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Who pays the Difference between the Loan Amount Owed and the Selling Price in a Orlando Short Sale? Question 2 of the Top 20 Questions about Orlando Short Sales - 02/29/12 08:31 AM
Top 20 Questions asked about Short Sales Answered.
Question 2
Who pays the Difference between the Loan Amount Owed and the Selling Price in a Orlando Short Sale?
Here is the link to the Rest of the top 20 Questions asked about
Short Sales: CLICK HERE - Video Top 20 Questions
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Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, … (0 comments)
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What is a Short Sale? I am in Orlando Florida - Here are theTop 20 Questions about Short Sales - 02/28/12 08:54 AM
Top 20 Questions asked about Short Sales Answered.
Question 1
What is a Short Sale?
Here is the link to the Rest of the top 20 Questions asked about Short Sales:
CLICK HERE - Video Top 20 Questions
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Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee Florida or … (0 comments)
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Foreclosure Starts Begin to Rise in January 2012 - 02/23/12 06:22 AM
Lender Processing Services Inc. (LPS) has reported the following "first look" at January 2012 month-end mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans:
►Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 7.97 percent
►Month-over-month change in delinquency rate: -2.2 percent
►Year-over-year change in delinquency rate: -10.5 percent
►Total U.S foreclosure pre-sale inventory rate: 4.15 percent
►Month-over-month change in foreclosure presale inventory rate: 1.1 percent
►Year-over-year change in foreclosure presale inventory rate: -0.1 percent
►Number of properties that are 30 or more days past due, but not … (0 comments)
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Obama Proposes Extending Tax Waiver on Mortgage Debt Forgiveness - 02/20/12 08:15 AM
Obama's FY2013 budget proposal includes an extension of the mortgage Forgiveness Debt Relief Act of 2007 The Act ensures that homeowners who received principal reductions or other forms of debt forgiveness on their primary residences do not have to pay taxes on the amount forgiven. Without the Mortgage Forgiveness Debt Relief Act, debt reduced through mortgage modifications or short sales qualifies as income to the borrower and is taxable. Under the act, up to $2 million in debt elimination can be tax-free. In the Treasury’s Green Book, its summary explanation of the administration’s budget proposal, it calls for an … (1 comments)
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Facing capital gains on investment property? Here’s one way to defer taxes. - 02/14/12 09:38 AM
If you own investment property, and you sell it this year, you will have to pay 15 percent capital gains tax to the Internal Revenue Service. This does not include the up-to-25 percent recapture tax on any depreciation that you took over the years. Next year, unless the Supreme Court throws out the new health-care law, the tax rate will be 18.8 percent. Why?
Because of a special 3.8 percent Medicare surtax on unearned income, which includes the sale of rental properties and even your second home at the beach. This will kick in Jan. 1. There is a way to … (0 comments)
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1424 Russell ave Orlando, Fl First time home buyer property or Great Orlando Investment property - 02/11/12 10:31 AM
************************************************************************************** Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.
Please visit: Avoid Foreclosure / Short Sale Help http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com, or http://OrlandoRealEstateVoice.com , If you’re a … (1 comments)
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Foreclosure settlement: Fla. to get $8.4 billion - 02/11/12 08:26 AM
Florida homeowners and foreclosure victims will receive almost one-third of the $8.4 billion mortgage settlement announced yesterday. The settlement amount is second only to California. “This settlement will provide substantial relief to struggling Florida homeowners, and ensures that our state gets its fair share of the relief being provided nationally,” says Florida Attorney General Pam Bondi.
According to Bondi, most of the money will go to current homeowners who are underwater – who owe more on a mortgage than their home’s current worth – in the form of principal reductions and/or converting their mortgage interest rate to lower levels. … (2 comments)
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Orlando Real estate drops but second home market may see increase - 02/09/12 10:35 AM
Despite the fact that 30-year mortgage rates are under 4 percent and home prices have remained low, many people can’t take advantage of increased housing affordability. Recovery will be slow, according to Karl Case, co-founder of the S&P/Case-Shiller home price index, with many homeowners struggling not to lose their property.
Rather than relocate, many homeowners are improving their existing residences, with the National Association of the Remodeling Industry expecting $113.6 billion to be spent on remodeling through the third quarter. However, experts predict a growing number of baby boomers will snap up vacation and rental properties in the coming years, with … (0 comments)
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Orlando Short sale sellers need to close in 2012 - 02/04/12 07:39 AM
If a bank writes off debt in a short sale, it’s a “taxable event,” and the lender tells the Internal Revenue Service about the deal by submitting a “Form 1099-C, Cancellation of Debt” at the end of the year. Home sellers must acknowledge the amount when they fill out their federal taxes.
Through Dec. 31, 2012, however, the federal government forgives any tax liability associated with forgiveness of a mortgage loan. “In general, homeowners believe the government will extend this tax provision,” says San Diego Realtor Joy Bender. “However, as evidenced by the First Time Homebuyer Credit expiration in … (0 comments)
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Home Distressed Home Sale Prices Drop 4.7 Percent in 2011 - 02/03/12 07:32 AM
CoreLogic has released its December Home Price Index (HPI) report showing that distressed sales home prices in the U.S. decreased 4.7 percent in 2011 (compared with December 2010). This year-end report shows that home prices continued the trend of year-end decreases, the fifth consecutive year with a decrease in the HPI.
The HPI, excluding distressed sales, showed that home prices decreased by 0.9 percent in 2011, giving an indication of the impact of distressed sales on home prices in 2011. The report also shows that national home prices including distressed sales decreased 1.4 percent on a month-over-month basis, the fifth consecutive … (0 comments)
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National Servicing Standards Emerge in New Homeowner Bill of Rights - 02/02/12 02:40 PM
The administration believes that the mortgage servicing system is badly broken and would benefit from a single set of strong federal standards,” the White House said in a document outlining President Obama’s vision for how a servicing shop should be run.
The president on Wednesday introduced what he’s termed the Homeowner Bill of Rights – plainly defined principles that Obama says will ensure borrowers and lenders are playing by the same common-sense rules. At the top of that list is a simple, straightforward mortgage disclosure form so borrowers have a clear understanding of their loan.
Obama told constituents in … (0 comments)
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Jerry LaRose, Realtor, Short Sale Expert Orlando, Florida Real Estate Short Sales
Orlando,
FL
More about me…
Keller Williams Realty mailto:jerry@jerrylarose.com
Address: Orlando, East Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, , Altamonte Springs, Maitland, Longwood, Apopka, Ocoee, Lake Mary, Sanford,, Orlando, Fl., 32822
Office Phone: (407) 580-7011
Cell Phone: (407) 580-7011
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