Short Sale News: Major Lenders Offering Perks on Short Sales

Thenation’s leading mortgage lenders are extending extras for short sale transactions employed as an alternative to foreclosure – both in the form of monetary incentives for borrowers and streamlined procedures for real estate agents.Wells Fargo says it has been making “enhanced financial relocation assistance offers” that can be as much as $10,000 or $20,000 to certain borrowers who choose to …

Short Sale News: California Law Offers Deficiency Protection to Short Sellers

A new California law bars junior lien holders from pursuing borrowers to collect outstanding loan balances after a short sale has been completed.Gov. Jerry Brown signed SB 458 into law on Friday. It requires all lenders that agree to a short sale to accept the approved sale price as payment in full of the outstanding balance of all first and …