Posts Tagged ‘short sale’
Can New Short Sale Program Help YOU?
Short sales have become part of the real estate landscape, and as one in four homeowners are underwater nationwide, they will likely continue to stay there for some time. Lenders have finally accepted this and have been trying to implement new programs to make them a better choice than foreclosures. For the most part, they…
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Will the Short Sale Tax Break Be Extended?
It is almost here: the dreaded end of the federal short sale tax breaks, also known as the Mortgage Forgiveness Debt Relief Act. Come December 31, sellers who have not yet closed escrow on their short sales will no longer escape the capital gains tax on the difference between the sales price (of their home…
Read MoreWarning for Short Sale Sellers Who Don’t Qualify for HAFA
Experience pays off, especially with short sales. If you are trying to short sell your home, but were denied money back under the HAFA program, be advised of this warning to avoid problems down the road when you are ready to close: your agent needs to make sure that the bank negotiator changes the status…
Read MoreAnother Way to Avoid Federal Taxation on Short Sales
Are you thinking about short selling your home, but worry about possible tax consequences if it does not close by December 31 (the end of homeowner tax relief under the Mortgage Forgiveness Debt Relief Act)? You may be in luck, even if the Act is not extended. The Mortgage Forgiveness Debt Relief Act (MFDRA), which…
Read MoreFree Homeowner Short Sale Seminar Wednesday in Carlsbad
If you have ever considered a short sale, or would like to learn more about how they work, I have the seminar for you…and it’s free! Shortsaleopedia and I have collaborated to hold monthly seminars to help homeowners in San Diego, and the next one is this Wednesday, March 14, from 6:00-8:00 p.m. at the…
Read MoreHow to Win With Short Sales
Short sales are everywhere, and they are not going away. I am always surprised to hear agents say they won’t list or show short sales to their clients, because not only do I think that is a disservice in our industry, but also because I think closing a short sale is one of the most…
Read MoreThinking About a Short Sale? You Better Hurry
Are you thinking about short selling your home? Are you underwater (owe more on your mortgage than the current market value of your home)? If you have ever or are considering a short sale, your days are numbered. The Mortgage Forgiveness Debt Relief Act, that wonderful little piece of legislation passed in 2007 to protect…
Read MoreHow Do I Buy a Foreclosure?
I have had several clients recently ask how to purchase a foreclosure property, and it is a great question. Oftentimes buyers do not differentiate between the purchase of a foreclosure, a pre-foreclosure, and a post-foreclosure. Let’s take a look at the different ways to purchase property in various stages of foreclosure: 1. Auction (the one…
Read MoreIs Lender Short Sale Cooperation Increasing?
Could it be that lenders are starting to cooperate more with short sales? And if so, what does that mean to sellers and buyers? Might short sales get easier and speedier, thereby ridding many markets of distressed inventory and putting them on the road to recovery? This may sound too good to be true, but…
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