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Lenders Don't Play By The Same Rules In A Short Sale
Often banks agree to a sales price when they're presented with a contract, except they refuse to honor HOA fee's or back taxes owed. There lies the problems which continue to arise when dealing with a "Short Sale". I can't tell you how many times I've attached an addendum with our offer to the ...
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Deficiency Topic Dealing With A Short Sale Revealing Facts You Did Not Know
I was reading more about deficiency questions with short sales and I thought I would elaborate a little on the subject. When you get a lender to accept a short sale the amount of debt forgiven becomes a taxable event. Example: Homeowner owes $250,000 on a house. The lender accepts $170,000 for it. ...
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Short Sale: 10 Facts Bradenton Homeowners Absolutely Must Know
Negotiating a short sale between the borrower and the lender takes skill, patience, and expertise. Everyone involved in the transaction needs to know what to expect. This is one of a series of articles to help Bradenton - Sarasota, Florida homeowners understand short sales. It may help you as well. ...
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Master The Mechanics Of Foreclosure - The Key To Being Effective In Pre-Foreclosure Investing
To confidently compete in the pre-foreclosure arena, every investor must master the mechanics of foreclosure. The events of foreclosure, the timeframes, the disposition of the proceeds of sale, and the effects of the sale ? these are all important landmarks in navigating through the foreclosure ...
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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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Foreclosures And Short Sales
Attempting to do a short sale may be a challenge when there a foreclosures on homes with multiple mortgages. For example, there may be a situation where the foreclosing lender with the highest amount due is in the second place, and the second lien holder with a substantially lower amount is in ...
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The Successful Real Estate Foreclosure Investor's Secret Weapon Technique
We're all taking a hit to our wallets--gas prices, insurance rates, property taxes. These are just a few of the factors that are contributing to the record foreclosure rates our nation is facing. To put it into solid numbers, RealtyTrac says "1.2 million foreclosure filings were reported nationwide ...
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Short Sale 101
This occurs when the net proceeds from the sale of a home are not enough to cover the sellers' mortgage obligations and closing costs, such as property taxes, transfer taxes, and the real estate practitioner's commission. The seller is unwilling or unable to cover the difference. Some ? although by ...
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Foreign Buyers of Florida Real Estate
It was a bargain last year, and it's even much more of a bargain this year. For a European buyer, Florida is still a steal. In 2000, a Euro would only buy 85 cents per US dollar. Now, it's US$ 1.36 for each Euro. An increase of 60%. If one factors in the steady decline of Florida real estate prices ...
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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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