The deficiency law aids seller to disallow the lenders to
require the seller to contribute any monies to the lender other than the proceeds to the lender. This was signed into law back in July 15, 2011.
Monday, October 17, 2011
Deficiency Law Aids Sellers
Free Bank Owned Repo list at gkucer@topproducer.com Short sale laws have changed in favor of sellers. As a result of SB458, any lender who agrees to a short sale cannot hold responsible the borrower to owe or pay back or even take any action to collect the deficiency amount. This is a great success for our short sale process.
The deficiency law aids seller to disallow the lenders to
require the seller to contribute any monies to the lender other than the proceeds to the lender. This was signed into law back in July 15, 2011.
The deficiency law aids seller to disallow the lenders to
require the seller to contribute any monies to the lender other than the proceeds to the lender. This was signed into law back in July 15, 2011.
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