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Short Sale Update bank of america, countrywide - deficiency
October 28, 2008, 10:13 pm,
by John McConnin, Esq.
When dealing with Short Sales in California bank of america has been known for sending out vague short sale approval letters and attempting to keep the seller on the hook for deficiencies.Â
Countrywide was known be slow and frustrating, but, if they approved short...
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San Diego foreclosure timeline
October 25, 2008, 4:22 pm,
by John McConnin, Esq.
Faced with a decision about your home loan payments.
People who are in default and either thinking of walking away, or selling their homes sometimes wish to know about the foreclosure timeline.
The the first thing they should look for is the notice of acceleration....
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What's Going On With The Real Estate Market?
June 13, 2008, 1:18 pm,
by BAP admin
It seems like I am asked this and many other questions from both buyers and sellers on a daily basis. Are home prices going to continue their decline? Are interest rates skyrocketing back to 10%? Are lenders going to keep going under? What about foreclosures?There is no
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What's Going On With The Real Estate Market?
June 13, 2008, 1:18 pm,
by BAP admin
It seems like I am asked this and many other questions from both buyers and sellers on a daily basis. Are home prices going to continue their decline? Are interest rates skyrocketing back to 10%? Are lenders going to keep going under? What about foreclosures?There is no
Read more...
Comments (0)
What's Going On With The Real Estate Market?
June 13, 2008, 1:18 pm,
by BAP admin
It seems like I am asked this and many other questions from both buyers and sellers on a daily basis. Are home prices going to continue their decline? Are interest rates skyrocketing back to 10%? Are lenders going to keep going under? What about foreclosures?There is no
Read more...
Comments (0)
What's Going On With The Real Estate Market?
June 13, 2008, 1:18 pm,
by BAP admin
It seems like I am asked this and many other questions from both buyers and sellers on a daily basis. Are home prices going to continue their decline? Are interest rates skyrocketing back to 10%? Are lenders going to keep going under? What about foreclosures?There is no
Read more...
Comments (0)
What's Going On With The Real Estate Market?
June 13, 2008, 1:18 pm,
by BAP admin
It seems like I am asked this and many other questions from both buyers and sellers on a daily basis. Are home prices going to continue their decline? Are interest rates skyrocketing back to 10%? Are lenders going to keep going under? What about foreclosures?There is no
Read more...
Comments (0)
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Market Reports
Loan Modification - The legal Department of the California Association of Realtors
October 31, 2008, 1:06 am,
by John McConnin, Esq.
This bill give lawyers a reason to talk lenders into substantial loan modifications - not just the typical temporary payment adjustments.
Here is a critical piece of Senate Bill SB 1137 -
(b) High foreclosure rates have adversely affected property values
in...
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News and Events
Non recourse loans and california foreclosure law
October 21, 2008, 12:02 am,
by John McConnin, Esq.
California real estate law is complex. Short sale do not always lead to a betterresult than a foreclosure. CCP 580b is one of the reasons why. This law protects homeowners (residences) who have not refinanced their loans. Before you agree to a short sale, loan...
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California real estate law - taxation of recourse vs. non recourse loans
October 15, 2008, 12:32 am,
by John McConnin, Esq.
California Mortgage Debt forgivnes act is only granted until the end of 2008.
http://info.sen.ca.gov/cgi-bin/postquery?bill_number=sb_1055&sess=CUR&house=B&site=sen
If you have CCP 580b protections and you do a short sale, you may wish to make sure...
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