New Deficiency Protection For Sacramento Short Sales; SB 931 Protects All First Mortgages
[caption id="attachment_3848" align="aligncenter" width="600" caption="SB931, California may become SHORT SALE HEAVEN! "][/caption] Sacramento Short Sale Certified Specialist and Folsom Certified Short Sale Specialist reports: When Governor Schwarzenegger signed SB931 last October, California was set to become SHORT SALE HEAVEN! Short Sale and Foreclosure Deficiency in California may be a thing of the past! Sacramento's newest homeowner protection bill, SB 931 which goes into effect January 1 2011, stops Deficiency Judgments on short sales in California on ALL FIRST MORTGAGES no matter how are when they were originated! Just like the Great Depression, The Great Recession is forcing lawmakers to pass laws that protect homeowners. In California during the Great Depression, thousands were losing homes to foreclosure and lawmakers in Sacramento...
California’s Anti Deficiency Law For Short Sales Will Stop Banks From Recourse
[caption id="attachment_3829" align="aligncenter" width="300" caption="California's Newest Short Sale Anti Deficiency Law Goes Into Effect Jan 1, 2011"][/caption] Sacramento Short Sale Specialist and Certified Short Sale Negotiator Forth Hoyt reports on California's new short sale anti deficiency law for short sellers, and how it will change short sale recourse in California. How will it change Recource on California Short Sales? SB 931, recently enacted legislation governing “short sales,” goes into effect Jan 1, 2011, The Legislation applies to any note secured by a first deed of trust or first mortgage for a dwelling of not more than four units. SB931 protects Homeowners as well as Investors, as it is not...
SB931 Signed Into Law; California Homeowners Get Deficiency Protection After Short Sale!
SB 931 signed into law. New Civil Code Section 580e will stop deficiency judgments on short sales in California Deficiency for short sales in California are illegal on first mortgages! No Deficiency after short sale: Civil Code 580 non recourse second Sacramento Certified Short Sale Specialist and Expert Sacramento area Short Sale Negotiator Forth Hoyt Reports: New Government Foreclosure Prevention Program Eligibility- Which Programs Do You Qualify For? California Gov. Arnold Schwarzenegger signed senate bill SB931 into law Oct. 1. The new short sale law prohibits mortgage holders from pursuing deficiencies after a short sale has been accepted. The law covers all first mortgages, and applies whether or not the property has been refinanced. Before S.B. 931, many distressed homeowners who sold their homes for less...
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