Archive for the ‘Uncategorized’ Category

New Law Protects Homeowners from Liability to the 1st Lienholder After a Short Sale – SB 931

Wednesday, February 9th, 2011

SB931

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THE SOLE REMEDY FOR A LENDER’S VIOLATION OF CIVIL CODE §2923.5 (FAILURE TO EXPLORE FORECLOSURE ALTERNATIVES) IS POSTPONEMENT OF THE FORECLOSURE SALE

Tuesday, August 17th, 2010

The only remedy available to a homeowner for the lender’s violation of its statutory obligation to explore options to prevent foreclosure, is postponement of the impending foreclosure sale.  However, if the foreclosure sale has already occurred, the lender’s noncompliance does not affect the validity of the foreclosure sale.  Mabry v. Superior Court (2010) 185 CA4th 208. (more…)