Real estate blog entries tagged with gainesville short sale realtor by Chris Ann Cleland, Associate Broker, Northern VA (Long & Foster REALTORS®, Gainesville, VA)

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Home : Blogs : Chris Ann Cleland, Associate Broker, Northern VA : Northern Virginia Real Estate News & Opinion : Tag "gainesville short sale realtor"

gainesville short sale realtor: Northern Virginia Cash-Out Refi's May Not Be Eligible for Mortgage Debt Relief in a Short Sale - 11/10/09 06:15 PM

Northern Virginia Cash-Out Refi's May Not Be Eligible for Mortgage Debt Relied in a Short Sale. If you are a short sale seller that has taken cash out in a refi, you need to consult a tax professional immediately. If your short sale is approved and your mortgage holder sends a 1099 to the IRS, you may have to pay taxes on the cash-out portion of your refinance.
On the IRS website, where the Mortgage Debt Relief Act is defined, it clearly states that:
The Act applies only to forgiven or cancelled debt used to buy, build or substantially improve your … (7 comments)

gainesville short sale realtor: What Happens in a Loan Modification? - 11/09/09 12:08 PM

As a Northern Virginia short sale listing agent, I meet many sellers who really seem confused on what happens in a loan modification. There seems to be a general misconception that loan modification means a portion of your principal loan balance will be forgiven and reflect more of the market value of your home. While this may happen in RARE instances, it is not how mortgage lenders will do business 99.9% of the time.
Loan modification is actually a temporary reduction in interest rate to help you through a financial rough patch. When you signed your loan documents, you promised to repay … (12 comments)

gainesville short sale realtor: Top 10 Reasons to Buy this Bristow Short Sale: #10 - 10/05/09 12:01 AM

There are ten great reaons to buy this Bristow Short Sale. We'll do this Letterman style and start with reason #10.
#10 - LIVE CLOSE TO SHOPS!
This Bristow short sale, priced at $399,000 with four bedrooms and three and a half bathrooms, is right inside the Linton Hall corridor and close to many shops. Let's start with grocery shopping.
Whether you prefer Giant Food, Safeway, Harris Teeter, Wegmans or Shoppers Food Warehouse, you are in luck! When you buy this Bristow short sale, you all close to all five major supermarkets AND a Super Target that also have a grocery store.
As … (5 comments)

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Chris Ann Cleland, Associate Broker, Northern VA

Bristow, VA

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Long & Foster REALTORS®, Gainesville, VA

Address: 7526 Limestone Drive, Gainesville, VA, 20155

Office Phone: (703) 402-0037

Cell Phone: (703) 402-0037

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