Legal Question in Real Estate Law in California

I have been trying to sale my house for 3 years. I am trying to get a sort sale but Bof A continues to drag thier feet making it impossible to sale twice have had bids but awaiting for B of A to do thier part has lost me the sale. They transfer me from one department to another. My credit is know poor and house is in forecloser. I am in the military and have moved across the country and am unable to make the morgage and rent. Do I have a legal options to save my credit?


Asked on 6/13/10, 4:46 pm

2 Answers from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Sorry to hear about your difficulty and being so far away that you can't handle the matter in person. Remember that a short sale is a compromise by the lender. It is under no obligation to do a short sale with any borrower, at any price. Failure to accept a buyer's offer may just be a way of saying no.

The best way to succeed with a short sale is to use a broker that has prior experience with the particular lender. They will get a commission if successful, but the broker knows who to call and what to say to get action whenever possible. Not all properties and all situations are going to be suitable for a short sale.

Military personnel do have some special rights that started with a federal law called the Soldiers and Sailors Relief Act back in WW II days, and is still in effect with many amendments. Unfortunately, I am not up-to-date on the particulars or how it would affect a California foreclosure.

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Answered on 6/14/10, 8:30 am

I am not up on the S&S Relief act, but I'm pretty sure it only applies to involuntary overseas deployments. It might save you from or put off a foreclosure, but it will not save your credit. Taking out a loan and then being unable to repay it goes on your credit no matter what. All I can suggest is that you go talk to your JAG office and see if they can offer any suggestions.

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Answered on 6/14/10, 12:03 pm


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