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San Diego Home Values Hit Seven-year High

Friday, July 18th, 2014

The median price for San Diego home sales and condominiums reached a near seven-year high in June, rising to $450,000, up 8 percent from June a year ago. But the pace is slowing as the number of San Diego foreclosures shrinks and interest rates tick upward, a combination that still bodes well for individual homeowners […]

No Short-Sale Deficiencies for First-Trust Deeds in California

Thursday, December 16th, 2010

  Have concerns about deficiency judgments when doing a short-sale in California? Put your mind at ease and read on… Starting January 1, 2011, a new California law will prohibit a seller’s first trust deed lender from obtaining a deficiency judgment against the seller after a short sale. Providing written consent to a short sale […]

No Short Sale Deficiencies

Sunday, October 17th, 2010

Starting January 1, 2011, a seller’s first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale. Providing written consent to a short sale shall obligate the first trust deed lender to accept the sales proceeds as full payment and discharge of the remaining amount owed on the loan. This […]

Avoiding Foreclosure: Your Options

Tuesday, July 20th, 2010

As your debts loom and your monthly mortgage falls behind, you might think that foreclosure is your only way out. Happily, that’s not the case for most homeowners. Depending upon your individual circumstances, you have plenty of other options, many of which are outlined below. Refinancing If you have enough equity in your home and […]

Short-Sales vs. Foreclosures

Monday, July 19th, 2010

Some homeowners who are behind on their mortgage simply pack their things and leave. As a result, lenders have no choice but to foreclose upon abandoned properties. Foreclosure, however it may occur, can be damaging to your credit and reputation.Instead, working with your bank or lender to approve a short sale will have much less […]

What is a Short-Sale?

Thursday, July 8th, 2010

If you need to sell your home and owe more to your lender than your home is worth, a short sale may be your best choice. In the past, it was rare for a bank or lender to accept a short sale. However, with the current downturn in our real estate market, banks and lenders […]

GSEs Release HAFA Guidelines

Tuesday, June 15th, 2010

Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac last week released guidelines for implementing the Treasury Dept.???s Home Affordable Foreclosure Alternatives Program (HAFA).?? The new guidelines apply to loans owned or guaranteed by the GSEs; servicers are required to implement the new policies no later than Aug. 1.?? While largely consistent with the HAFA […]

Home Affordable Foreclosure Alternatives (HAFA) – Frequently Asked Questions (FAQ)

Tuesday, April 27th, 2010

What is HAFA??? HAFA is a government-subsidized Home Affordable Foreclosure Alternatives program for distressed homeowners to sell their homes to avoid foreclosure, even if the sales price is not enough to pay off their existing mortgage loans. Under HAFA, a participating lender will pre-approve the terms of a short sale and give the borrower at […]

California Debt Relief – Last Minute Changes

Wednesday, April 21st, 2010

Brian Yui talks to San Diego???s Fox 6 News about the fantastic California state legislation that just passed last week that aligns California???s tax laws with that of the federal government???s with respect to debt relief for short-sellers.?? If you are a home owner in need of selling your home short, California will no longer […]

Undisclosed Short-Sale Payments may be Illegal

Monday, April 19th, 2010

Undisclosed payments in short sale transactions, especially those paid outside of escrow, may violate the law, including RESPA, laws against loan fraud, and licensing laws.?? Short sale agents have increasingly reported to C.A.R. about requests for agents and their clients to pay junior lienholders and others, oftentimes outside of escrow. ?? One common scenario is […]

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