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
If your home is NOT a Short Sale, Say So!
Posted on March 25, 2013 byTags: Florida Real Estate
Mortgage Debt Relief Act Extended
Posted on January 9, 2013 byIf 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
Short Sales for Non-Delinquent Borrowers in Florida and Across the U.S.
Posted on November 1, 2012 byStarting 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
Last Chance for Short Sale Tax Breaks
Posted on October 22, 2012 byIf 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
Short sale sellers should think about closing in 2012
Posted on February 15, 2012 bySince 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
Clients almost lose their home until Boyer Law successfully closes on the short sale
Posted on November 15, 2011 byA 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
What a 1099 Form Means in a Short Sale or Foreclosure?
Posted on August 9, 2011 byWhen 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
Short Sales leave margin for Fraud in Florida
Posted on September 21, 2010 byNo 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
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