Short Sales

Murrieta Real Estate News-New Law on Short Sales

by Monica Atherton July 26, 2011 Short Sales

RISMEDIA, July 26, 2011—(MCT)—Under a new state law, any lender who agrees 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. That is a good thing for upside-down homeowners who …

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