Re-Listing Properties - 06/20/08 09:19 AM
For house hunters that new property listing may not be so new, after all.We all know back in late of 2006 the hot topic and ethical question was all about 're-listing' practices. Now in 2008 we are finding the topic is back. Some say "it's not fair", "it reflects badly on the property", or "the homeowner who has listed the property has no idea that such changes have taken place".The reality of the situation is the MLS provides the entire duration of a property even if it gets a new MLS number and is "re-listed". Also only a small percentage of … (4 comments)

The Short Sale - 06/11/08 03:11 PM
There are many ways homeowners can lose a home, but signing away ownership from foreclosure or bankruptcy can strip an owner of dignity and their nest egg. The option of a "short sale" or "discounted payoffs" may make more sense for the homeowner; however, there are some issues relating to these kinds of real estate transactions.The first issue, other than the Mortgage Forgiveness Debt Relief Act of 2007, the home owner should be aware the I.R.S. could consider such an act of debt forgiveness as income.There are no guarantees that a lender who accepts a "short sale" will not legally pursue a … (1 comments)

 

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