bay area short sales | Bay Area Short Sale Angels | Monclair | Piedmont

Using Bankruptcy To Put Off A Trustee Sale Date

Hi, this is Kerri from the Bay Area Short Sale Angels, the :k1:'s number one short sale team. A lot of people have asked us recently about using bankruptcy as a way to put off a trustee sale date as well as to live in their home for the maximum amount of time mortgage free. People all over the internet are making claims that this actually works, however these claims are extremely exaggerated. Bankruptcy can put off the trustee sale date right before your home is supposed to be foreclosed on, and that's because it puts everything on hold. It does cost you money, however, because you have to pay an attorney to file the bankruptcy. The fees will vary depending on your attorney and the services they charge you for. I'm warning you now, though, be careful and do not hire a paralegal or use any other scam that you may see…

Exciting News in the Short Sale Industry now that SB 458 is here!

Hi this is Kerri from the Bay Area Short Sale Angels. We are :k1:'s number one short sale team. This week something very exciting happened in the short sale world. Jerry Brown signed into effect a new law SB 458. SB 931 made sure that there were no deficiency judgments allowed on any first lien. Now SB 458 makes sure that there will not be any deficiencies allowed on any second lien or any junior lien that decides to participate in a short sale. So what does that mean for you and the rest of the world? That means that on a second or junior lien that might have been a recourse loan, once that lender decides to accept the short sale, it's done. By whatever terms that might mean; they might still ask for a promissory note, or they might still ask for a cash contribution to close, but after it's done,…