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 by dwellings of Read the rest of this entry »
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” or “based on Read the rest of this entry »
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 time may be Read the rest of this entry »
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 they are getting Read the rest of this entry »
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 repetition of brief Read the rest of this entry »
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.
You asked Read the rest of this entry »
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.
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.
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 know if this Read the rest of this entry »
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