Short Sale in Orange County Good news for CA Homeowners: July 15th, 2011 Governor Jerry Brown signed SB 458 into California law which states that any lender agreeing to a short sale – which by definition will yield insufficient funds to cover the outstanding loans on a property – must accept it as payment in full for all loan balances. “SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lien holders—those in first position and in junior positions—will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property,” says CA Association of Realtors® President Beth L. Peerce. The bad news is… now junior lien holders (2nd, 3rd mortgage, HELOC, etc) now want more money for a lien release thus making the short sale more challenging and difficult negotiation than before. WHY CHOOSE US? The Association of Realtors recently conducted a statewide survey which reported that only 10% of all Short Sales actually close escrow! You won’t have that problem with the WSL Team. With over 300 successful Short Sale and Loan Modification transactions to our credit, you can be assured your case will be handled by experienced, well connected experts. Over the years, we have developed close working relationships with many lenders that will benefit you and help to conclude the transaction on the most favorable terms to you. Call us at 714.442.2659 or visit http://www.shortsale714.com/ to find out how we can help. ...read more