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new short sale law: SB 458, Senate bill 458 now CCP 580E - no deficiency after short sales in CA - 07/18/11 08:54 PM
Breaking News...
Short Sales in California just got easier... or did they?
 
With the passage of SB 458 into law California's legislature just ameded
CCP 580e to now releases hort sellers from the deficiency on junior liens.
580 already worked to release the deficiency or remaining loan balance on senior liens.
 
On its face this is probably a great amendment for upside down home sellers.
We are pretty sure this will have a positive overall effect for
upside down home owners but... there could be some downside.
 
We will discuss in future posts why it may be more … (3 comments)

new short sale law: Short sales in CA - Warning to Realtors about the new foreclosure consultant law - 01/31/09 02:57 PM
 
Only July 1, 2009 California is going to require foreclosure consultants to have a surety bond of 100,000 dollars. It also states a foreclosure consultant can not take a power of attorney from the homeowner for any purpose.
Note: an Authorization to Release Information is a Power of Attorney. It is even called a Power of Attorney by some "loss mitigators" on the east coast.
This is my legal opinion - once the NOD is filed – a non attorney will no longer be able to represent borrowers in short sales or Loan Modifications – unless they can find a … (16 comments)

 
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San Diego Short Sales, Orange County Short Sales

San Diego, CA

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McConnin & Company Realty, short sale Attorney - Broker

Address: San Diego Short Sale, Carsbad Realtor, Carlsbad, CA, 92009

Office Phone: (760) 896-4663

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