experience to work for you.



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