Just when I thought a client of mine was going to be granted a principle reduction through the DOJ $27B settlement, the rug got pulled from under them.They were initially told they were awarded the…Continue
I keep hearing several agents saying, "this is the END of short sales..." after the (2) big game changers: 1.) Robosigning settlement and 2.) Homeowners Bill of Rights.Here's my take: until the…Continue
In a separate thread, I mentioned that Bank of America thought that LRC was doing such a lousy job, they decided to give them MORE short sales! *sarcasm…Continue
Just had a HAFA and traditional sale assigned to LRC (Loan Resolution Corporation). In the past, only Co-op and HAFA short sales would get assigned to third parties. Companies such as LRC, UTLS, etc…Continue
If you’ve found this blog just by searching on the internet, there’s a good chance you’ve read the advantages a Short Sale can have over simply “walking” from the property and letting your lender foreclose.
In case you haven’t heard the reasons, let’s list some of them:
1. No Deficiency – if you have a “recourse” loan in California, you can be subject to further collections and a deficiency judgment after foreclosure. On the other hand, California Civil Code…Continue