short sale: How a short sale affects your credit report.
- 02/11/08 03:12 AM
Dear clients! Many people ask us what happens when they have a short sale? Of course a short sale will only be accepted if you were some way in default on your payments. This hurts your credit in some way. Now to the short sale:1.) If the lender forgives the whole debt, the trade line will read. Paid or settled in full. This should not affect the scoring, as it is not reported as a negative account. It might even improve you debt in some way, as it shows you took care of your previous defaults.
2.) If the lender does not forgive the whole … (1 comments)
short sale: Bradenton Short Sales
- 10/10/07 01:23 PM
We recently added a special Domain to support our efforts for the solution of your mortgage problems. Our new Domain www.BradentonShortSale.com is currently forwarded to the short sale section on our regular Bradenton Real Estate website www.BradentonBroker.com . We will continue to add specific content to this section, espcially to give potential investors in short sales an overview about the local short sale situation in Bradenton, Sarasota and the islands. Weiss & Weiss Realty provides extraordinary support for international, national and local investors in the Florida Real Estate market.
short sale: Short Sales even more attractive for sellers
- 09/25/07 10:23 AM
No tax burden for short salesThe U.S. House Ways and Means Committee is considering legislation that would end the IRS practice of classifying mortgage debt forgiven in a foreclosure as taxable income. Panel Chairman Charles Rangel scheduled a committee vote on the legislation for tomorrow and spokesman Matthew Beck says the New York Democrat hopes to win broad bipartisan support for the bill. Since the 1990s, NAR has supported efforts to change the so-called "phantom tax" law. "It will relieve a tax burden at a time when an individual has experienced a true economic loss," says NAR President Pat V. Combs. … (0 comments)
short sale: Home foreclosures soar in August
- 09/18/07 08:59 AM
The Florida Association of Realtors reports that the number of foreclosure filings reported in the U.S. last month more than doubled versus August 2006, and jumped 36 percent from July - a trend that signals many homeowners are increasingly unable to make timely payments on their mortgages or sell their homes in time. The mortgage industry has been rocked by a surge in defaults, particularly among borrowers with subprime loans and adjustable rate mortgages that initially had attractive "teaser" interest rates but then can adjust upward, resulting in a payment shock.Many of the loans, some of which adjust in as little as … (0 comments)
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