California Passes New Law on Short Sales

Real Estate Agent with Keller Williams Realty

What great news for California homeowners that need to sell their homes! 

Under a new state law, any lender who agrees to a short sale must accept the approved short sale price as payment in full for ALL loan balances.  This includes taking care of any junior lienholders, who often hold out for exorbitant fees and ruin short sales for homeowners trying to do the right thing and sell short instead of walking away.

For short sale assistance and to help understand your options give me a call at 951-837-5782 in Riverside County or 619-200-8284 in San Diego County.  You can also email me at

I look forward to working with you and helping you understand your options!


Brian Riesenberg

Realtor / Broker Associate

Keller Williams Realty

Phone: 951-837-5782



Comments (2)

David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

This is good news..... Thanks for the update...  - David

Jul 27, 2011 07:13 AM
Doug Bullwinkel
Envoy Mortgage,NMLS ID 6666 - Sacramento, CA
Mortgage Loan Originator NMLS #281609

More good news.  Now if only the banks can figure out how to accept and close these short sales in less than 6 months, what a wonderful world it could be.

Jul 27, 2011 07:14 AM