Archive for the ‘Everyone’ Category

Thursday, November 18th, 2010 at 6:01am

California Short Sale Anti-deficiency Law – Will Other States Follow?

What starts in California often spreads east across the country. Will that be the case for California’s new short sale anti-deficiency law? On August 19, 2010, the California Legislature approved Senate Bill 931 (SB 931) which added Section 580e to the Code of Civil Procedure (CCP §580e). It expands existing anti-deficiency laws regarding loans secured […]

Tuesday, October 12th, 2010 at 4:56am

Becoming Liable for the Impossible: FMV Certifications in Short Sales

Are sellers, brokers and buyers in a short sale transaction being set up by the big banks? Most lenders routinely require that the seller, listing agent and often the buyer and their agent sign some kind of certification, representation, or declaration/affidavit that the short transaction is being conducted at “fair market value” (FMV) or “market value” […]

Tuesday, October 5th, 2010 at 9:38am

Short Sales Negotiations – A Navigable Quagmire of Agency, Duty and Compensation

Posted by Ron Ballard in Everyone

Until two or three years ago, short sales “negotiation” was the purview of a small niche of real estate agents, attorneys and investors. Depending upon the particular market, real estate agents advise me that anywhere from 30–50% of the properties on the market (which includes properties which are not on the MLS) at any given […]

Wednesday, September 29th, 2010 at 5:00am

Freddie Mac: Fighting “fraud” or “crying wolf”?

Posted by Ron Ballard in Everyone

Here we go again. Freddie Mac is out lumping legitimate resale transactions in with the fraudulent ones in order to deflect accountability for its massive loan losses due to buying loans it had to know were bogus. I’m tired of exposing their fallacies and lack of effective reasoning, but apparently they aren’t tired of exposing themself. Maybe […]

Tuesday, September 21st, 2010 at 6:22am

Flip, Flop or Hold – A Tale of Three Myths

There’s a lot of discussion and warnings in residential real estate circles regarding various forms of “short sale fraud.” Unfortunately, too much of it neglects realistic market analysis and results in labeling legitimate business practices as “fraud.” Usual disclaimer:  this is a lengthy post because it provides in-depth analysis of complex issues. It’s not just […]

Wednesday, August 25th, 2010 at 12:56pm

August Webinar Comments?

Posted by Ron Ballard in Everyone

Did you watch the webinar today, August 25? Was it too deep? Was it helpful? Do you have differing views? I appreciate hearing from you below. This is about reasonable discussion. Disagreement can sharpen minds.

Wednesday, July 28th, 2010 at 12:38pm

July Webinar Comments?

Posted by Ron Ballard in Everyone

Did you watch the webinar today, July 28? Was it too deep? Was it helpful? Do you want to see more like that? I appreciate hearing from you below.

Tuesday, July 27th, 2010 at 3:47am

Wed. 7/28 Webinar: Understanding Fraud in Short Sales

This topic might not sound sexy, but if an orange jump suit doesn’t flatter your figure, then you will want to be sure to make this webinar. 

Monday, July 19th, 2010 at 4:04pm

Wells Fargo Claims Agents Owe It Fiduciary Duty

Obviously, I receive bank documents for review from clients involved in short sales. Wells Fargo Bank Home Mortgage (WFB) has revised important documents. Since at least the fourth quarter of 2009 WFB has provided a “Short Sale Listing Addendum” and a “Purchase Contract Addendum” to be executed in the traditional short sale process. (I don’t […]

Tuesday, May 4th, 2010 at 11:49pm

Stand With Freddie Mac Against “Strategic Defaults”

Freddie Mac has received a lot of attention lately from short sale investors. Today I write to endorse their position on “strategic defaults” dated May 3, 2010. Freddie’s Executive Vice President Don Bisenius offered “A Perspective on Strategic Defaults” that I commend to every serious investor’s reading at Bisenius cogently discusses this disturbing trend […]

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