The 20% solution: personal savings rates and homeownership
How today’s low savings rates impact California’s real estate market.
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Tag: anti-deficiency
California’s low homeownership rate to continue
California’s homeownership rate ballooned during the Millennium Boom, but quickly fell to today’s low level of 55%.
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May a mortgage holder recover the amount owed on a junior mortgage after a nonjudicial foreclosure when they are also the holder of the senior mortgage?
Black Sky Capital, LLC v. Cobb Facts: A property owner obtains two mortgages secured by the same...
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Can a mortgage holder enforce a homeowner’s waiver of their anti-deficiency protections on a short sale?
Coker v. JP Morgan Chase Bank, N.A. Facts: A homeowner defaults on their purchase-assist mortgage...
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Escrowing a note and trust deed assignment
Part II of this article series discusses the escrowing the assignment of a trust deed note. For...
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May a junior mortgage holder collect on a deficiency after a bankruptcy court sanctioned the foreclosure sale?
An investor purchases an income property encumbered by multiple mortgages, then files for bankruptcy.
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May a lender impose a lien on an owner’s future recovery awarded after a foreclosure on the owner’s property results in a deficiency?
A landowner purchased a parcel of land and improved it with infrastructure for future development.
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If I convert my home to a rental, does my mortgage become a recourse loan?
A look at the triggers which convert nonrecourse to recourse debt.
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May a creditor claim fraud to collect unsecured, nonrecourse debt from a buyer?
Facts: A buyer employed a mortgage broker to obtain funds to purchase a single family residence to...
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Is a carryback note modified by a settlement agreement still controlled by anti-deficiency law?
A buyer sought to avoid a seller’s demand, claiming the seller was prohibited from seeking a deficiency judgment since the buyer was protected under state anti-deficiency law.
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May a lender obtain a deficiency judgment against an owner on a short sale?
An owner purchased property with a loan secured by a deed of trust held by the lender. Later, the owner defaulted and the lender recorded a notice of default…
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Assignee barred from collecting on junior lien default after non-judicial foreclosure sale
Facts: A lender provided purchase-assist financing to a borrower secured by a first and second...
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The votes are in: extend the Mortgage Forgiveness Debt Relief Act
Readers weigh in on topics affecting the California real estate industry.
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Tax avoidance for discounted shortpays set to expire – are Californians in trouble?
Do you support renewing the Mortgage Forgiveness Debt Relief Act? Yes (80%, 207 Votes) No (20%, 52...
Read MoreYou’re sure you’re a shortsale specialist?
Part II of this article series examines the pedigree of a true “short sale specialist” and highlights the many tedious aspects of qualifying a negative-equity homeowner for a short payoff with his mortgage lender.
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