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info on new short sale laws sb 458 931 and the mortgage forgiveness debt relief act from top orange county short sale specialist mike pahu: INFO ON NEW SHORT SALE LAWS SB 458 & 931 by Mike Pahua
- 07/30/11 09:11 AM
CA SHORT SALE LAW UPDATES FROM http://www.shortsalesoc.com/ 7/15/2011: NO DEFICIENCY JUDGEMENTS ALLOWED ON JUNIOR LIENS Gov. Jerry Brown signed SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure 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 (SB 931 of 2010), 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 apply to junior lien … (0 comments)
CA SHORT SALE LAW UPDATES FROM http://www.shortsalesoc.com/
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