short sale: It shouldn't take this long!
- 06/11/09 12:55 PM
OK I have been working on a deal. I have the buyer and they wrote up a contract for a home in Coral Springs. Things were great. The have great credit, he is a federal agent and other things. It took us a while to find the right house as you are aware from previous post. But once we found the right house it was smooth sailing. I was there for the inspection, since they are in another state. I sent the file to the title company and to the Mortgage broker. The house was no short sale or foreclosure. It … (9 comments)
short sale: The Mortgage Debt Relief Act of 2007 ~ Most Asked Questions
- 04/02/09 02:46 AM
Many people ask me when I go on a Short Sale listing appointment whether or not they have to pay taxes on the amount forgiven on there Mortgage. Here are some answers to some of those questions: The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible … (7 comments)
short sale: Finally an Approval Letter
- 11/19/08 05:38 AM
I have a listing for a short sale in Plantation, Fl. I have had it under contract now since early September. It has taken this long to get an aprroval letter. Going back and forth with the bank is gruesome to say the least. Every time you call the bank you get someone else. You finally get a negioator but you don't have direct contact with this person till after about 14 days after they get the contract. Then they order the BPO, so they can't talk to you till after that comes in. Then they can't tell you anything till … (3 comments)
OK I have been working on a deal. I have the buyer and they wrote up a contract for a home in Coral Springs. Things were great. The have great credit, he is a federal agent and other things.
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