Ar_home_b_search
 



short sale: I'm going to be on the radio! - 05/11/12 05:24 PM
I’m excited to announce that I will be on the Tina & Drew Radio Show this weekend!  You can tune in to AM 1090 or listen online at this link this Saturday, May 12th at 3 PM.  I’ll be talking with Tina and Drew about short sales…. including the new changes made by FHFA to the way Fannie and Freddie servicers handle short sales, short sale vs. foreclosure or strategic default, and how I work with clients during my initial consultation.    We will be offering a special deal to listeners of the Tina & Drew Show, so tune in to find out more!  … (2 comments)

short sale: Short Sale or Foreclosure? Now, Please! - 03/10/12 12:20 PM
The Mortgage Forgiveness Debt Relief Act is set to sunset on December 31, 2012 and it may not get extended. The law, first enacted in 2007, allows homeowners who have received principal reductions on their mortgages as the result of loan modifications, short sales or foreclosures to avoid income taxation on the amounts forgiven.
Here's a little history and how it works.  Before 2007, all cancellations of debt by creditors (i.e., mortgage, personal or auto) were considered taxable events under the federal tax code. If you owed $500,000, but paid off only $350,000 through an agreement with the lender, the $150,000 … (1 comments)

short sale: Buying a Short Sale: From the Buyer’s Point of View - 11/28/11 05:07 PM
OVERVIEW
Buyers pursue short sales to get a good deal. But you might want to think twice about making an offer on a pre-foreclosure, short sale home. It's not as simple as you may believe, and very few can close in 30 (or even 60) days or less.
A short sale occurs when a bank agrees to accept less than what is owed on a Mortgage or Deed of Trust to release its lien. Negotiated right, a short sale can be an excellent alternative to foreclosure to both sellers and buyers. And banks will consider a short sale because it allows … (1 comments)

short sale: Would you know a red flag if you saw it? My Short Sales Courses Coming in July! - 07/01/10 07:07 PM
Check out my newest short sale class with Washington REALTORS® Education:

The Short Sales Course
Instructor: Lynn Arends
3.0 Clock Hours towards License Renewal
Short Sales - From Pre-Listing to the Post Closing Celebration
Analyze the types of buyers and sellers who should and should not consider participating in a short sale. Learn to recognize the red flags that signal potential fraud and how you can avoid it. Understand the forms and how to use them to achieve your client's desired outcome. In short, take control of the short sale process by knowing what to do and when to do … (0 comments)

short sale: What's Really Going On With Fannie's New Foreclosure Guidelines - 06/25/10 01:46 PM
As those of you who saw yesterday's post know, Fannie Mae is extending the waiting period following foreclosure to 7 years. While their spin on it is to say that “blah, blah, blah, it encourages short sales, blah” this is really about targeting those strategic defaulters.
If you do a short sale on an investment property, they are not forgiving the deficiency, so you’d be better taking your chances going to foreclosure and that it would be non-judicial, because I doubt this raises the threshold for them to direct the servicer to foreclose judicially.
What this is really targeting is the … (1 comments)

 
Lynn_arends Rainmaker_large

Lynn Arends - Attorney | Designated Broker

Seattle, WA

More about me…

Lynn Arends Law Group PLLC & Lynn Arends Realty Group

Address: 2100 Westlake Ave North, Suite 201, Seattle, WA, 98109

Office Phone: (206) 282-4848

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find WA real estate agents and Seattle real estate on ActiveRain.