The California real estate market is sizzling and continues to sizzle… As we all see with the influx of tech companies in the area, low inventory is prevalent and prices continue to increase. Prices are increasing, which makes it challenging for first-time home...
How Will a Short Sale Affect My Credit Score? Borrowers often ask, “How Will a Short Sale Affect My Credit?” An individual’s credit rating affects their ability to obtain financing and obtains favorable rates. FICO, the Fair Isaac Corporation, is the most widely used...
Tax Implications Borrowers are often concerned about the tax consequences of a short sale. This is because, up until fairly recently, mortgage debt on a primary residence that was forgiven from a Short Sale or Foreclosure could be counted as “taxable income” by...
Many people wonder why the bank would allow them to participate in a short sale transaction.Can anyone short sale their property? In all short sales, the bank must assure that the borrower qualifies for the transaction. Most mortgage lenders will allow a Short Sale...
Frequently Asked Questions about Short Sales Here are the answers to the most Frequently Asked Questions about Short Sales: 1. I can’t make my house payments, but I do have an ability to pay back all or part of the negative equity. Also, I want to preserve my credit...
