short sales: Short Sale Tax Consequences Require Tax Advice, Not Do-It-Your Self Income Taxes!!!
- 01/20/12 12:52 PM
Short Sale may be the best alternative if you cannot make your mortgage payments, or do not qualify for a modification or are just insolvent without resources. The Short Sale tax consequences need to be strategically planned in advance as they are a key consideration. Using Real Estate Agents and Tax Accountants to assist in making informed decisions could result in saving you thousands. The alternative may result in huge tax obligations that could have been resolved by some simple planning upfront. Mortgage Tax Relief Act of 2007 has exceptions and rules that must be followed in order to qualify for … (7 comments)
short sales: Can I Buy a House after a Short Sale or Foreclosure? - reblog
- 10/23/11 04:01 PM
This is a question that is not asked enough by people who have been unfortunate enough to be put in a place where they are facing a foreclosure. The short sale definately puts them in a place where it can make a huge difference in their ability to buy a home again. This is a great guideline for people facing foreclosure. We are short sale specialists and handle short sales with all the lenders, call today and find out why doing a short sale my be a big advantage and short sales are easier now then they ever have been. This … (0 comments)
short sales: The Secret to Keeping your Home may be as simple as Communication!!
- 09/22/11 04:52 PM
The role of the mortgage servicer has radically changed in the past 6 years with the advent of government assistance programs designed to keep people in thier homes and allowing them to avoid foreclosure. The new programs assist mortgagors by allowing them to have their loans modified and delay making payments if they are unemployed until they get back on their feet and get a job. The programs have evolved over the past 5 years and dramatically changed in an effort to qualify more people. The thing that borrowers must do is communicate with their loan servicer. If they are not … (3 comments)
short sales: Tenant occupies Short Sale, what to do?? Reblog
- 08/09/11 04:17 PM
If you are selling ahome on a short sale, and a tenant is in place there are a lot of considerations to be made, below is a great blog by my friend of many of the things that need to be considered in this situation. There's a Tenant in my Short Sale! What do I do?Oh boy, where do we start?There are a couple reasons that there would be a tenant living in a house that's trying to be sold via Short Sale.1. Owners probably thought they could save the house by having a renter pay some or all of the … (2 comments)
short sales: Stop making payments and get Free Money from the Bank!!!
- 08/03/11 04:54 PM
We live in such amazing times. If you don't make your payments and go delinquent, then decide to short sale you can get up to $30,000 in relocation fees from your friendly mortgage bank!!! Yeah, that is right, the banks are paying "RELOCATION" fees to mortgagors who cannot make their payments so they can move. Now, don't get me wrong, I believe in charitable contributing and tithing, when is the last time your bank agreed to give you some free money when you had a bad month??? DS News published an article on Friday titled "Major Lenders Offering Perks on Short … (13 comments)
short sales: Loan Mod VS. Short Sales!!! Which is Better for Taxpayers & the Economy???
- 09/03/10 05:04 AM
News is just breaking that Loan Modifications just passed the 1 million mark at 1.2 Million Modifications completed in 2010 YTD. Buyers that do not qualify for HAMP modifications can apply for proprietary modifications through their loan servicers. HOPE Now says for the month of July alone "proprietary" modifications topped 120,000. So contrary to what we may believe that no one is getting their loan modified, some people must be delaying or hopefully stopping foreclosures this way instead of just going for short sales!!! I know on my last blog about modifications I got a lot of feedback that no one … (1 comments)
short sales: When will the Housing Market Be at the Bottom??? Don't fool with Mother Nature!!!
- 08/30/10 04:58 PM
The Mortgage Bankers Association reported that Foreclosures were down 10% in the Second Quarter last Thursday. The Good News did not last long as Lender Processing Services announced later that day that foreclosure starts jumped 24.5% in July over June 2010. It is the fourth highest level ever reported by LPS. Further it was reported that the industry's total foreclosures topped 2 Million which was 5.8% higher than 1 year ago when we all thought that the market bottom had fallen out. LPS data suggests that Non-Current loans represent 13.8% of all loans. These are amazing numbers. That does not even … (3 comments)
short sales: Do a Short Sale in Georgia and Go Directly to Jail
- 08/29/10 04:19 PM
Is Georgia the Only State that has passed Legislation to keep Realtors and Attorneys both from doing Short Sales. I had a couple call me last week in the throws of a very difficult short sale and I told them I could not help them. It was hard to turn someone away, but after 25 years in the business, I cannot help people negiotiate with their banks on Short Sales because of the Georgia Legislation. I spoke with one of the top Short Sale Trainers in the State and several attorneys and they all said that not only can realtors … (4 comments)
News for Roswell, Alpharetta, Canton, Johns Creek, Milton, Cumming, Duluth, Dunwoody, Marietta, Sandy Springs, Woodstock, Georgia about Neighborhoods and the GA Real Estate Market
Short Sale may be the best alternative if you cannot make your mortgage payments, or do not qualify for a modification or are just insolvent without resources. The Short Sale tax consequences need to be strategically planned in advance as they are a key consideration. Using Real Estate Agents and Tax Accountants to assist in making informed decisions could result in saving you thousands. The alternative may result in huge tax obligations that could have been resolved by some simple planning upfront.
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