Tag Archives: Distress Sales

Short Sale Deficiency-New Law-Is This Good News?

ShareTweet No Short Sale Deficiencies: Starting January 1, 2011, a seller’s first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale.  Providing written consent to a short sale shall obligate the first trust deed … Continue reading

Posted in Active Rain | Tagged , | Leave a comment

Desperate Homeowners, Bargain Hunting Buyers and Unsavory Home Inspectors: Another Perfect Storm?

ShareTweet Working with a few Short Sales lately, I discovered a pattern that made me take notice. Here you have a Seller who is facing losing their home. The Lender has agreed, the SS package is in, and the Buyers … Continue reading

Posted in Active Rain | Tagged , | Leave a comment

Deed in Lieu vs. Short Sale

ShareTweet     A client of mine called me today. I represent him in a short sale and he had just gotten a call from the Negotiator. It appears that the Lender (Chase) was in receipt of the short sale … Continue reading

Posted in Active Rain | Tagged , | Leave a comment

Bill to Prevent Avoidable Foreclosure Clears California Senate

ShareTweet Bill to Prevent Avoidable Foreclosure Clears California Senate Legislation that would help prevent avoidable foreclosures and deter irresponsible lender and servicer behavior recently passed out of the California Senate, 21-12. “Simple fairness dictates that no one should lose their … Continue reading

Posted in Active Rain | Tagged , | Leave a comment

Bill SB 1178 Passes Senate-Realtors Tell Your CLients-This is Great News

ShareTweet BILL SB1178 PASSES SENATE SB1178 was just approved by the Senate, over Lender opposition, with a vote of 30 to 4. C.A.R. is sponsoring SB1178 to extend anti-deficiency protections to homeowners who have refinanced “purchase money” loans and are … Continue reading

Posted in Active Rain | Tagged , | Leave a comment

Short Sale Legal Issues Affecting Real Estate Agents Part #3

ShareTweet   Here is Drew Sygit’s Series Part 3 of Short Sale Legal Issues Affecting Real Estate Agents.   Via Drew Sygit (The Lending Edge) Real Estate Financing Expert (The Lending Edge): Short Sale Legal Issues Affecting Real Estate Agents … Continue reading

Posted in Active Rain | Tagged , , | Leave a comment

Short Sale Legal Issues Affecting Real Estate Agents Part #2

ShareTweet   This is the 2nd Part on the Series of legal issues affecing Short Sales by Drew Sygit.   Via Drew Sygit (The Lending Edge) Real Estate Financing Expert (The Lending Edge): Short Sale Legal Issues Affecting Real Estate … Continue reading

Posted in Active Rain | Tagged , , | Leave a comment

Short Sale Legal Issues Affecting Real Estate Agents – Part #1

ShareTweet Drew Sygit has written one of the most comprehensive posts on Short Sales and legal issues that may affect Realtors. I think many Realtors who do Short Sales need to understand the complexities about them. This is one in  … Continue reading

Posted in Active Rain | Tagged , , | Leave a comment

No More State Tax on Forgiven Debt-This is Fantastic News!

ShareTweet No More State Tax on Forgiven Debt Distressed homeowners no longer have to pay California State income tax on debt forgiven in a short sale, foreclosure, or loan modification. Enacted into law yesterday, Senate Bill 401 generally aligns CA’s … Continue reading

Posted in Active Rain | Tagged , | Leave a comment

Why Don’t We All Just Walk Away?

ShareTweet When economists aren’t predicting the future, they spend a good deal of time studying behavior. For instance, they’ve been studying why individual borrowers don’t walk away as frequently from their homes as corporate borrowers walk away from their properties. … Continue reading

Posted in Active Rain | Tagged , | Leave a comment