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Get Free Foreclosure Advice In Minutes
Get your free on-line foreclosure refinance quote and foreclosure help in minutes. Explore your options and compare ways to prevent foreclosure... more...
Mortgage Forgiveness Act Provides Income Tax Relief To Foreclosed Homeowners
What's positive about being foreclosed upon or selling your home for less than you owe? Well, for most people, not much. Yes, you are relieved of an onerous mortgage loan and you are now free to find housing that is more affordable within your budget. But not everyone fully understands the ...
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What the Mortgage Forgiveness Debt Relief Act Means For You
On December 20, President Bush signed a law that is meant to help homeowners who are facing foreclosure or who sell their homes in a short sale. Before this law, the Mortgage Forgiveness Debt Relief Act of 2007, if your bank or lender forgave a portion of your mortgage debt because the value of ...
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Selling at a Short Sale and the Possibility of Getting a 1099 Income Statement
When homeowners attempt to sell their house for less than the total amount they owe on it, certain tax liabilities may be triggered. This is one of the reasons that every foreclosure victim should carefully consider whether selling their house short is the right decision for them, and what other ...
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Short Sales - Will You Have to Pay Income Tax?
Many people will be bewildered by that question. Who ever heard of paying income tax even when you sell you home for a loss? Well, the IRS has a little known habit of charging people income tax on debt that they were responsible for paying and were relieved of that responsibility. This could have ...
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Proven Foreclosure Buying Techniques
Foreclosure Buying Does the thought of Foreclosure buying interest you? Well foreclosure buying is becoming an increasingly popular investment trend. This isn't your average fix it and flip. I'm talking about REO or Real Estate Owned Property. Real Estate Owned property come with their taxes and ...
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What is a Short Sale?
Since the real estate market turned for the worst, a lot of Borrowers have found themselves in a position where they owe more than their home is worth. As long as you don't need to sell your home and as long as you can afford the payments, your best bet it to sit tight and do nothing. Eventually ...
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Stop Foreclosure - Are Short Sales the Way to Go?
If you are facing foreclosure, then you have seen the ads for short sales. Real estate agents all over the country are jumping on the short sale bandwagon. However, most are not experienced in short sales and their advice on complicated legal and tax issues can be dangerous for you. What is a short ...
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Lenders Give Away Instant Equity With Real Estate Short Sales
What is a Short Sale? A short sale happens when a lender is willing to sell a property for less than the total amount owed by the borrower. The property is worth less than owed therefore, has no equity and the homeowner is seriously behind in payments. In many circumstances more than one lender is ...
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Is There Anyone Who Is Not Worried About The Sub Prime Mortgage Lending Meltdown?
Well according to some so-called facts appearing in a recent New York Times article (by B. Stein), that meltdown is just is not happening. It is all a mass hallucination experienced by a falsely alarmed and grossly misinformed public. The article declares that of the ten-plus trillion dollars in ...
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HR 1876 May Give Homeowners in Foreclosure A Much Needed Tax Break
Homeowners facing foreclosure in California have approximately 120 days from the Notice of Default (about 4 months) in order to resolve their outstanding mortgage debt. When a homeowner finds themselves in this situation, the most proactive step a homeowner can do is to act in a timely manner to ...
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