San Diego short sale and foreclosure advisor

Home : Blogs : San Diego Short Sales San Diego Real Estate Attorney : San Diego short sale and foreclosure advisor : Archives September, 2007

California short sales - pitfalls especially for non recourse loans - 09/24/07 12:41 AM

Prior to agreeing to do short sale the homeowner should have his advisor (lawyer) read the closing documents. Especially the documents from the lenders.
Does the lender instruct the closing agent to remove the lien only.
Does the lender require the borrower to sign or new note or state the homeowner will … (3 comments)

Real Estate Short Sale law? - Full and final Settlement? - 09/22/07 09:18 PM

If you type short sale into google - you will see the ads from all of the short sale advisors and short sale realtors out there. One statement you consistently see is - a short sale enables the borrower to avoid a deficiency because it is a full and final settlement … (12 comments)

Short sale strategy - The goals of a short sale - Response to a loan Broker - 09/21/07 12:24 AM

In my previous post on short sale, I stated that when working with San Diego homeowner on pre foreclosure solutions and short sales we usually worked out some goals that revolved around these concepts - 1. Avoid or minimize deficiency. 2. Avoid or minimize tax liability.3. Avoid or minimize damage to … (4 comments)

Short sale strategy - The goals of a short sale for a san diego homeowner - 09/17/07 09:41 AM

Short sale and pre-foreclosure strategy. What might your objectives be and how should you accomplish those goals?
For most upside down homeowners the threshold question is - keep the home or let it go. Lately the large majority are saying let it go. Many homeowner in San Diego and Florida are … (6 comments)

Short sales California - Beware deficiency collections - It is happening - 09/14/07 05:06 PM

This is email about a closed short sale in California - it was sent to me via active rain. That this question even exists is a shame. Here is the question. I wanted to find out what the law is in California. San Joaquin Valley. My Mom sold her home … (3 comments)

short sale san diego - california foreclosure case law - 09/10/07 08:00 PM

This is a follow up to previous posts about short sales, a Heloc and a potential deficiency judgment for a sold out junior. I told one of the Realtor - some attorneys believe the 9th circuit may have muddied up the analysis of junior liens. The case is Prestige Ltd. v … (3 comments)

Short Sale negotiating strategy - truth in lending violation - 09/07/07 08:14 PM

If your lender is not cooperating in your negotiations. You have tried deed in lieu and short sale, it is time to get tough.
Here is one way to get tough. Make the bank prove that they complied with this:
http://www.fdic.gov/regulations/laws/rules/6500-1400.html
This is the federal truth in lending disclosure requirements. Regulation z. … (6 comments)

California Real Estate Law - Is a home equity loan non recourse - 09/06/07 01:16 AM

Here is a great question I got the other day from an on the ball Realtor. I have told him I am going to research the case law to pin this question. I already have my basic answer but if Indymac were coming after me I would not feel too comfortable … (30 comments)

Are Short sales practices destroying the market? (part 2) - 09/04/07 01:41 AM

Below is a comment from a thoughtful Realtor - with some interesting points. I will break his comment down. His comment is in quotes and my thoughts are below each section.
"Interesting take John. But it's been my experience that the lender will not even talk to me until I have … (11 comments)

Are Short sales practices destroying the market? - 09/03/07 03:18 PM

Have you seen how many Listings on your MLS are short sales. I have heard it estimated that at least 10% of the listings in San Diego are short sales. And I am seeing short sales proliferate in Florida as well. How many of those listing prices are fantasy prices which … (10 comments)

Should a San Diego homeowner refinance - 09/02/07 02:13 AM

A San Diego homeowner asked me if she should refinance her property in Carlsbad. It is a good question. In an up market it seems like a simple question every mortgage broker would answer yes - why not if you can lower your payments or take some cash out without … (2 comments)

Related Links:

All member posts for September, 2007

New members in September, 2007