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I Haven’t Filed My 2010 Tax Return -- Can I Apply for a Short Sale?

By
Real Estate Broker/Owner with Mint Properties, Lic. #01871795 Lic. #01871795

 

I Haven’t Filed My 2010 Tax Return -- Can I Apply for a Short Sale?

Generally, short sale lenders require a copy of two years tax returns to complete a short sale application.  I am routinely asked by potential short sale sellers whether they can apply for a short sale even though they have not yet filed their 2010 taxes.  The answer is yes, you can still apply for a short sale, although you must supply your 2009 and 2008 tax return records, and a copy of the extension form for your unfiled 2010 return.  You do not have to wait until your 2010 tax return is filed to apply for a short sale.

If you are considering a short sale of your Santa Maria, Orcutt,  or Nipomo home, you should seek out an experienced Central Coast Short Sale Agent to guide you through this process.  If you would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.

Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent.   She is a Certified Distressed Property Expert (CDPE) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.

*  Nothing in this article is intended to solicit listings currently under contract with another broker.  This article offers no legal or tax advice.  Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement.  Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

Copyright© 2011 Tni LeBlanc *I Haven’t Filed My 2010 Tax Return -- Can I Apply for a Short Sale?*

 

Posted by

Tni LeBlanc, Broker
(805) 878-9879 mobile/text

tni@mintprop.com
www.MintProp.com
CalBRE #01871795

Rodney Mason, VP of Mtg Lending
Guaranteed Rate NMLS# 2611 - Atlanta, GA
AL,AR,AZ,CA,CO,FL,GA,IN,MI,MS,NC,NV,SC,TN,TX,VA,WA

Buyers and sellers do need to get their returns filed ASAP though.  A copy of the filed extension is a must though.  Many don't realize this.

Jun 07, 2011 02:29 PM