If you’ve been thinking about doing a short sale on your home, you now have more motivation to get the ball rolling.  On December 31st, 2012 the Mortgage Forgiveness and Debt Relief Act is scheduled to expire. Congress passed the act in 2007 for the purpose of helping distressed home owners.  Before the act was [...]

In a major victory for REALTORS®, Governor Brown signed into law today a C.A.R.-sponsored bill, Senate Bill 458, prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lienholder. Effective immediately for transactions closing escrow from this day forward, both senior and junior lienholders [...]

In an effort to help homeowners who owe more on their homes than they’re currently worth, the government will initiate its “short refinance” program on Tuesday, September 7, 2010. According to an August 6 Mortgagee Letter released by HUD (click here to download the entire letter), the program will allow “borrowers who are current on [...]

Get Help With Your Bank Here is a resource that agents can use to find help for troubled short sale cases: HelpWithMyBank.gov is administered by the U.S. Department of the Treasury Office of the Comptroller of the Currency (my hands cramped just writing that!) … even if you can’t remember the name of who’s administering [...]