Sacramento Report
January 18, 2011
New Short Sale Law
Senate Bill 931 was intended to give homeowners the same anti-deficiency protections as borrowers losing their home in a foreclosure. The law provides that lender's consent to a short sale results in a full discharge of the remaining indebtedness. Questions have been raised as to the new law's impact on short sales of non-owner occupied properties since the law is not limited to residences.
