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 [...]

Lose the House, but Not Your CreditBy Brian Dakss According to sources in the mortgage industry, people who agree to a short sale with the lender do far less damage to their credit rating than those who go through foreclosure. While in both cases, short sale and foreclosure, the delinquent mortgage will negatively affect their [...]

Obama’s administration came out with a new website for home owners struggling to make mortgage payments and facing foreclosure: MakingHomeAffordable.gov From the about page: The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical [...]

Does a Short Sale Mess Up Your Credit Score (FICO)? Yes. But much less than foreclosure. How much a short sale will mess up your credit will depend on how many payments you missed before we negotiate and close a short sale for you. If you contact us for a short sale before missing any [...]

Are you “underwater” on your house? Don’t feel bad! Most of us are overleveraged here in Sacramento – owing more on the home than what the home is worth. That’s why if you can’t afford your payments, selling the house “short” may be your only way out if you want to settle your mortgages, avoid [...]