The debt will most likely be considered as a marital debt if the house is a marital asset. A deficiency judgment is a marital debt if it develops from the short sale of a marital residence before going to a divorce. Only one party will going to own the house as soon as the divorce [...]

Get all your questions answered. Starting the month of March, Angel Lynn will be hosting homeowner awareness classes in Sacramento. Learn about how to avoid Foreclosure, what is Short Sale and how you can modify your loan. Classes will be held at 1913 Capitol Ave. Suite C, Sacramento. Come get your questions answered about what is going on in the market. What to expect and how to protect your family. Please call our office to reserve your seat. 916 443-1445.

Short sales appear on your credit report as “pre-foreclosure in redemption”, sometimes it will show “settlement paid infull”, not as “debt discharged due to foreclosure”

Legal implications of a short sale. Short sales allow a homeowner to close on the sale of property worth less than the debts secured by it. Typically, the lender agrees to accept the net proceeds from a closing in exchange for releasing its lien. Lenders are not agreeing to a short sale to be generous, [...]