Well, for those of you who follow us regularly, you are already aware, as of July 16, that a bill made it through the California legislature terminating lenders' ability to agree to short sales and still come after you for a deficiency judgment afterwards. Well, it's now official! Governor Brown signed it into law yesterday. If you're considering a short sale, check with your attorney as to how this new law applies to you. If you can't afford an attorney, call Legal Aid. But, under the bill, the sale price agreed to in the short is it--no more bank payments after the sale is done!
As always, Good Luck.
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