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Luana Tedesco-Dunbar
Realtor
Vacaville California Real Estate
SHORTS SALES
Probate
C.P.R.E.S
(Certified Probate Real Estate Specialist)
Solano, Napa, Yolo, Sacramento County
Short sales. Short sales. Short sales
Bank owned/Reo's
Residential/Country Properties
If you are considering a Short Sale on your home, call for a confidential consultation.
Over 85% of my business comes from referrals of past clients. I am a local, full time Realtor for Vacaville CA Real Estate and Solano County CA. Travis AFB, Napa and Yolo counties, Dixon, Fairfield, Benicia, Vallejo, Green Valley.
Surf the MLS at the top of my page
You need the knowledge of the local real estate market. I can help you with your unique needs and protect your best interests through every aspect of a real estate transaction. I am focused on providing you with the most personal attention and best service available. Member of the Board of Realtors, Realtor.Com/Showcase properties and have access to four MLS providers.
You need the advice of a Vacaville CA Real Estate Professional.
The Internet is a great place to find information about Vacaville CA real Estate, Fairfield CA Real Estate. But it can't provide the in depth local knowledge and personalized service of a local Vacaville California Real Estate professional. The challenges of the real estate industry are getting more complex every day. You need a professional that is on top of the market and is prepared to protect your interests and guide you throughout the process. As a local Vacaville California Real Estate expert I am constantly researching the market and analyzing home prices so I can serve you with the latest and most accurate information and local market conditions.
02/08/2013
SENATE BILL 931 California
Senate Bill 931 (SB 931) pertaining to California Short Sale Deficiencies was signed by the Governor on September 30th. Beginning January 1st, 2011 any first mortgages that accept a short sale will not be able to obtain a deficiency judgment against a seller after the completion of a short sale. If a lender provides written consent to a short sale on a first mortgage, they lender must accept the sales proceeds as full payment and discharge the remaining balance due on the loan. The new law will apply to all first mortgage loans secured by one to four residential units, including purchase money, hard money and refinanced loans. The new law does not prevent the lender from seeking damages for fraud or waste by the borrower.
The legislative counsel's summary of the bill follows:
"This bill would prohibit a deficiency judgment under a note secured by a first deed of trust or first mortgage for a dwelling of not more than 4 units in any case in which the (owner) sells the dwelling for less than the remaining amount of the indebtedness due at the time of sale with the written consent of the holder of the first deed of trust or first mortgage. The bill would provide that written consent of the holder of the first deed of trust or first mortgage to that sale shall obligate that holder to accept the sale proceeds as full payment and to fully discharge the remaining amount of the indebtedness on the first deed of trust or first mortgage. "
The new law only applies to mortgages in the first lien position. It is still very important for any borrowers with a second lien to get in writing that any future deficiency rights are waived. While many attorneys believe that if a second mortgage is purchase money, that the seller will be protected under the non-recourse laws, there has not been any definitive case law to reflect this.
Our team has been very successful in negotiating short sales with the majority of the banks out there and obtaining in writing that that the deficiency rights are waived. It is extremely important for you to have an experience team on your side. Please feel free to contact us with any questions and to review your situation.
CHECK OUT THE INTEREST RATES!!! Low interest rate and low prices are two things that you never see together. Finally! First time home buyers are able to afford to purchase. Your Mortgage payment can be less then your rent! We are still seeing multiple offers situations on most of the homes. We have a lack of inventory in Solano county like I have never seen before and It has been taking some patients to try to snag a home. We are having to get very aggressive with our offers.
Vacaville California Real Estate,Fairfield California Real Estate, Dixon CA Real Estate, Vallejo CA Real Estate, Benicia CA Real Estate
For most families, buying or selling a home is one of the biggest decisions you'll ever make. I'd be honored for the chance to help you. Please call me direct, Luana Dunbar at 707-290-5082 or e-mail me anytime at Ludunbar@aol.com.
Call Me!... Your local Vacaville California Real Estate Agent, Realtor, Luana Dunbar @ 707-290-5082 or e-mail me @ Ludunbar@aol.com
KAPPEL & KAPPEL REALTORS Inc. VACAVILLE CALIFORNIA REAL ESTATE EXPERTS.
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