The Short Sale Process: How To Avoid Delays

Short sales offer underwater homeowners an easier way out of trouble, but they don’t always proceed as smoothly as we like – this kind of transaction can take up to three months longer than a regular sale, and during that time there’s lots of potential for the deal to go sour.

SFR Investors To See Glut Of Highly Motivated Sellers As MDR Act Likely To Expire At Year’s End

The Mortgage Debt Relief Act is due to expire at Midnight, December 31, 2012. This means that distressed homeowners who are trying to complete a short sale or foreclosure will be liable for taxes on the amount of their loans which is forgiven – IF their transaction does not close by December 31st. There has

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Does A Short Sale Stop You From Getting A New Home Loan?

What is a short sale? Very simply, a short sale is when a mortgage lender agrees to accept less than the total amount of money they are owed on a piece of property in order to facilitate the sale of that property. This is done when the owners

Selling Your Home in a Flat Market

While there have been phenomenal buying opportunities over the past five years, these have come at a cost to sellers. Homeowners attempting to sell property that is not distressed in particular, have found it extremely difficult to compete with the flood of short sales and foreclosures on the market.

House For Sale – Using Creative Financing To Sell A Home That Won’t Sell

When my stepfather died back in 2007, he left my family with a rental house that he had owned for about 22 years. The tenants were an elderly couple that had once worked for my stepfather. They were paying $250 a month rent. He had given them a special deal on low rent as part

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The Professional Investors Secret: The Best Deals Aren’t Advertised

When it comes to investing in real estate, everyone knows that the internet has made it easier than ever to locate foreclosures, pre-foreclosures, short sales, and bank owned REO properties. Chances are your local Multiple Listing Service has hundreds of potential short sales and foreclosures listed at prices that are well below their original selling price prior to the housing market melt-down.

Short Sales Get Shorter

Short sales are set to speed up from the beginning of next month, with new FHFA guidelines set to come into force on June 15. Under the new guidelines, Fannie Mae and Freddie Mac will be required to give a final decision on any short sale within 60 days of the homeowner’s request.

Bank of America in $30,000 Short Sale Incentive

As part of its efforts to reduce the number of foreclosures on its books, the Bank of America is offering relocation payments of up to $30,000 to struggling homeowners to induce them to agree to a short sale.

Short Sales to Speed Up

Following a recent settlement with the state attorneys general, new short sale requirements are to be adopted by the largest five mortgage servicers in the US, in the expectation that these will speed up what has become quite a lengthy process.

Time Is Running Out For Avoiding Taxable Income On Your Foreclosure

It seems that the ultimate “insult-to-injury” scenario would be to lose your personal residence to foreclosure or a short sale, then find out that you owe taxes on the “income” you “received” as a result. But that is exactly what could happen to millions of homeowners who will face foreclosure or be forced into a short sale on their personal home after December 31, 2012.

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