Category: Courtside Newsletter

By: J Niswonger, Riverside County Office There is some good news for homeowners who have to sell their properties for less than they owe (known in the industry as short sales).  The California Legislature has passed Senate Bill 458, which mortgage holders from seeking to recover additional money from the seller after approving a short […]

According to statistics compiled by the California Association of REALTORS® (C.A.R.), short sales comprised 23 percent of all California home sales in February 2011; that number was 20 percent in March 2011 (see www.car.org/marketdata/data/distressedsales/). Because of the high percentage of short sales, almost every REALTOR® in California will participate in a short sale transaction at […]

Despite various reports that the economic crisis may be improving, many property owners face the continuing problem of owing thousands if not hundreds of thousands of dollars more than their properties are currently worth. Many of these owners have chosen to allow their properties to go into foreclosure rather than continue to pay on loans […]

This month we provide a brief overview of two recent acts which impact the real estate industry:  (1) the SAFE Act which must be complied with by January 1, 2011, and (2) HAFA which was recently enacted. THE SECURE AND FAIR ENFORCEMENT MORTGAGE LICENSING ACT OF 2008 The Secure and Fair Enforcement Mortgage Licensing Act […]