Search San Diego County Foreclosures & Short Sales The falling home values have made some homeowners accidental landlords. Harvard’s Joint Center for housing studies reports that the number of homeowners renting out their homes has soared to all time highs. Many are hoping the market will return in the next 24 months so that they… Read More
Bank Foreclosure In San Diego
September 27, 2011 By Leave a Comment
A Fed Official John Walsh, of the Comptroller of the Currency, said 14 major banks will be reaching out to borrowers who may have been wrongly foreclosed upon and are fixing their foreclosure protocols over the next year. 4.5 million foreclosures from 2009 and 2010 are being looked at by independent consultant. In this process… Read More
California SB458 Law Short Sale Deficiencies Expanded
July 16, 2011 By 2 Comments
July 15th 2011 Senate Bill 458 was signed into effect by Governor Brown, prohibiting a deficiency after a short sale for primary residences of 1-4 units, regardless of whether the lender is in 1st, or 2nd and possibly even 3rd position. Lien holders can no longer require a borrower to owe or pay for a… Read More
PMI Private Mortgage Insurance Can They Pursue A Deficiency Judgment In California?
May 31, 2011 By Leave a Comment
Search San Diego County Foreclosures & Short Sales PMI would have been required by your lender if you purchased for less than 20% down and did not do a 2nd “purchase money mortgage” such as a 2nd fixed mortgage or home equity line of credit. The purpose of PMI is to indemnify the first mortgage lien… Read More
Will My Mortgage Company Sue Me For A Deficiency Judgement After Foreclosure
May 27, 2011 By Leave a Comment
Search San Diego County Foreclosures & Short Sales If when you purchased your home you never refinanced you are protected under California’s anti deficiency protection because your loan is non-recourse. If you acquired a 2nd mortgage or a home equity line of credit HELOC simultaneous to when you took out the 1st mortgage it is… Read More
Does SB 931 Stop Deficiency Judgments on Short Sales in San Diego California?
May 26, 2011 By Leave a Comment
It is very simple to get a release of liability on a first lien. This includes investment properties, vacation homes, and even recourse loans such as cash out refinances. However with the passing of a new anti-deficiency law SB 931 it is now guaranteed. For all short sale closing dates beyond January 1st 2011, any… Read More
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