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New Short Sale Law

 Gov. Jerry Brown signed SB 458 (Corbett) into law. So now, any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans. Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale... Read More

L.A. Blames Bank for Foreclosure Blight

LOS ANGELES—The city attorney of Los Angeles filed a civil complaint Wednesday against Deutsche Bank AG, alleging it allowed hundreds of foreclosed residential properties to fall into such disrepair as to become public nuisances. The lawsuit in state court here also alleged that the bank was involved in illegally evicting hundreds of tenants who were... Read More