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...
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 package. There are several...
Are you thinking of selling your home? If you are thinking about selling your home, it’s a good idea to spend some time preparing it for sale. In doing this, you can increase the amount of money you get once you put it on the market. Check out these 5 steps to get...
Last year mother nature was not kind to California as wildfires broke out throughout our state. Sadly, it was the most destructive wildfire season on record which saw multiple wildfires burning across California. The homes that burn during the wildfire aren’t kindled...
