My New Blog

January 21st, 2011 9:15 AM
SB 931 was passed in the CA State Senate on 8-23-2010 and signed by the Governor on 9-30-2010. It went into effect on 1-1-2011. Much was made of the bill when it was passed, but it seems that it has become somewhat of a forgotten item since some time has passed until it took effect. Make no mistake about it, THIS NEW LAW IS A GAME CHANGER. Did you realize that this new law extends anti deficiency protection, that is the lender cannot pursue the short sale seller for collection of the shortage amount, to ALL FIRST TRUST DEED LOANS, EVEN REFINANCE LOANS. Did you realize that this law extends anti deficiency protection to ALL SHORT SALE SELLERS, EVEN ON THEIR INVESTMENT PROPERTIES. This is huge. This opens the door for many more short sale opportunities to each and ever one of you. Sellers who previously thought they could not avoid their lender pursuing them for their shortage can now short sale without recourse from the first Trust Deed lender. Please note that this protection does NOT apply to second Trust Deed lenders. Please let me know if you would like some more information!
Posted by Joy Thacker on January 21st, 2011 9:15 AMPost a Comment (0)

Subscribe to this blog
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Brayer Properties 125 Baker Street #263 Costa Mesa, CA 92626
Toll Free Phone: Cell:

Featured Listings | Home Buyer Checklist | For Buyers | News | Press Release | Selling Your Home | My Featured Homes | Home | Your Dream Home | How to Sell Your Home | My Blog | Foreclosure Listings

Copyright © 2012 Brayer Properties
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: