Real estate blog entries tagged with short sale by Christina Pilgrim (Weichert Pacific Equity Properties)

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Home : Blogs : Christina Pilgrim : Folsom Lake Area Real Estate - Christina Pilgrim : Tag "short sale"

short sale: Short Sale vs. Foreclosure - 05/01/08 04:09 PM

Did you see the price on that house next door? He paid $400,000 for that two years ago and now the agent is asking $210,000 on a short sale.....What's a short sale?
In my opinion, a short sale is a long shot, or wishful thinking on the part of a desperate seller or determined Realtor. By definition, a short sale is the process of asking your existing lender to accept LESS than the full balance owed on the home. You are effectively "short" funds to pay the loan off.
The first question is, why would a lender even consider this type of … (0 comments)

short sale: Proposed CA Legislation - 01/15/08 04:54 PM

I took a short sale class today and the instructor Scott Thompson said there is proposed legislation in California to make it illegal for the agent who does the BPO to get the REO listing due to conflict of interest.
I emailed him to clarify and make sure I heard correctly and will follow up when I hear. Has anyone else heard about this?
Also wanted to ask if anyone has taken this training? I was told it is now the 'pre-training' to qualify for PAS training: http://www.realestateeducate.com ?
Thanks!
… (3 comments)

short sale: Debt Foregiveness Act of 2007 - 12/30/07 12:12 AM

H.R.3648: Mortgage Forgiveness Debt Relief Act of 2007 was signed into law by the President on December 20th 2007. Please read all the information on this as if effects your "short sale" sellers.
SECTION 1. SHORT TITLE.
This Act may be cited as the `Mortgage Forgiveness Debt Relief Act of 2007'SEC. 2. DISCHARGES OF INDEBTEDNESS ON PRINCIPAL RESIDENCE EXCLUDED FROM GROSS INCOME.
(a) In General- Paragraph (1) of section 108(a) of the Internal Revenue Code of 1986 is amended by striking `or' at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting `, or', and by … (1 comments)

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Christina Pilgrim

Folsom, CA

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Weichert Pacific Equity Properties

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