stop foreclosure: Home Seller Tips | What You Need To Know About Cancellation of Mortgage Debt
- 04/12/12 04:13 AM
Occasionally, a lender may partially waive a borrower’s debt. The common tax rule is that the sum of the debt forgiven is to be considered as taxable income to the borrower. Of course, there are exceptions to this rule; although, the borrower is still required to pay some sort of tax on the forgiven debt. There was a tax law that was enacted in December 2007, which provides assistance to distressed borrowers when some part of their obligation is forgiven. Unfortunately, this relief will be expiring on December 31, 2012, and NAR will surely be working hard all throughout the … (2 comments)
stop foreclosure: Obama Updates The HAFA Program
- 03/21/12 10:31 AM
Major news in the short sale and housing industry! Just this past March 9, 2012, the Obama Administration revealed recent updates to the Home Affordable Foreclosure Alternative (HAFA) program...continue reading … (0 comments)
stop foreclosure: Home Seller Tips | 7 Short Sale Selling Mistakes
- 12/14/11 04:19 AM
Why Some Short Sales Never Sell A lot of short sale sellers realize that it is not easy to sell a home as a short sale – sometimes a little too late. Short selling a home is a complicated process, and if not carried out correctly, may not go as planned and / or can cause the sellers to lose their home through foreclosure proceedings. Here are some of the common mistakes sellers make with short sales:..continue reading … (1 comments)
stop foreclosure: If You Are Contemplating Bankruptcy You Should Probably Consider A Short Sale
- 11/02/11 06:22 AM
Today I wanted to talk to you about bankruptcy. I have met with homeowners in the past, who were struggling with their mortgage payments, and have considered filing for bankruptcy in order to avoid the foreclosure process. Even if this may be the best option for your current financial situation, I suggest that you meet with a bankruptcy lawyer before you do anything, in order for you to know for sure. But I also wanted you to think about this: If the biggest debt or the only large thing that you owe as of the present is your home, completing … (2 comments)
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