We created this chart to help our clients quickly determine whether they need to worry about a deficiency judgment in California for a foreclosure or short sale. However, be sure to check with your attorney for specifics on your approval letter and personal liability. These are simply "rules of t
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09/01/2010
Yes. All signs point to continued downward pressure on pricing. Demand - Demand should increase this fall. The slip in demand we have been experiencing this summer is the result of both a seasonal decline (less buyers in the summer) and buyers that were pulled into the winter/spring market to qua
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08/31/2010
According to CNN Money this week, after reviewing the numbers from a federal report last week, the president's foreclosure program is losing its punch as the number redefaults after loan modifications continues to climb. The latest report showed that nearly 20% of homeowners were at least two mon
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08/26/2010
Mortgage rates reached new lows yet again this week with the 30-year fixed at 4.42 percent, down from last week's 4.44 percent. The refinance share of mortgage activity increased to 81.4 percent of total applications from 78.1 percent the previous week, which is the highest refinance share observ
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08/21/2010
Last month, MacroMarkets assembled a distinguished panel of over 100 economists, investment strategists, and housing market analysts who are surveyed every month regarding their 5-year expectations for future home prices in the United States. The average results for the next 5 years were as follo
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08/16/2010
Our in-house negotation team within Seven Gables Real Estate, Tri Stone, provides our valued clients with an easy to understand summary of the alternatives to foreclosure. If you are considering a short sale vs. foreclosures, it's time to call the professional team who provides a free consultatio
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08/13/2010
From CAR this afternoon: Anti-deficiency bill passes Assembly Judiciary CommitteeThe Assembly Judiciary Committee passed SB 1178 (Corbett) yesterday with a bipartisan vote of 7-1. The bill, which will extend anti-deficiency protections to homeowners who have refinanced "purchase money" loans and
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06/30/2010
Of all the ridiculous, easy decisions NOT to make, this one is beyond reasonable explanation. The effort to extend the June 30 closing deadline for the $8000 tax credit for buyers with executed contracts by April 30 appears unlikely to succeed. Short sales and FHA loans are particularly problemat
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06/29/2010
The Senate may vote again this week on SB 1178 (Corbett) to extend anti-deficiency protections to homeowners who refinanced and now are facing foreclosure. The bill was up before the Senate last Friday and fell two votes short of passage. The bill was then granted "reconsideration," allowing it t
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06/02/2010
When facing foreclosure or short sale, the anti-deficiency law is an important safeguard, but also one with serious limitations. Under current law, if a homeowner defaults on a mortgage that was used to purchase their primary residence (purchase money mortgage), the homeowner's liability is limit
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05/20/2010