Law Protects CA Home owners Completing Short Sales from Judgements from 2nd lien Holders
If you were hesitant to start 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...
Big Banks Pay Incentives To Homeowners That Make Mortgage Payments On Time…Short Sales ?
Last week confirmed home ownership is declining. Several factors are causing many Americans to take a look at renting. I can now understand, but do not agree with banks PAYING their customers incentives to make their mortgage payments! Check this out.......
Senate Bill 458 Passes…No Deficiency Judgements for Home owners Completing Short Sales
This is HUGE! Effective today, 15 July 2011! Yes, Governor Jerry Brown signed into law SB 458 prohibiting banks, servicers and lenders from pursuing home owners of 1-4 units who choose to short sell their homes. A law was passed last year, 580E, that...
MARs No More! FTC Says Licensed Agents and Brokers Don't have to Abide by Confusing Regulations
This is surprising. 1 year after Dodd-Frank bill was passed...we're already seeing back lash. The confusing and tedious disclosure required by the Federal Trade Commission for any parties offering Real Estate Short Sale guidance is going away. It was confusing to say...
Banks, Servicing Companies, Short Sale or Foreclosure…Some get it…Some DON'T
Just a quick vent session and I will get back to the wacky world of Short Sales! I'm not a genius, but as I listen to CNN discussing the bank crisis.....I have to ask myself this question: Who are these people that are making the call at our lenders to foreclose...
Foreclosures drop in California….State bill 1137 working….this month.???
Foreclosure notices fell nearly 90% in California with the implementation of state bill 1137 on September 8th. I found a great chart that shows the huge decline in Notice of Defaults and Trustee Sales here in the state of Ca. Here’s the staggering fact! We went from...
Bank of America's new Short Sale Criteria sends California Homes to Foreclosure!
Kris and I live in the "Inland Empire"; one of the hardest hit areas of the country. Being Real Estate Agents, our decision to become Short Sale experts was an easy one. Our lives are touched daily with calls from people that are loosing their homes. Using everything...
Short Sale or Twilight Zone Episode? Bank of America only knows…
I was really hoping that I had a nightmare last night, but after opening my emails this morning….It really happened! Yesterday was a perplexing day in our world of Short Sales. The call we received from a family in the midst of a Chapter 7 Bankruptcy was not uncommon....
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Choosing A Real Estate Agent, Once You Decide To Short Sale Your Home…
If you have made the decision to do a short sale, there is another tough decision to make. Representation. Who are you going to use to represent you in the sale of the home, negotiate, and do whatever it takes to close the sale (within legal parameters, of course). In...
Great incentive for buyers-tax credit works like interest-free loan
If your a buyer and have been waiting for the right time this little gem might be the reason to sign on the dotted line! By Kenneth R. Harney, Washington Post Writers Group - L.A. Times WASHINGTON -- Anyone who's been sitting on the sidelines hesitant to jump into the...
Housing Act of 2008…A Very Brief Description
For those who don’t have enough time to muddle through the recent Housing Act
The new and improved…Countrywide Short Sale process…Please!
After being transferred more than 9 times to the same 3 departments, finally someone who seems to be able to answer my questions! I must say, I was jumping out of my seat with joy when the fellow at the other end of the line Countrywide guy told me that Countrywide...
Short Sale Myths….Fact or Fiction? #4
Here's a question that is asked at least one time a day, and with good cause: Q:How do you get paid? (the real estate agent) A: The bank (your lender) will pay commissions along with all the other usual closing costs. That's important for you to know. When your in...