Archive for the 'Short Sales' Category

Short Sales, The IRS, Forgiven Debt, and Income Tax Exemptions

Homeowners who sell their homes through a short sale are often very concerned about the tax implications of the sale. The bank, by forgiving a portion of the debt, is then responsible for reporting the forgiven amount to the IRS as income to the borrowers. At tax time, the former homeowners are responsible for including […]

Alternatives To A Short Sale When You’re In Foreclosure

If you are facing foreclosure and looking for a solution you may have thought about doing a short sale on your home.  Right now short sale investors are thriving in today’s current market because of how many people in foreclosure resort to using them.  But before you consider a short sale there are several other […]

Why Not To Give Your Home Up To Foreclosure

Plenty of people are having financial difficulties now and think that giving up their home and accepting a foreclosure is the easiest way out.  I hear people say all the time, I don’t care about my credit, my house is being foreclosed on, and I’m just going to let it go.  They say this without […]

Stop Foreclose Before Its Too Late

The main key to stopping foreclosure is all about timing and not delaying or ignoring the problem.  There are dozens of ways to stop foreclosure, it’s all about what stage you are with the process and which option will work best for your situation.  If you are about to or have missed a mortgage payment, […]

Step-By-Step Guide On Getting A Short Sale Approved When Facing Foreclosure

If you are trying to stop foreclosure, you may have decided to try and do a short sale on your home.  A short sale is where you make a request of to your lender, to sell you home at a price that is less than what you owe on the mortgage.  Lenders usually agree to […]

Homeowners Still Owing Money After Foreclosure

A question I hear a lot is if homeowners will still owe money to the bank or government after foreclosure or short sale.  This really all depends on how successful the short sale or auction was and how much their home sold for verses how much they owed on it.  Even though the agreement is […]

Foreclosure Vs Short Sale

Foreclosure happens when a homeowner cannot meet their monthly mortgage payments.  After missing a couple of consecutive payments to your lender, they will begin the foreclosure process on you.  There are many options available to homeowners to try and use to stop foreclosure.  Today we area going to look at the short sale option and […]

How do I purchase a foreclosure property??

Purchasing a foreclosure process is just that, a process. If you can get a great deal on a property, it is well-worth ths process you have to go through. You most likely will receive no warranties or representations on the property you are buying, meaning no property disclosures, guarantee of title chain, etc. You may […]

Pre-Foreclosure Sale-The Pros and Cons

If you are facing foreclosure, then you are likely looking into options to get out of it.  One you may have seriously considered is doing a pre-foreclosure sale on your home.  If you are still in the early foreclosure stages then this is something to seriously consider.  A pre-foreclosure is when you sell your home […]

Learn About Short Sales

A short sale is when the lender on a property will accept less than the full amount due on their loan when the property is sold.  You will find people and banks who are trying to avoid foreclosure on a home accept a short sale offer.  Most lenders will accept a lower dollar amount because […]

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