CHASE FHA deficiency issue - Short Sale Superstars2024-03-29T13:40:06Zhttps://shortsalesuperstars.com/forum/topics/chase-fha-deficiency-issue?commentId=3468065%3AComment%3A218466&feed=yes&xn_auth=noHi There! I just emailed Arik…tag:shortsalesuperstars.com,2013-10-07:3468065:Comment:3346942013-10-07T19:11:07.034ZPaola Martinsenhttps://shortsalesuperstars.com/profile/PaolaM
<p>Hi There! I just emailed Arik Moreno and the emails bounced back. What email address did you use?</p>
<p>Hi There! I just emailed Arik Moreno and the emails bounced back. What email address did you use?</p> I got this information from a…tag:shortsalesuperstars.com,2012-08-19:3468065:Comment:2600732012-08-19T19:14:05.748ZKathy Dyer Realtor Rosevillle Cahttps://shortsalesuperstars.com/profile/KathyDyerRealtorRosevillleCa
<p>I got this information from an Attorney here in Ca.</p>
<p>There have been court cases which VA and FHA can over turn any state anti-deficiency laws.</p>
<p>Here is info I received from the attorney.</p>
<p><span>"California has laws that regulate whether a lender would have recourse against a borrower if they were not paid in full. The most well known of these concern foreclosure. Code of Civil Procedure (CCP) Sec 580b bars recourse on purchase money loans for personal residence and CCP…</span></p>
<p>I got this information from an Attorney here in Ca.</p>
<p>There have been court cases which VA and FHA can over turn any state anti-deficiency laws.</p>
<p>Here is info I received from the attorney.</p>
<p><span>"California has laws that regulate whether a lender would have recourse against a borrower if they were not paid in full. The most well known of these concern foreclosure. Code of Civil Procedure (CCP) Sec 580b bars recourse on purchase money loans for personal residence and CCP 580d bars recourse after a Trustee Sale foreclosure. On July 15, 2011, California passed SB458 which became CCP 580e and which bars recourse after a short sale of a 1-4 unit dwelling. But the question has come up whether there can still be any recourse despite these laws. </span><strong>The answer is yes</strong><span> although actual use may be rare. </span>See link for more info: <a rel="nofollow" href="http://stevebeede.com/?s=fha" target="_blank">IS THERE STILL SOME RECOURSE AFTER SHORT SALE AFTER SB 458?</a></p>
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<p>Kathy Dyer</p>
<p>916-759-2147</p> Thanks Bryant!!! This forum r…tag:shortsalesuperstars.com,2012-03-11:3468065:Comment:2188712012-03-11T17:29:53.205ZJoshua Gaymanhttps://shortsalesuperstars.com/profile/EquitySunrise
<p>Thanks Bryant!!! This forum rocks!!</p>
<p>Thanks Bryant!!! This forum rocks!!</p> Thanks Kevin!!! Looks like my…tag:shortsalesuperstars.com,2012-03-11:3468065:Comment:2186692012-03-11T17:29:37.774ZJoshua Gaymanhttps://shortsalesuperstars.com/profile/EquitySunrise
<p>Thanks Kevin!!! Looks like my job is done then :) - I had a feeling I was missing something.. :)</p>
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<p>Thanks Kevin!!! Looks like my job is done then :) - I had a feeling I was missing something.. :)</p>
<p></p> There is no deficiency to the…tag:shortsalesuperstars.com,2012-03-11:3468065:Comment:2188532012-03-11T12:25:15.230ZBryant Tutashttps://shortsalesuperstars.com/profile/bryanttutas
<p>There is no deficiency to the lender with an FHA PFS. The lender is made whole.</p>
<p>There is no deficiency to the lender with an FHA PFS. The lender is made whole.</p> The Pre-Foreclosure Sale (PFS…tag:shortsalesuperstars.com,2012-03-11:3468065:Comment:2185612012-03-11T04:12:57.576ZKevin - Greenville, SChttps://shortsalesuperstars.com/profile/KevinMWillson
<p>The Pre-Foreclosure Sale (PFS) option allows mortgagors in default (resulting from an adverse and unavoidable financial situation) to sell their home at FMV and use the sale proceeds to <em><strong><span style="text-decoration: underline;">satisfy the mortgage debt</span></strong></em> even if the proceeds are less than the amount owed.</p>
<p>The Pre-Foreclosure Sale (PFS) option allows mortgagors in default (resulting from an adverse and unavoidable financial situation) to sell their home at FMV and use the sale proceeds to <em><strong><span style="text-decoration: underline;">satisfy the mortgage debt</span></strong></em> even if the proceeds are less than the amount owed.</p> Take a look at Mortgagee Lett…tag:shortsalesuperstars.com,2012-03-09:3468065:Comment:2184662012-03-09T07:47:00.906ZKevin - Greenville, SChttps://shortsalesuperstars.com/profile/KevinMWillson
<p>Take a look at Mortgagee Letter 2008-43.</p>
<p>Take a look at Mortgagee Letter 2008-43.</p> Messaged.tag:shortsalesuperstars.com,2012-03-08:3468065:Comment:2182382012-03-08T20:52:32.152ZBrent Innocenzihttps://shortsalesuperstars.com/profile/BrentInnocenzi
<p>Messaged.</p>
<p>Messaged.</p>