As far as I can tell today, this property is not scheduled for foreclosure auction, so it is possible the owner is again trying to get a loan modification in order to keep the house.
The owner may also have discovered that in California, only "purchase money" short sale debt will be forgiven. Purchase money is the money used to purchase the house, as opposed to refinancing money. Since the money that would be lost to this short sale is refinancing money, the owners may have been advised to allow the bank to foreclose, to ensure the bank cannot pursue them for the lost proceeds.
Don't hesitate to ask any me questions about any property anywhere in California! cj (firstname.lastname@example.org)
If you are interested in learning more about your area, we offer a free report at http://www.sonomacountypropertyvalues.com This report will provide you detailed information all all the properties that are active or have sold over the last six months!
Ernest Berghof - 707-480-4800