Mortgage deficiencies are experienced by some homeowners when they go through a short sale or foreclosure of their property. This refers to the difference between the amount that the house was sold for and what you owe the bank. In such cases like you owe your lender for a home that you no longer own, [...]

As stated by Freddie Mac last Thursday, the average interest rate on a 30-year fixed-rate mortgage fall down to 4.95% this week from 4.97% last week. Based on the mortgage giant’s weekly survey, lenders offer a rate of 20% down payment for borrowers with good credit and the upfront fees averaged 0.7% of the loan [...]

Senator Ducheny proposed the Senate Bill 931 which prohibits a deficiency judgment under a note secured by a first deed of trust where the trustor sells the dwelling for less than the remaining amount of indebtedness with the written consent of the first deed of trust holder. The written consent is considered to be an [...]