My New Blog

North Park Listing
February 16th, 2009 6:48 AM
Check out my listings page for the newest listing in San Diego.  A 2br 1 ba condo in Northpark for only $167,000.  MLS# 090001909   Call 619-507-1554 for more information.
Posted by Clay Gosnay on February 16th, 2009 6:48 AMPost a Comment (0)

Just Listed! 12256 Berea Court Poway, CA 92064
February 27th, 2009 10:26 AM
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Listings Photo
$1,225,000.00
12256 Berea Court

Poway, CA 92064

Beds: 5.0 Rooms: 0
Baths: 4.00 Sq. Ft.: 4118.00
Garage: 0 Built: 1999
 
This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 
If you have any questions
about this property or
require more information,
please feel free to call.

Clay Gosnay
REALTY EXECUTIVES ADVANTAGE
8585301100ext130
www.listedvalue.com
 
  Visit this listing at Here
Posted by Clay Gosnay on February 27th, 2009 10:26 AMPost a Comment (0)

Just Listed! 11766 Creek Bluff Poway, CA 92064
February 27th, 2009 10:25 AM
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Listings Photo
$1,325,000.00
11766 Creek Bluff

Poway, CA 92064

Beds: 5.0 Rooms: 0
Baths: 4.00 Sq. Ft.: 3872.00
Garage: 0 Built: 0
 
This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 
If you have any questions
about this property or
require more information,
please feel free to call.

Clay Gosnay
REALTY EXECUTIVES ADVANTAGE
8585301100ext130
www.listedvalue.com
 
  Visit this listing at Here
Posted by Clay Gosnay on February 27th, 2009 10:25 AMPost a Comment (0)

Just Listed! 4041 Louisiana #9 San Diego, CA 92104
February 26th, 2009 8:55 AM
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Listings Photo
$167,000.00
4041 Louisiana #9

San Diego, CA 92104

Beds: 0 Rooms: 0
Baths: 0 Sq. Ft.: 770.00
Garage: 0 Built: 1968
 
This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 
If you have any questions
about this property or
require more information,
please feel free to call.

Clay Gosnay
REALTY EXECUTIVES ADVANTAGE
8585301100ext130
www.listedvalue.com
 
  Visit this listing at Here
Posted by Clay Gosnay on February 26th, 2009 8:55 AMPost a Comment (0)

San Diego Home Finance! No appraisal necessary
February 18th, 2009 2:46 PM
I just became aware of a California Bank that is refinancing current clients in good standing without requiring a new appraisal.  The former is almost un heard of.  For those of you who may be upside down on their properties and desperate to refinance call me at 619-507-1554 for more information on this loan program.
Posted by Clay Gosnay on February 18th, 2009 2:46 PMPost a Comment (0)

Short Sales In California Not Protected From Deficiency Judgements!
February 17th, 2009 4:00 AM
Homeowners ordinarily cannot be liable for a deficiency judgment, due to two statutes: Code of Civil Procedure 580b and Code of Civil Procedure 580d. CCP 580b provides that no deficiency judgments can be obtained after foreclosure sales on purchase money loans secured against residential property with one to four units. CCP 580d provides that no deficiency judgment can be obtained in any non-judicial foreclosure. Taken together, these two statutes make deficiency judgments unobtainable in virtually all foreclosures against homeowners.


But neither of these statutes applies to a short sale situation. CCP 580b does not apply, because there is no foreclosure sale of any kind. CCP 580d does not apply, because there is no non-judicial foreclosure.

In short, if the lender (Wilshire) agrees to permit a sale of the property for less than the amount of the debt, there is nothing in California statutory law which prohibits the lender from turning around and suing the borrower for the rest of the money owing under the mortgage. Thus, in order to protect the borrower, there should be verbiage in the short sale agreement expressly stating that the lender will take the money from the sale, in full satisfaction of the debt, and that the lender waives any right to pursue the borrower for the rest of the money. I would request the same from both lenders if there are two trust deeds from different lenders.
I would further indicate the need to have ANY agreement made be signed by the lender, especially after this recent appellate court ruling:

LOAN FORBEARANCE AGREEMENTS MUST BE IN WRITING
A lender's agreement to forbear or refrain from foreclosing on a home must be in writing and signed by the lender, even if the borrower has performed on the agreement by making a payment. This was the ruling of the recent appellate court case of Secrest v. Security National Mortgage Loan Trust (2008 WL 4516413). This case serves as a good reminder for REALTORS® and their clients to get loan forbearances, loan modifications, and other agreements with mortgage lenders in writing and signed.

I am not an attorney and any individual considering a short sale should seek the counsel of a real estate attorney or tax professional before listing the property.  San Diego short sales can be accomplished relatively quickly if you are working with a qualified short sale expert.  Call 619-507-1554 for free information on short sales.

Posted by Clay Gosnay on February 17th, 2009 4:00 AMPost a Comment (0)
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Email: Clay@ListedValue.com

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