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Short Sale Flipping Information
The California Department of Real Estate issued a warning in March 2010 against the practice of short sale flipping when the short sale lender is unaware that they are being presented with an under market bid for the home. Short
Short Sale Alert: One Loan? No More Deficiencies After a Short Sale in California.
I think this is probably the most significant development for short sale sellers since the housing bust began and frankly it makes me proud to be a Californian. In my mind it was the right thing for the legislature to do. California Senate Bill 931 prevents first lien holders who approve a short sale from then turning around and pursuing the homeowners for the deficiency.