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I've recently heard that if a home owner sells their home in a short sale they will be sent a 1099 tax document by the Federal goverment.  The home owners are selling the home for less than what is owed and the goverment considers the loss "income".  If you owe $140,000 and short sell for $100,000 you will be sent a 1099 for the income of $40,000. If the home is foreclosed on the same thing will happen, only difference is the seller is working to sell, they just walk away.  Under both situations your credit is ruined. How does one know what the best choice is? What is your view?

 

 

Linda Suidan

Realtor, ABR

www.lindasuidan.com

linda.suidan@gmail.com

 

 
Posted by Linda Suidan on 06/05/2010 12:24 AM   Comments (4)   Short Sales / Foreclosures in the ActiveRain Channel   short sales  
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The Bank Took My Supra
Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
I had a Townhome in Kennesaw, Georgia that I had started marketing as a Short Sale. My clients were a nice family that had moved up into their dream home a few years ago. They decided to rent the townhome. Meanwhile, the townhome community fell into…
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Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
Just finished my Open House that ended up pretty good… Met a loan officer, neighbor whom does embroidery, and networking group supporter whom I am going to get involved in. Will any one buy that home; I really wish they would… I am very very…
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Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
Via Mickey O'Brien (Certified Business Coach) : Posted on 23. Jan, 2010 by Mickey O'Brien in Business Tips This week on Facebook I asked “Who should I follow on Twitter” and surprisingly only a few people responded, one in which is…
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Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
This is once in a lifetime opportunity to be apart of these Historic Times. Foreclosure Homes have flooded the subdivisions across our towns. We are educating our communities and helping Families accomplish the American Dream of Home Ownership. We…
Free Foreclosure Home Tours in Suwanee Georgia
Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
Free Foreclosure Home Tours in North Atlanta Curious about the current foreclosure market? Have you wanted to see what all the talk is about? Have questions about purchasing a foreclosure? Free tour of Foreclosure homes. Banks are ready…
Unpredictable Short Sales
Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
Unpredictable Short Sales Short Sales are homes that are in the beginnning stages of foreclosure, but have not been foreclosed on yet; also known as pre-foreclosure. This can be a time of real hardship on the current homeowner; when the home is…
Impact of Foreclosure Homes in Our Neighborhoods -Suwanee Georgia
Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
Everyone knows that Foreclosure Homes have had an impact on neighborhoods across America. During my experience with showing groups of people foreclosure homes in Suwanee Georgia, I have found some interesting facts. One neighborhood has a…
Georgia Housing Re-setting Prices and/or At the Bottom
Linda Suidan (Results Realty Services, LLC and Mossy Oak Townhomes)
I do believe that we are approaching the time for a re-set in the home market this season. Georgia has always been on the bottom of the scale in our economy. If our home prices rise too quickly, I think that we will be in another bubble. I am happy…
 
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Linda Suidan

Duluth, GA

More about me…

Results Realty Services, LLC and Mossy Oak Townhomes

Office Phone: (678) 679-1677

Cell Phone: (770) 757-3423

Email Me

Realtor, ABR as a New Homes, FHA, Short Sale, Foreclosure, Buyers Specialist.


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