Header imageHeader image

If you are selling your home and it is not a short sale, say so on the listing. Because of the housing crash and foreclosure crisis, short sales have gotten a bad rap for taking too long to close. Banks are getting better about approving short sales, but it usually takes weeks or months, and, … Read more

, , ,

Tags: Florida Real Estate

Print This Post Email This Post

If your home is facing foreclosure and you were unable to sell your house in 2012, there is good news: The Mortgage Debt Relief Act was extended by Congress for another year as part of the legislation that prevented the nation from the “fiscal cliff.” This is especially good news to homeowners in South Florida, … Read more

, , , ,

Tags: Florida Real Estate

Print This Post Email This Post

Starting TODAY, for the first time ever, borrowers, in Florida and across the U.S., who have never missed a mortgage payment will be able to short sell their houses if they can demonstrate a hardship, such as loss of employment or the death of a spouse. This new rule will allow for underwater homeowners to … Read more

, , , , , , ,

Tags: Florida Real Estate

Print This Post Email This Post

If you are facing foreclosure or considering short-selling your home, you need to act FAST! The Mortgage Forgiveness Debt Relief Act of 2007 is set to expire December 31, 2012, just over two months from now. What does this mean? When you short-sell your home, you end up selling your house for less than the … Read more

, , ,

Tags: Florida Real Estate

Print This Post Email This Post

Since short sales can take months to process, homeowners considering a short sale may want to start the process sooner rather than later. If a bank writes off debt in a short sale, it’s a “taxable event,” and the lender tells the Internal Revenue Service about the deal by submitting a “Form 1099-C, Cancellation of … Read more

, , , , , ,

Tags: Florida Real Estate

Print This Post Email This Post

A local Jacksonville realtor came to us for our help with Client G who was about to lose their home if they did not close as soon as possible on short sale. As the closing agent and attorney for seller we were able to negotiate with the Bank to extend the closing date and drafted … Read more

, , , ,

Tags: Success and Results

Print This Post Email This Post

When a property is foreclosed or a short sale closed, the net sale price is applied toward the debt, but it doesn’t satisfy the entire obligation. The rest is usually either forgiven or written off. The number reported on the Form 1099 is the amount of the loan that was not repaid, not the total … Read more

, , , , , , , , , , ,

Tags: Debt Collection under Florida law | Florida Real Estate

Print This Post Email This Post

No kidding? Is there ANY type of fraud that does not occur in here? Here is another good article published in The Miami Herald about fraud in the short sale process. A recent report shows a new kind of mortgage fraud will likely grow as short sales become a part of the Florida real estate … Read more

, , ,

Tags: Florida Real Estate

Print This Post Email This Post

no