This article courtesy of real estate attorney Scout Souders. After Foreclosure Sale Trustee’s Deed Upon Sale Does Not Need To Be Recorded Prior To Serving Notice To Quit. In the case of Dr. Leevil, LLC vs. Westlake Healthcare Ctr.  9 Cal App 5th 450 the Appellate Court held that a notice to quit was not premature even though the new owner, who received title at a … [Read more...] about REAL ESTATE LAW UPATE: Trustee’s Sale
How long must I wait before obtaining financing after bankruptcy, foreclosure or short sale? This is a question asked more and more due to the financial changes and hardships that many have faced in recent years. I have provided the following chart to help answer those questions. (You can download a printable PDF copy here.) … [Read more...] about How Long Must I Wait?
$900,0000.00 Judgment Against Broker Dischargeable in Bankruptcy Despite the Salesperson Agent's Fraud Who Works for the Broker. In the case of Anil Sachan vs. Benjamin Huh (9 Cir. BAP) 2014 506 B.R.257, the 9th Circuit Bankruptcy Appellate Panel concluded that when a broker is not aware of his agent's fraud, a state court judgment against the broker is 9th Circuit Bankruptcy … [Read more...] about Real Estate Law Update: Judgment Against Broker Dischargeable in Bankruptcy
If your lender canceled or forgave your mortgage debt, you generally have to pay tax on that amount. But there are exceptions to this rule for some homeowners who had mortgage debt forgiven in 2012. The IRS has released some facts about mortgage debt forgiveness. Canceled debt normally results in taxable income, but you may be able to exclude the canceled debt from your income … [Read more...] about Lender Cancelled or Forgiven Mortgage Debt
For several years now homeowners who have filed bankruptcy, lost their home to foreclosure or sold their home in a "short sale" have asked, "when can I apply for a new mortgage?" Fannie Mae and Freddie Mac have published their rules on bankruptcies and foreclosures for years. However, though they have had a category called pre-foreclosure sales there has not until recently … [Read more...] about When Can I Apply For a New Mortgage? (after shortsale, foreclosure or bankruptcy) Fannie Mae-Freddie Mac Announce 2011 Waiting Periods