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What are the Tax Implications from a Short Sale
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...
Do You Qualify for a Short Sale Transaction
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...
Frequently Asked Questions about Short Sales
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...
The Short Sale Process
The Short Sale Process begins when you sign a listing agreement to list your home for sale. At this time, your real estate agent will collect a number of personal documents that will be sent to your mortgage lender as part of a short sale...
Why Do a Short Sale?
Many borrowers wonder, “Why bother with a short sale? Shouldn’t I just let my property go to foreclosure?” – In most cases, the answer is ‘no.’ A short sale is a much better alternative to foreclosure or a deed-in-lieu of foreclosure because a short sale is...
What Is a Short Sale?
GENERAL INFORMATION Mortgage default is occurring in record numbers in San Diego County, particularly in Escondido, San Marcos, Vista, Oceanside, Carlsbad, Encinitas, Fallbrook, and Valley Center. A significant percentage of California borrowers are behind...
Household Items You Should Always Buy Used
Flea markets, garage sales, and thrift shops are always great places to find something unique and useful for your home for a fraction of a price. However, there are some things that are a no-no to buy used, but certainly, there are some that are still worth giving a...
How to Save Energy During the Summer
Summer can be an expensive time of year for your utilities. Aside from turning off appliances, lights, etc when not in use, there are other things you can do to save a few bucks on your electric bill during the hot summer months. That said, we thought of sharing with...
What Are the Tax Consequences of Selling a House?
At Broadpoint Properties, we’re in the business of managing and selling properties, particularly those in San Diego and Riverside Counties. And, one of the most common questions that we get asked by sellers is this one: “What are the tax consequences of selling a...