OWE MORE ON YOUR HOME THAN IT'S WORTH? GOOD NEWS!

If you owe more on your home than it's worth, I have some good news for you!  No Short Sale Deficiencies: 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 law applies to first trust deeds secured by one-to-four residential units, but does not limit the lender from seeking damages for fraud or waste by the borrower. Senate Bill 931. Governor Schwarzenegger vetoed Senate Bill 1178, our sponsored bill, which would have extended California's anti-deficiency protection to refinance loans.

If you owe more than your home home is worth and don't know what to do, call me, I can help!  You can also check out my Short Sale Website for answers to some common questions in today's market. 

As we near the Holiday season for 2010, please start thinking about ways to help some of our South Bay families in need this year.  Although we are blessed to have fewer foreclosures and homeless families than most areas in the county, we still have friends and neighbors in need.  If you have a request for your neighbor or friend, let me know.  We are starting to collect Holiday Gifts for kids and food bank supplies for families.  If you can contribute, please call and I will pick up.  If you or a friend or neighbor needs help please let us know.  We are here to support our community in any way we can!