Archive for the 'Foreclosures & Short Sales' Category
Are you involved in a Short Sale SCAM?
Are you involved in a Short Sale SCAM?
If you know me, you know that I rarely get so passionate about something that I need to spread the news… however, THIS is an exception and needs to be understood so you don’t get caught up in a Short Sale Scam!
The opinion below is from the Washington […]
Federal Laws, Tenant Occupancy & Foreclosures…
Here’s a great tidbit from the Washington Association of REALTORS® legal hotline regarding federal laws, tenants & foreclosures….
Question:
Are there new state and/or federal laws affecting tenant occupancy of rental property after a foreclosure sale?
Answer:
Yes. Both Washington State and the United States recently created new law addressing a tenant’s right to retain occupancy of housing […]
Deficiency Judgments, Foreclosures & Short Sales…
Here’s one of the more recent questions from the Washington Association of REALTORS® legal hotline. The deficiency judgment seems to be a hot topic again lately.. and another reason why you should seek an experienced agent for your short sale situation.
QUESTION:
When can a lender take a deficiency […]
Read More..>>New Trends in Short Sales
I am a frequent reader of the Washington Association of REALTORS® legal hotline. This is a great question and really reflects the trends that we are seeing in today’s short sale transactions… This is also another GREAT reason why you need an agent who is experienced in dealing with short sales!
Question:
Despite negotiations by seller’s lawyer with […]
Lease/option or lease/purchase? Does your bank care?
I am a frequent reader of the Washington Association of REALTORS legal hotline. This week was a great question and a conversation I seem to be having more & more often with sellers and/or potential landlords. I hope this sheds some light on what you should consider before even thinking about entering into a lease/option […]
Read More..>>Mortgage Debt Forgiveness
Mortgage Debt Forgiveness
If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income.
Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to […]
‘Making Home Affordable’ Program
Making Home Affordable
Homeowners were lent a hand this week by the Obama Administration’s newest effort to help families remain in their homes. The ‘Making Home Affordable’ program was created to help as many as 9 million homeowners who want to stay in their homes, but are struggling with their finances.
As with most legislation […]
President Obama’s Foreclosure Plan - Summary
Homeowner Affordability and Stability Plan
President Obama has unveiled details of a foreclosure prevention plan designed to help 7 to 9 million responsible homeowners afford their mortgage payments. March 4 has been designated as the official roll out date for the program. The plan has three main components:
1. A refinancing program for borrowers who are current […]
Read More..>>REET & Short Sales. WHAT!?!
REET & Short Sales. WHAT!?! by Jen Hudson, GRI
There’s a major news alert that could drastically affect short sales and your ability to get your home sold prior to foreclosure. This is an important piece of information and you’ll probably never hear it in the media.
First, let’s clarify that a short sale happens when a […]
Not What You Thought? Considerations You MUST Make Before Investing.
Not what you first thought? Considerations you MUST make before investing.
Investing in real estate can certainly be a lucrative investment, but only when done right! The flip side of that is that it can also turn out to be not only a financial nightmare but a huge burden emotionally when done wrong.
Before you even start […]