short sale | firsttuesday Journal

Form-of-the-Week: Equity Purchase Agreement and Equity Purchase Agreement with Short Sale Contingency – Forms 156 and 156-1

by Amy Perry | May 13, 2021 | Forms, Investment, Real Estate | 0

When an investor or dealer wants to purchase a residence in foreclosure, they use RPI Form 156 and 156-1 when it is a short sale.

Is Fannie Mae liable for money losses resulting from a false foreclosure report in its underwriting software?

by Oscar Alvarez | Apr 29, 2019 | Finance, Mortgages, Real Estate, Recent Case Decisions | 0

Zabriskie v. Federal National Mortgage Association Facts: A homeowner defaults on their mortgage...

May a credit reporting agency (CRA) be held liable for Fannie Mae’s incorrect classification of a short sale as a foreclosure?

by Oscar Alvarez | Jul 20, 2018 | Finance, Loan Products, Mortgages, Real Estate, Recent Case Decisions | 0

Shaw v. Experian Information Solutions, Inc. Facts: A distressed homeowner short sells their...

Mortgage debt discounts and no deficiency obligations for California homeowners

by Amy Thomas | May 9, 2016 | Buyers and Sellers, Feature Articles | 1

Distinguish between recourse and nonrecourse mortgage debt to determine the remedies available to homeowners and lenders in the event a homeowner defaults.

Client Q&A: What are a homeowner’s foreclosure alternatives?

by ft Editorial Staff | Apr 12, 2016 | Client Q&A Fliers, Marketing Flyers, Real Estate | 0

Use this first tuesday FARM Letter Info-Flyer with your existing clients to provide a clear,...

Can a mortgage holder enforce a homeowner’s waiver of their anti-deficiency protections on a short sale?

by ft Editorial Staff | Mar 28, 2016 | Real Estate, Recent Case Decisions | 0

Coker v. JP Morgan Chase Bank, N.A. Facts: A homeowner defaults on their purchase-assist mortgage...

The short sale purchase agreement – boilerplate agreement or as an addendum

by ft Editorial Staff | Nov 16, 2015 | Forms, Real Estate | 2

Form-of-the-week: Purchase Agreement with Short Sale Contingency – Form 150-1 and 274 Selecting...

California distressed sales, foreclosure inventory fall sharply

by Matthew Taylor | Apr 21, 2015 | Economics, Mortgages, Real Estate | 0

California REO resales, short sales and foreclosure inventory reach their lowest levels since 2009.

Home sales volume flat in February

by Carrie B. Reyes | Mar 19, 2015 | Home Sales, Real Estate | 0

The number of homes sold in California remained flat in February. How long will the slump continue?

It’s official: high LTV ratio increases foreclosure risk

by Carrie B. Reyes | Feb 13, 2015 | Mortgages, Real Estate | 1

Our foreclosure problem runs deep.

FHA updates pre-foreclosure sale and deeds-in-lieu requirements

by Matthew Taylor | Feb 10, 2015 | Finance, New Laws, Real Estate | 0

New short sale rules for sellers with FHA-insured mortgages.

Foreclosures are almost fully recovered

by Carrie B. Reyes | Jul 18, 2014 | Mortgages, Real Estate | 2

NODs were their lowest since 2005 last quarter.

Foreclosures, REO resales decline in Q1 2014

by Carrie B. Reyes | Apr 29, 2014 | Mortgages, Real Estate | 0

What do today’s NODs forecast for tomorrow’s foreclosure sales?

What California short sellers need to know before tax-time

by Carrie B. Reyes | Feb 6, 2014 | Mortgages, Real Estate | 1

Inform clients about the potential tax implications of their short sale in 2014.

NODs at their lowest in eight years

by Carrie B. Reyes | Jan 23, 2014 | Mortgages, Real Estate | 0

Foreclosures, NODs and REO resales were down in Q4 2013. But what’s in store?

Tax benefits set to expire

by Carrie B. Reyes | Nov 20, 2013 | Mortgages, Real Estate, Tax | 0

If you or your client plans on undergoing a short sale, paying mortgage insurance, or making energy efficient improvements in 2014, you may be in for a shock come next tax season.

FHA fast tracks Millennium Boom casualties into homeownership

by Nicole Jessen | Oct 11, 2013 | Feature Articles, Real Estate | 0

Homeowners negatively impacted by the Millennium Boom may gain access to FHA-backed financing earlier than anticipated. FHA-insured financing is a critical artery that funnels money to homebuyers, and by extension, California agents. More homebuyers with access to purchase-assist funds equal more fees for agents in the wake of the housing crisis.

May a lender obtain a deficiency judgment against an owner on a short sale?

by Matthew Shade | Aug 27, 2013 | Laws and Regulations, Real Estate, Recent Case Decisions | 0

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…

Can a carryback seller obtain a deficiency judgment against a buyer who defaults on carryback debt?

by Nicole Jessen | Jul 31, 2013 | Mortgages, Real Estate, Recent Case Decisions | 0

A buyer and seller entered into negotiations to purchase a home. The buyer obtained a first and second loan from a lender secured by two trust deeds on the property.