nh short sale: Knowing your tax ramifications from Massachusetts or New Hampshire Short Sales
- 01/12/11 02:19 PM
I had the excellent pleasure today to interview Joe Craft, CPA about the tax liabilities for short sales. Joe is an amazing accountant and our personal accountant at Short Sale Mitigation, LLC and Rapid Property Relief, LLC. We felt it was important for homeowners to get this timely and valuable information as many 1099C’s are being generated this month and will affect certain homeowner’s tax returns. Short sales are risky and scary for most homeowners, but being armed with valuable information regarding all possible outcomes usually sets homeowner’s minds at ease. The alternative is far more devastating than the risk of … (1 comments)
nh short sale: Bankruptcy and Short Sales in Massachusetts and New Hampshire. How does bankruptcy affect your short sale? Interview with attorney
- 10/23/10 02:41 PM
We have done enough short sales to see our fair share of bankruptcies occur. There is an impact to a homeowner’s credit and their short sale if they file bankruptcy. Homeowner’s in need of filing need to speak to an experienced attorney if they are considering bankruptcy as an option to stall a foreclosure or capture their deficiency from a short sale. I would even suggest they find a bankruptcy attorney that also specializes in Real Estate. Rapid Property Relief, LLC works with several experienced attorneys. When we meet with homeowners facing foreclosure or with mounting debt, we always refer our … (0 comments)
nh short sale: Deficiency vs. Deficiency Judgment in Short Sales and Foreclosures for New Hampshire and Massachusetts Homeowners
- 10/15/10 04:44 AM
People misunderstand the terms deficiency and deficiency judgment when explaining the risks in short sales or foreclosure actions. It is easy to do. Short sales and foreclosures are confusing for most homeowners. Even after explaining the potential outcomes of a short sale or foreclosure in Massachusetts or New Hampshire homeowners still are overwhelmed. Do not confuse deficiency and deficiency judgment. They are two separate terms. In short sales, if a short sale is negotiated a lender may refuse to release the deficient portion of the note. So for example, a home that has a note of $200,000 for which a buyer … (0 comments)
nh short sale: How to Write a Successful Short Sale Hardship Letter - Massachusetts - New Hampshire
- 10/14/10 04:25 AM
Short sales are a mishmash of paperwork, time, anxiety and questions, and one of the biggest questions I receive from Massachusetts and New Hampshire homeowners wanting to short sale their home is, "What do I write in my hardship letter to the lender?" This is a simple question to answer, but the details of most hardships are never simple for a homeowner facing foreclosure. Assuming you truly have a hardship and are just not "walking away" from your home, what I tell homeowners to write is this: Explain to your lender what circumstances from the time you took out your loan until now, … (6 comments)
nh short sale: How to do or start a short sale in Massachusetts or New Hampshire
- 08/11/10 01:39 PM
How to Do a Short Sale in Massachusetts or New Hampshire One thing I'm constantly asked by homeowners is how can they short sale their property? I wish this was an easy question to answer, but there are many variables that affect a homeowner who is underwater with their mortgage. First, what Massachusetts and New Hampshire homeowners should know is that those states are recourse states. What this means is the lender CAN pursue a homeowner for any deficient amount. The deficient amount is the amount that the homeowner owes minus what the lender sells the house for at auction or … (0 comments)
My company is a pre-foreclosure acquisition company. We specialize in the purchase, negotiation and resale of short sales in New Hampshire and Massachusetts. Short sales can be a great way for homeowners to avoid foreclosure. We resell the property we take title too, so our disclosures are very specific. Most homeowners and purchasers are required by most lenders to sign an arms length transaction. I will explain that more in a minute, but because we are investors we seem to fall under watchful eyes more than … (0 comments)
nh short sale: New Hampshire and Massachusetts Homeowners should know the risks of short sales
- 07/28/10 06:01 AM
In June 2010 there were over 848 auction notices given to homeowners in New Hampshire and the number of advertised auction notices in Massachusetts more than doubled to reach 2,858 in May 2010 compared to 1,378 during the same month last year. A total of 13,969 auction notices from January through May were published. The above information from the Warren Group, represents a 139.7 percent jump from 5,828 during the same five months in 2009 in Massachusetts. New Hampshire statistics were reported by Real Data. If you are a homeowner in Massachusetts or New Hampshire and are considering a short sale, … (0 comments)
We are a third party short sale negotiation company working for homeowners in Massachusetts and New Hampshire.
Started by broker Nick Aalerud, we have grown to have three full time negotiators, and three teams of lawyers assisting sellers, buyers, agents etc.
Our blog serves as information for homeowners, and agents in New Hampshire and Massachusetts considering a short sale.
I had the excellent pleasure today to interview Joe Craft, CPA about the tax liabilities for short sales. Joe is an amazing accountant and our personal accountant at Short Sale Mitigation, LLC and Rapid Property Relief, LLC. We felt it was important for homeowners to get this timely and valuable information as many 1099C’s are being generated this month and will affect certain homeowner’s tax returns.
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