Friday, July 29, 2011
This month, Gov. Jerry Brown signed SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to guarantee that any lender agreeing to a short sale is required to accept the approved short sale payment as payment in full of the outstanding balance of all loans.
Under previous law (SB 931 of 2010), a first mortgage holder could accept the agreed-upon short sale payment as full payment for the outstanding balance of the loan, but that rule didn’t apply to junior lien holders (second trust deeds). SB 458 extends the protections of SB 931 to junior liens. SB 458 contains an urgency clause making it effective upon signing. This should make sellers’ lives a little less stressful after undergoing the hardships that necessitated the short sale.
If you know of someone considering a short sale, give me a call- we’ve assembled a great team of short sale negotiating experts and can equip you with information to make the right decision for you.
Tuesday, July 12, 2011
Have you experienced a short sale or foreclosure in the past? Even though you may have fallen on some difficult times home ownership could be attainable sooner than you think. Separate the myths from the facts and learn what steps to take to qualify for homeownership once again. This is a no cost community service seminar to assist those who are interested in reentering the housing market after foreclosure or short sale.
Presented by: Linda Hall of Guild Mortgage Company, Karen Campbell and Lynn Kenton of Ventura Property Shoppe and Eric Olson of U.S. Settlement Group. Seminar will be held on Thursday, July 21st at 6:30pm at Guild Mortgage Company, 711 East Daily Drive #110, Camarillo. To reserve your seat call Lynn Kenton @ 805-901-5444 or Linda Hall @ 805-208-8951.