anti deficiency short sale law: Breaking News: No Deficiencies For Any Mortgage in a California Short Sale - 07/15/11 09:13 AM
Yup, Governor Brown signed SB 458 this week. I know this because my husband covers the Capitol for Associated Press. Senator Corbett's bill 458 will extend anti-deficiency protection for all mortgages in a short sale. Presently, SB 931 added Civil Code 580e in January, which prohibited first mortgage lenders from pursuing a seller for a deficiency after a short sale.
SB 458 takes effect immediately as an urgency statute. It applies to 1 to 4 units in California, and only for a short sale. Junior lenders such as a second or third mortgage can no longer pursue a deficiency after a … (17 comments)

anti deficiency short sale law: 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)

 
Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold)

Elizabeth Weintraub Sacramento Realtor Top 1%

Put 40 years of experience to work for you

Sacramento, CA

More about me…

RE/MAX Gold

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

Office: (916) 233-6759

Mobile: (916) 233-6759

Email Me

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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