short sale assistance: CA Law SB 458 Forbids Deficiency Judgements for 2nd lien holders in Short Sales
- 07/18/11 06:06 AM
If you were hesitant to doing a short sale…as of Friday, July 15, 2011… Governor Jerry Brown has all but removed every road block for the average homeowner in Los Angeles, California to proceed in full protection from any bank recourse. In an effort to protect all of us from banks, California Governor, Jerry Brown eliminated banks, servicers or any secondary lien holders from pursuing judgements. The new law is a build on California Civil Code Procedure 580E that was added last year and came into effect January 1, 2011. This revision protected home owners completing short sales from the first lien holders and also … (0 comments)
short sale assistance: The Benefits Of A Short Sale -vs- Foreclosure
- 07/15/11 06:28 PM
Who would have thought that we as a Nation would be going through such financial turmoil just a few short years ago… We were at a family BBQ yesterday, and as we followed our GPS to our destination we were saddened but not surprised of all the homes that were boarded up with “No Trespassing” Signs. Not to mention all of the commercial buildings along the freeway with huge banners “For Lease” in what seemed to be every shopping center we passed. It’s painfully obvious that our economy has a way to go on the long road to recovery, and … (1 comments)
short sale assistance: California Association of Realtors Releases New Short Sale Website for Consumers
- 04/04/11 07:58 AM
A short sale is a sales transaction for which a seller’s mortgage lender voluntarily agrees to accept a loan payoff of less money than what is owed on the mortgage loan. In a short sale, the property may or may not be in foreclosure. However, homeowners may consider short sales as a viable option for avoiding foreclosure. http://www.shortsalescalifornia.org/consumers/
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