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July 2011 Archives

BofA Settlement or Snore?

“The goal is to reinstate as many borrowers in a modification that performs well,” said Tony Meola, a servicing executive with Bank of America. “It also is likely to lead to faster resolution in those unfortunate situations where foreclosure is inevitable. While not a desirable outcome, the recovery of the housing markets depends on moving through the foreclosure process as quickly and fairly as possible.”

In Recovery or Intensive Care?

The Allen Matkins/UCLA Anderson Forecast states that real estate “investors” are optimistic and buying up “class A” properties at above market value. The Orange County Register wonders is this is the beginning of a new real estate “bubble.”

Short Sales - no liability for second's ?

SB 458 - effective July 11, states no liability will inure to sellers of short sale 1-4 unit properties in California with respect to second position loans. (Recall that first position loans sold short lost recourse liability becasue of SB 931 in 2010).


Holmes v. Summer. The Listing Agent's doom.

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