Posts Tagged ‘Home’

How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances

• ISBN13: 9780071635585
• Condition: NEW
• Notes: Brand New from Publisher. No Remainder Mark.

Don’t lose your ho me to foreclosure! Do a short sale! Robert Irwin, one of America’s most trusted real estate experts, provides the tools you need to avoid foreclosure—and protect your credit, your wealth, and your peace of mind. How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances removes the complications and stress often associated with short selling a property. Using real-life success stories, Irwin explains how a short sale works and

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The Realtor and Home Owner’s Guide to Short Sales: Step by Step

The How To Guide for Real Estate Short Sales. Across the country, Americans are behind in their mortgage payments and foreclosures are at an all time high. Declining home values have left many home owners unable to sell their homes because they owe more than the homes are worth. There is hope, however. A prcess known as the “Short Sale” is allowing home owners to get out from under their mortgages without bringing money to settlement. Best selling author, speaker and real estate broker,

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BUY this BOOK and SELL your House or Condo

THE ONLY Real Estate BOOK you’ll need!

HOW TO SELL YOUR HOUSE in THE 2008 market!

FREE DAILY UPDATES on my website with book password A NO-NONSENSE guide with FACTS and NO filler pages This is a HOUSING EMERGENCY! – Get HELP to “STOP THE BLEEDING!”

A GREAT BOOK for EXPERIENCED and FIRST TIME home SELLERS I get RIGHT TO IT about:
* INTERNET MARKETING
* THE BEST TIME TO SELLMore >>

Selling Your House/Condo in this HOUSING EMERGENCY of 2008 – A Guide to Selling Your Home Now

What is a short sale and is it something I should consider?

That is a question that I get a lot from sellers looking for short sale information.  I tell them the basic definition of a short sale “A property that is sold ’short’ of what is owed on it.”.  The chief issue being whether or not the lenders involved will accept the this transaction or seek to pursue an alternate remedy to the situation (like foreclosure or going to court for a monetary judgement).

The best thing to do is ask questions.  Ask your real estate agent, ask your accountant, ask your lawyer, ask your banker and finally ask yourself if this is something that you need to do.  This site (www.HomeAndPropertySolutions.com) is a great resource to find answers on and to get a whole bunch of short sale information.  A perfect place to start answering that question and when you are set to move forward, it is a great place to find an agent who is an expert in this area (no matter where you live in the US).

Browse around, use the search and remember that you can never ask too many questions when it comes to doing a short sale and how it will affect your credit and ability to purchase in the future.

I hope this helps!

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A National Epidemic Is Looming. Are You Ready?
Are you stressed out about mortgage payments? Do
you think your only option is a foreclosure? Is a short sale right for you? Millions and millions of
homeowners are asking themselves the same questions. It is projected that over 20,000,000
homeowners will have negative equity in their homes in the very near future. In other words, they will owemore on their homes than they are worth. Over 2.9 million hom… More >>

SHOULD I SHORT SALE MY HOME

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SHORT SALE FORECLOSURE GUIDE… More >>

Should I Short Sale My Home?

I recently got this question from a client of mine that was in this very situation.  House upside down with a loan to value difference close to $100k and wanted to avoid a foreclosure.  We got her house listed, and got a full priced buyer.  The bank approved the short sale (and a check to the seller at close as well BTW) and everything was set to go.  Then the question came up.  How will this affect my SSI payment?

No one I talked to knew this answer so I got on the phone with the good old US government and the nice people at the Social Security Department and guess what?  It turns out that a short sale has no affect on regular social security payment, HOWEVER, IT DOES AFFECT SSI.  As a matter of fact, in the year that the 1099-c is issued for the forgiven debt (even though there is no ACTUAL income and it is exempt from federal tax consequences on an owner occupied home), it will count against them for SSI eligibility in regards to the financial limits required to qualify.  What does that mean?

Well it means no short sale for this client and welcome to one more foreclosure in America.

There are a few home in the pre-foreclosure stage in my neighborhood. 2 are short sales. I’m just interested in timeframes.

What happens if a home doesn’t sell in a short sale? How long does the lender give the borrower? Does the borrower need to vacate the property during a short sale?

Thanks!

I lived in the home for 2 years and then rented it out for over a year now. Can I still claim this home as my principal residence so that if I sell as s short sale, I don’t have to pay taxes on forgiven debt?

If you are already in the process of bankruptcy can you still do a short sale on your home? This was the banks idea? Just curious?