The Long Short Sales
There are homeowners that, when faced with the prospect of a foreclosure, attempt to sell their home instead. If the home is underwater, as is the case in many areas in the US, especially in California, Nevada, Arizona and Florida, the proceeds from the sale will not be sufficient to pay off the loan and [...]
Change to Arizona Anti-Deficiency Statute Repealed
Many of you may know by now that Arizona governor Jan Brewer signed HB 2008 on September 4th 2009. HB 2008, among other things, repeals SB 1271 which called for adverse changes to Arizona’s anti-deficiency laws.
Thus Arizona’s anti-deficiency is as strong as it was before SB 1271.
We had a tele-seminar with an Arizona attorney regarding [...]
Short Sales and Deficiencies
Although I am not an attorney, I have been talking to attorneys and the message I get regarding short sales is always: Beware!
Many of us are using loss mitigation experts to assist us in attempting to short sell properties we wish to dispose of that are underwater.
There is a notion, which is mistaken, according to [...]
Fannie Mae to the Rescue?
In light of recent efforts by Fannie Mae which include re-opening the discussions of the 4-property limit for investor financing (see post: Kenneth Harney on Rethinking Controversial Limits), and the short-sale speed-up pilot in Orlando (see post: Jerry Jackson of the Orlando Sentinel on Fannie Mae Short Sale Pilot ), there may be some hope that [...]
Jerry Jackson of the Orlando Sentinel on Fannie Mae Short Sale Pilot
This was sent to me by Liam Gillen, one of our Orlando realtors. it’s an article in the Orlando Sentinel about Fannie Mae running a pilot to speed short sales processes considerably. This holds promise to everyone thinking of doing a short sale. if the pilot succeeds, hopefully the program will become widespread and cut [...]
