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Category Archives: Bank Updates on Short Sales

Will The Mortgage Debt Relief Act Of 2007 Be Extended?

Posted on February 24, 2012 by Kurt Wannebo

     Will the Mortgage Debt Relief Act Of 2007, which expires at the end of this year 2012, will be extended?      Now, very briefly to explain what that is, that is a IRS provision, that basically states, if you are going to do a short sale and this is your primary residence and you have not… Read More »

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Do Banks Like Working With Investors?

Posted on February 24, 2012 by Kurt Wannebo

      Do Banks Like Working With Investors? This is a question I get quite frequently. People call me up and say, I have an investor who showed up at my door or sent me a mailing piece and they claimed that they can buy my property and work with my bank for me. So they… Read More »

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Why Wells Fargo Is Coming To Your House

Posted on January 6, 2012 by Kurt Wannebo

     I wanted to address a concern a few of my clients have, and other people I’ve spoken with, about Why Wells Fargo is Coming to Your House? The circumstance they have been telling me is that Wells Fargo has been coming and knocking on their door. So, I wanted to explain to you a little… Read More »

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Deficiency Issues After a Short Sale 7/18/11

Posted on July 19, 2011 by Kurt Wannebo

      This is my new section on ” Deficiency Issues After A Short Sale “. Today is July 18 2011, this is an update, this is a new video, my old section or consultation about deficiency is no longer valid nor relevant. There have been new updates as of July 15thew legislation and law that… Read More »

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New Law Passed 7-15-11

Posted on July 15, 2011 by Kurt Wannebo

     In a major victory for REALTORS©, Governor Brown signed into law today and effective IMMEDIATELY a C.A.R.-sponsored bill, Senate Bill 458, amending Civil Code Procedure 580(e) and prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lienholder. Effective immediately for transactions closing escrow… Read More »

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Getting Calls From The Bank On Your Short Sale?

Posted on June 21, 2011 by Kurt Wannebo

      Getting Calls From The Bank On Your Short Sale and you are in the middle of the process, or perhaps you are just starting a short sale? The first thing you need to understand is that if you are behind on payments, departments such as their collections department will start calling you on every… Read More »

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Do I Qualify For a Short Sale?

Posted on June 16, 2011 by Kurt Wannebo

      Do I Qualify For A Short Sale? The answer to that question is sometimes hard to determine especially if your just doing some initial research online, the best way to get that question answered is to call a professional, call somebody who is extremely knowledgeable about short sales. I offer free consultations and we… Read More »

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Short Sale Move Out Or Stay?

Posted on May 16, 2011 by Kurt Wannebo

     Many people ask me when attempting a short sale here in San Diego whether they should Short Sale Move Out Or Stay? I always let them know that it is a matter of preference to them, and it doesn’t affect my job at all, as long as they are willing to agree to some conditions…. Read More »

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Wells Fargo Short Sale Update 5-2-2011

Posted on May 2, 2011 by Kurt Wannebo

     Since I am short sale broker here in San Diego that does quite a bit of volume, we are constantly trying to monitor the bank trends and changes, when it comes with working with each bank. We recently did an in office study of Wells Fargo short sale update and their short sale process which… Read More »

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New Law Gives Calif. Homeowners Deficiency Protection After Short Sale

Posted on October 18, 2010 by Kurt Wannebo

     California Gov. Arnold Schwarzenegger signed a state bill into law Oct. 1 prohibiting mortgage holders from pursuing deficiencies after a short sale is accepted. This new law gives homeowners deficiency protection after short sale      Before S.B. 931 was signed, distressed borrowers who sold their homes for less than the owed amount were still in danger… Read More »

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