by Admin | Mar 25, 2009 | Advice on Selling with No Equity in Southern California, Bank Negotiations and Short Sales in Southern California, Bank of America, Countrywide, Government Bills, Regulations and other news affecting, How to Choose a Real Estate Agent when doing a Short Sale, Short Sales Stop Foreclosure
Well, I guess “No Hope for Homeowners” would be the appropriate response to the program developed by the Bush Administration to help Americans facing the loss of their homes from rising monthly payments and declining values. In a report by CNN, Brian... by Admin | Mar 23, 2009 | Advice on Selling with No Equity in Southern California, American Home Mortgage, Bank Negotiations and Short Sales in Southern California, Bank of America, Loan Modifications, Short Sales Stop Foreclosure, Understand Obama's Help for Homeowners
The answer is maybe. Under “The Mortgage Forgiveness Debt Relief Act of 2007,” taxes that would be owed on monies un-recovered in a foreclosure or a short sale are “forgiven” if you fall into the parameters stated by the Internal Revenue... by Admin | Mar 18, 2009 | American Home Mortgage, Bank Negotiations and Short Sales in Southern California, How to Choose a Real Estate Agent when doing a Short Sale, Loan Modifications, Short Sales Stop Foreclosure
By your question, I would think that your best option is a Short Sale. In a short sale, you/your real estate agent is asking the mortgage or lien holder to accept less than what is owed on the property. There are a few ramifications such as: A credit rating hit,... by Admin | Mar 18, 2009 | How to Choose a Real Estate Agent when doing a Short Sale, Loan Modifications
The answer is yes, if your state recognizes the deficiency judgment as it pertains to a mortgage deficiency. There are specific events that must occur prior to a deficiency judgement. The mortgage holder of the deficient mortgage must request a judgment from the... by Admin | Mar 18, 2009 | Advice on Selling with No Equity in Southern California, American Home Mortgage, Bank of America, Short Sales Stop Foreclosure
Yes. A property may be sold while the owner is in bankruptcy. I have first hand experience with similar scenarios and have successfully closed real estate short sale transactions while the owners were in the bankruptcy process. The property will have to be removed...
