About 15 minutes into her latest public television program, “The Money Class”, Suze Orman advises that if you have a home equity line of credit (HELOC) and you do a short sale, you have a big problem. She explains the HELOC is recourse and that even if you do a short sale, the HELOC lender can still come after your personal assets. Suze is wrong…at least in California. And her mistake could make all the difference in whether or not you decide to do a short sale.

I’m going to give Suze the benefit of the doubt and assume she recorded this program before California law changed on this important issue back on July 15, 2011. But it is essential that anybody considering a short sale get an accurate understanding of this new law (if you want to find out how you can get legal help on your short sale at no charge, please contact me at [email protected]). Click here to read my article published in today’s North Bay Business Journal about this important new development affecting all California residential short sales and why every homeowner whose home is “under water” must understand the short sale option.

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Coronavirus Alert: Best Practices for Commercial Lease Challenges from the Landlord and Tenant Perspective

 

When: Friday, June 5th @ 12pm PST

Join Lerman Law Partners, LLP real estate litigation and transaction attorneys Jeff Lerman, Phil Diamond and Dan Dersham, Jeffer Mangels Butler and Mitchell LLP bankruptcy attorney Ben Young, and McLaughlin Sanchez LLP eviction and rent control attorney Michael McLaughlin for a free 2 hour webinar Friday, June 5th, at 12:00 noon (if you cannot make it, register and you will receive a recording), when we will be discussing the impact of COVID-19 on commercial leases, evictions and bankruptcy issues, from both the landlord and tenant perspective.

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