Short Sale attorney, stop foreclosure, real estate attorney, short sales in San Diego. Orange County short sales
California dramatically changes Short Sale Law, in my opinion.
Senate Bill No. 931 is signed into Californial law by Govenor Schwarzeneger. This became California’s short sale law around the same time he vetoed a more expansive law. I think he did a great job.
And I think it will turn out to be great for homeowners who only have one loan on their on their residence. In my experience most short sales still seem to involve two loans. But as property values start to return to 1990s pricing, we are starting in some areas we are starting to see more owners who have only one loan. (This law will also prevent some strategic defaults, as myself an other foreclosure attorneys will have to advise fewer people that a foreclosure may be more air tight than their short sale approval letter.)