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California Realtors - Urge Governor Schwarzenegger to sign SB 1178!

By Kathleen Daniels, Probate & Trust Specialist

Real Estate Broker/Owner with KD Realty - 408.972.1822 CA DRE#01366594

August 25, 2010 02:47 PM

Calling all California Realtors

California's legislature recently passed SB 1178 which is the bill to extend anti-deficiency protection to homeowners who have refinanced. SB 1178 will ensure that homeowners keep the same "anti-deficiency" protections they have in the original loan after the loan has been refinanced.

Now California Realtors have the opportunity to use our collective voice.

California Flag

If you have not yet acted on the C.A.R.RED ALERT asking California Realtors to contact Governor Schwarzenegger and urge the Governor to sign SB 1178 ... consider taking a few moments to do so. Thank You!

San Jose Homes for Sale

Certified San Jose Short Sale Specialist

Certified HAFA Specialist

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Todd & Devona Garrigus

Garrigus Real Estate - Beaumont, CA

Broker / REALTORS®

Kathleen - Yes! Please all REALTORS in California please do this, and please reblog this!

BTW, I just did this and it took 30 seconds! Please let your voice be heard and help your industry!

Aug 25, 2010 02:55 PM

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Todd & Devona - Thank You - Thank You - Thank You! Clients / homeowners can take action as well!

Aug 25, 2010 03:12 PM

Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

I'm not from Ca., but it sounds like it's an important issue. Good luck with this....

Aug 25, 2010 03:27 PM

Mary Macy

Top Agents Atlanta Metro - Roswell, GA

Top Agents Atlanta Metro

I guess my only question is what is California doing to its future. If lenders have no assurance that they can make enforceable loans in California, then will the lenders leave California and how will you all finance homes in the future??? Why would lenders continue to make mortgages in a state where the government is going to step in and make them forgive the balances, seems counterproductive and a way to drive lenders out of your state. Maybe I am wrong, but where is the incentive for lenders to continue to do business in your state???

Aug 25, 2010 04:26 PM

Larry, it is an important issue. It really levels the playing field … SB 1178 will patch a hole in the existing law. Thanks for your comment.

Aug 25, 2010 05:22 PM

Mary, FYI - The State of California is bankrupt. SB 1178 is designed to close a loop-hole in the existing law. CA is an anti-deficiency state … SB 1178 will allow homeowners who refinanced their loan (did not pull money out – and did not use their equity as an ATM) to have the same anti-deficiency protections as homeowners who did not refinance.

Aug 25, 2010 05:25 PM

Cherise Selley

Selley Group Real Estate, LLC - Colorado Springs, CO

Colorado Springs Realtor

Gordon here for Cherise...Let's hope the terminator doesn't damage create an apocalyptic scenerio for CA homeowners about SB 1178.

Aug 26, 2010 06:00 AM

Hey Gordon, We can only wonder how much more damage the Terminator can do! Thanks for stopping by!

Aug 26, 2010 12:22 PM

Anonymous

Jen

Hey there - so the governor vetoed this bill this month. Will there be another effort to get such legislation passed in 2011? Is there anything on the horizon?

Oct 29, 2010 07:02 PM

Jen, I continually educate myself on the ever-changing market. As I become aware of new legislation … I do write about it. Check back often for updated. Thanks for your comment.

Oct 30, 2010 03:41 AM

The Villages Realty

The Villages Realty - San Jose, CA

"Our Performance Will Move You!"

Kathleen, you always write great posts. If anyone is thinking of buying or selling their home in San Jose, California we strongly urge your to use Kathleen Daniels, Realtor.

Nov 14, 2016 02:39 AM

Eagle Ridge Realty

Eagle Ridge Realty - Gilroy, CA

For those looking for a Realtor to buy or sell their home in San Jose, California, Kathleen Daniels offers the years of experience and knowledge to help you get to where you want to go!

Nov 14, 2016 02:54 AM

We're haveing some fun reading your older posts. There is some good stuff here.

Oct 04, 2017 06:54 AM

Nancy Frimann

Eagle Ridge Realty/Signature Homes & Estates - Gilroy, CA

Hoping some business comes to you. Great localized post.

Aug 26, 2018 06:23 AM

California Realtors - Urge Governor Schwarzenegger to sign SB 1178!

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