Short Sales Important Update: The Mortgage Debt Relief Act of 2007 will expire at the end of 2012. What this means is that Short sale sellers will be getting sent a 1099 for their shortages starting Jan 1, 2013 if this bill is not extended. Considering some short sales take a year to close, I'd get it listed NOW if you are thinking about short selling!
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Hill Realty - Bryant, AR
Vicki, I love the picture and caption. I have my first short sale so I have been reading a lot of information about short sales and the best way to work with your client. Unfortunately, I think a lot of Sellers who are near foreclosure think a short sale is going to be the answer to their prayers. The bottom line is that unless it is an incredible deal, why would a Buyer want to pursue a short sale when there are so many other opportunities on the market.
Jan 25, 2012 09:07 AM
Rainmaker
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Vicki Watzlawick
Illinois Foreclosure Expert, The Watz Team
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