[quote=sdrealtor]SMH
Your loan is a recourse loan BUT and its a big BUT California is a one action state. If you onely have one loan, foreclosing is their one action. That is why 1st are generally easy to deal with on short sales. Its the 2nds that are the problem because they dont foreclose and still have one action against you. So, even though you have a recourse loan once your lender forecloses you are free and clear. Of course you should verify this with an attorney.
Personally I think Battiata is one of the slickest marketers out there and does a very good job and marketing himself as well as his listings in a normal market. Most of his business is lower end (not that he doesnt have higher end clients) who require less hand holding and are sold on the slickness as opposed to the personal attention. For many clients his team does a wonderful job. My objection is in the short sale arena which is very labor intensive and requires a ton of hand holding amonst many stakeholders in the transaction. His model just does not translate well to that.[/quote]
Thanks for the clarification. I already checked with an attorney before, and will if and when we get an acceptance from the lender.
