short sale: Selling Short in California?
- 07/21/11 06:10 AM
If you are faced with selling your house short in today's market, you NEED to know this updated information. According to a release from the California Association of REALTORS: Gov. Jerry Brown has signed SB 458 (Corbett) into law. SB 458 ensures that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans. Under previous law , a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not … (1 comments)
If you are faced with selling your house short in today's market, you NEED to know this updated information. According to a release from the California Association of REALTORS:
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