short sale vs forclosure: Short Sale VS Foreclose Debate! (part one) - 07/09/11 10:05 AM
Short Sale VS Foreclose Debate! (part one) Picture paints a thousand words! So, I am not going to bore you with words—I will SHOW YOU that a Short Sale, hands down, is a better option for ALL!
 
 
Here is one particular street in South Gate, CA 90280: This was a Short Sale on that street that went to foreclosure!:                                                                                                                                                                                                                                                        
 
 
 
This is short sale that close successfully on the same street!
You mean to tell me that this Homeowner on the same street:
 
AND this homeowner: 
 
 
....would prefer … (2 comments)

short sale vs forclosure: short sale update - 12/08/10 07:50 PM

Pre-forecloure and short sales update! Just in case you don't know what a short sale is, this is a great article: The new exit strategy: A short sale by: Dean Foust. 
Read this important update regarding the statement in Mr. Foust's article: "although they could still demand the homeowner make some kind of payment or share the loss."  This is no longer true for California; this article was written in March 5, 2007, and in 2010 a new short sale law passed (SB 931 short sale law). This new California "short sale" law will be effective January 1, 2011.   Banks cannot obligate sellers in "short sales" … (2 comments)

short sale vs forclosure: Short Sale Vs a Foreclosure - 10/27/10 04:15 PM
The decision to do a short sale or walk away is not any easy one!
 
I urge you to first look into all your possibilities before you make your decision.
First, let me start out by saying that you will not be liable for any income taxes since the passage of the 2007 Mortgage Relief Tax law, but this law will expire in 2012. So any short sales or foreclosures after 2012, you might end up owing taxes on the debt forgiven. Even if this law didn't exist, if you do a short sale over a foreclosure--you still end up winning … (3 comments)