los angeles real estate news and information: Los Angeles Short Sales – Can I Short Sale My Silver Lake ?
- 06/25/12 01:05 AM
By now, the term “short sale” is part of the common vocabulary, but if you’re not sure exactly what that means, please read the post: What buyers and sellers should know about Los Angeles short sales. If you have been asking ‘Can I sell my Silver Lake home as a short sale”, read on! If you’re upside down, you’re not alone… So what constitutes a verifiable hardship? Read the rest of the article here: Jenny Durling, Broker213-215-4758Jenny@LApropertySolutions.com LA Property Solutions … (2 comments)
los angeles real estate news and information: What is HAFA and is it a benefit to me in short selling my Los Angeles Home?
- 05/27/12 11:50 AM
Yes, HAFA, or Home Affordable Foreclosure Alternatives, could be a benefit to you. HAFA was designed to help homeowners avoid foreclosure by allowing them to “sell short” or sign a Deed in Lieu of Foreclosure. According to MakingHomeAffordable.gov, the first benefit is that either of these options will have a lesser impact on your credit scores than will a foreclosure.A Deed in Lieu simply allows you to transfer title back to the bank without going through the foreclosure process. This is generally only allowed if you have no second mortgage.The second major benefit to HAFA is the avoidance of any possible deficiency after a short sale. … (4 comments)
los angeles real estate news and information: Underwater Homeowners’ Tax Safety Net to Vanish in 2013
- 05/15/12 01:22 AM
When Congress passed the Mortgage Tax Debt Relief Act in January of 2008 they created a “tax safety net” for underwater homeowners who were either foreclosed upon or who sold their homes as short sales. This act removed the tax consequences of having mortgage debt “forgiven” either through foreclosure or a short sale. Until then, any debt that a mortgage holder wrote off was subject to Federal Tax as “1099 Income.” The act provided a tremendous relief to home sellers in Los Angeles when their home values took such a dramatic tumble. Without it, underwater homeowners in Silver Lake, Echo … (4 comments)
Author Bio: Jenny Durling is a licensed CA real estate broker specializing in the Hollywood Hills, Los Feliz, Silver Lake, Echo Park, Eagle rock and east to Sierra Madre. Jenny Durling consults with buyers and seller on the purchase or sale of Los Angeles area real estate.
As a first-time home-buyer, Jenny was the perfect agent for me. She didn't put on any pressure, but had quick answers for all questions (and didn't ... more
5.0/5.0
by BSalve
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Jenny helped us find our first home. She has a very friendly and no nonsense style that we love. She stayed in touch with my wife while we thought ... more
By now, the term “short sale” is part of the common vocabulary, but if you’re not sure exactly what that means, please read the post: What buyers and sellers should know about Los Angeles short sales. If you have been asking ‘Can I sell my Silver Lake home as a short sale”, read on!
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