Paddy Deighan Real Estate Blog

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Services for Real Estate Pros - Aston McLaren Inc
Paddy Deighan, creative solutions for complex real estate situations. Foreclosure defense, short sale, deed in lieu and loan modification

ARCHIVED BLOG POSTS

2011 

Many have made comments to my blog or emailed me separately in regard to my blog about a recent bankruptcy appellate case that could potentially revolutionize loan modifications, forensic audits, short sales, deficiency judgments etc. I wanted to review the case with colleagues prior to discussin...
06/30/2011
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  Yesterday, I spoke with a listing agent in Sacramento. My client and I were speaking with her about an offer on a listing. It is a short sale and the owner must sell because a sale date is approaching. We discussed the parameters of the offer that would be forthcoming in a day or so.  Everythin...
06/25/2011
As a follow up to my blog from last evening, I am reviewing the recent Bankruptcy Appellate Panel (BAP) decision that has far reaching implications on all short sales.  I am reviewing the decision with several colleagues because this will have a substantial impact on foreclosure and short sales. ...
06/24/2011
A federal bankruptcy judge has ruled that a lender must prove that it has the original note in order to receive relief from the automatic stay in bankruptcy and proceed against the real estate.  This has potentially HUGE repercussions in all forclosures and certainly all foreclosures in bankruptc...
06/23/2011
For something completely different, it appears that the federal government is over stepping its boundaries again. Representatives of the House have drafted a letter requesting copies of “any and all” communications between Elizabeth Warren and any state attorneys general since September 2010. The...
06/21/2011
I have received many comments from real estate agents that lack of a tax credit is hurting the current real estate market. Said another way, the tax credits (artificially) stimulated the markets and now that tax credits are no longer available, the real estate markets are challenging at best. Her...
06/21/2011
I have been working on many short sales, Deeds in Lieu (DIL) and foreclosure defenses in Florida. I recently encountered an almost brand new home that contained “Chinese drywall”. We received an estimate to replace the toxic drywall with new drywall and the price exceeded $100,000! This is a huge...
06/21/2011
Several days ago I mentioned that Wells Fargo pulled out of the reverse mortgage market. They will continue to service existing loans, but no longer source new loans. Wells Fargo represented about 25% of the reverse mortgage market. Bank of America very quietly pulled out of the reverse mortgage ...
06/19/2011
There was a settlement in various matters between the real estate industry lenders and the federal government. The lenders were to provide an action plan for handling loan modifications and foreclosures. The plan was due this week, However, the lenders received a 30-day extension for submitting t...
06/19/2011
  THis is a great blog in an area of real estate law in which few people have knowledge.  This is the type of blog that we need to see more of on AR    As a realtor, do you manage any rental properties where the owner is a foreign person?  If you do, are you collecting from the GROSS receipts 30%...
06/18/2011
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Paddy Deighan JD PhD

Paddy Deighan J.D. Ph.D
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