Frequently Asked Questions On Short Sales…Empowering Information Part 2

The “Longer Version” of “Short Sales” part 2… “Short Sales” can be difficult to complete and are quite confusing for buyers and sellers…Here are 10 important points for you to understand: 1.] All people on the title must sign the sellers package. 2.] A hardship must be demonstrated for the lender to accept a “Short…

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Short Sales & Frequent Questions…Empowering Information!

The “Longer Version” of “Short Sales” Part One… When I meet with a client for the first time who is considering loan modification, one of the first things I ask them is about their hardship and their current financial situation. We evaluate their position and ascertain whether they really want to stay in their home…

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The “Short Version” of Short Sales…

There is so much confusion and outright misinformation in the market place with regards to “loan modification”, “short sales”, and “foreclosure”. It is amazing the lack of education the public is receiving.  I am going to briefly layout some concepts to clear up some misinformation. Let me first make it very clear that this is…

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Empower Your Assets…Your Interest In Real Property

Imagine a creditor attempting to find out how much disposable money you have access to. Other assets such as copies of deeds, along with financial evidence such as taxes on real property paid are public records that anyone can look up at the county courthouse. Sometimes even appraisers keep records that include the layout of…

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Short Sales And Tax Implications

If you are considering a real estate short sale of your home, be prepared to receive a form 1099-C for the amount of the lender’s losses. In the eyes of the IRS, this is considered “loan forgiveness”. You may be responsible to pay ordinary taxes on the amount of the 1099-C. If you settle a…

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Short Sale…Is There An Upside?

In this day of real estate market crashes and you owe more than what your home is valued at, you might qualify for a legal, lender approved solution known as a Short Sale. This can be accomplished by negotiating with your lender to accept a sale of your property to a third party for less…

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The Young and Empowered Real Estate Investor

Today’s young and Empowered real estate investor’s are very internet savvy. Some refer tho them as “Internet Empowered Consumers” (IEC). This group, born no earlier than the 1980’s are also known as “Generation Y”. They have a different mind set than older generations. They were born and raised on computers and the internet. They do…

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Time to Buy…Housing Market at Historic Lows…

With the current contraction in our global economy spurned by the housing bubble, housing prices are at 10 year lows. Mortgage rates have fallen to rates we have not seen in over a decade. Currently, there is an incentive plan for first time buyers (individuals who have not owned a house within last three years)…

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Profit From Foreclosures Part 2

In my last post we discussed how the single biggest advantage associated with REO’s is the fact that equity can be created instantly either by finding a hot deal or through shrewd negotiation. There is no one telling the bank that they owe too much on a property and can’t lower the price. We discussed…

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