irs: THE BANK CHANGED THE LOCKS! - 05/04/08 01:25 PM
There is discussion on Active Rain from time to time on whether in a short sale it is advisable to move out of the house. The real issue is the clause in the mortgage that says the bank can change the locks on the house if it is "abandoned". The exact … (23 comments)
irs: SHORT SELLER STILL MUST DECLARE INCOME ON SALE! - 04/18/08 07:25 AM
The Mystery of income you can't spend - but do you have to declare it?
When DON'T you have to report forgiven debt (from a short sale, deed in lieu or foreclosure with release from the lender) as income?
One of the biggest issues that potential short sellers and those … (3 comments)
irs: SELLERS ALWAYS HAVE INCOME FROM A SHORT SALE / DIL / AND MAYBE A FORECLOSURE - 04/16/08 05:20 PM
CANCELLATION OF DEBT INCOME - WHAT IF THERE IS NO 1099? When DON'T you have to report forgiven debt as income? One of the biggest issues that potential short sellers and those in foreclosure ask me is whether they have to get a 1099 for any forgiven debt from their lender. Without a … (41 comments)
irs: OBSERVATIONS ON A WEEK AT WORK - A RAMBLE - 03/28/08 09:01 PM
What a week! Mortgage foreclosure White Knights targeted by the Florida Attorney General (no surprise there - just why did it take so long?!!!) CNN special report on the Mortgage Meltdown and it being second only to the Great Depression. Record foreclosures expected to continue to break records through 2008 and into 2009. But heck … (0 comments)
irs: FILING FORM RELEASED BY IRS FOR DEBT RELIEF ACT - 02/22/08 01:47 AM
New IRS Form for Filing for Debt Relief The form for filing for tax relief under the Mortgage Forgeiveness Debt Relief Act of 2007 has been released and is available online. Click HERE for the form. Information about the relief available - which is available only to primary residences that incurred the tax … (4 comments)
irs: WHAT DO I DO? -- I'M UNABLE TO PAY MY MORTGAGE - 01/12/08 09:46 PM
Most Common Question: "What do I do? - I can't pay my mortgage" As an attorney, I receive plenty of telephone calls and visits from people that are no longer able to pay their mortgage on their home or investment property. They all have endless questions and usually tell me they are … (7 comments)
irs: WHAT DO I DO? -- I CAN'T PAY MY MORTGAGE - 01/12/08 09:13 PM
Most Common Question: "What do I do? - I can't pay my mortgage" As an attorney, I receive plenty of telephone calls and visits from people that are no longer able to pay their mortgage on their home or investment property. They all have endless questions and usually tell me they are … (4 comments)
irs: SHORT SALE TRILOGY - 01/01/08 08:04 PM
We get at least one call a day at my office on short sales. It is really amazing how many people - professionals as well as potential sellers - do not even know what the term "short sale" means. This blog assumes you have actually worked a short sale already -- … (0 comments)
irs: SHORT SALE TRILOGY - 01/01/08 08:03 PM
We get at least one call a day at my office on short sales. It is really amazing how many people - professionals as well as potential sellers - do not even know what the term "short sale" means. This blog assumes you have actually worked a short sale already -- … (1 comments)
irs: Mortgage Forgiveness Debt Relief Act of 2007- Another Look - 01/01/08 12:13 PM
I have been getting a lot of calls and emails about the Mortgage Forgiveness Debt Relief Act of 2007. The new law became effective today, and applies to 1099's on short sales or foreclosures retroactive to January 1, 2007. Before the Act was passed, one of the rewards for a homeowner helping … (2 comments)
irs: Mortgage Forgiveness Debt Relief Act of 2007- Another Look - 01/01/08 12:11 PM
I have been getting a lot of calls and emails about the Mortgage Forgiveness Debt Relief Act of 2007. The new law became effective today, and applies to 1099's on short sales or foreclosures retroactive to January 1, 2007. Before the Act was passed, one of the rewards for a homeowner helping … (2 comments)
irs: SHORT SALES AND IRS LIENS - 11/03/07 01:21 PM
SHORT SALES AND IRS LIENS
This being my first blog entry, I figured to talk about something simple.
In my law practice we see a lot of short sales. Indeed, we offer a service to Realtors and Sellers to process their short sale material with the lenders (without the downward … (2 comments)
irs: TRUE STORY - Renter forges deed, then conspires to sell house and pocket mortgage proceeds - 11/03/07 01:19 PM
FRAUD - LOSING YOUR HOME - IDENTITY THEFT
It is a day past Halloween, but here is a scary TRUE story:
My office is presently working on a case that is so prevalent that I thought posting it on my blog would be helpful. The matter involves a single person … (3 comments)
irs: SHORT SALES AND IRS LIENS - 10/29/07 06:06 AM
This being my first blog entry, I figured to talk about something simple. In my law practice we see a lot of short sales. Indeed, we offer a service to Realtors and Sellers to process their short sale material with the lenders (without the downward pressure and lowball influence from an investor … (7 comments)
Legal true life experiences, general observations and commentaries for Realtors, Lawyers and Mortgage Brokers - also see our Palm Beach County Short Sales group blog.
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There is discussion on Active Rain from time to time on whether in a short sale it is advisable to move out of the house. 
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