Foreclosures don’t just go away just by giving the lender back the property. Property owners who allow a property to go to foreclosure not only adversely affect their credit for up to 10 years but may have a deficiency judgment charged against them. This is a judgment that is placed against them by the lender [...]
More Foreclosure To Hit Depressed Market Housing analyst Larry Murphy of Las Vegas based SalesTraq said he’s talking to people in the industry who believe Las Vegas has yet to see the crest of the foreclosure wave. Hundreds
Insolvency and Avoiding Tax on an Investment Property If you can prove insolvency at the point immediately before the short sale of your investment property you will have NO tax to pay. Insolvency is when your total debts exceed your total ass
Obama Plan to give short sale home owner’s financial assistance For the next few months a $1,500 moving assistance payment (with guaranteed NO deficiency) will be available for people who do a short sale after a failed loan modification through
Are The Banks Breaking The Law? Diana Olick of CNBC has exposed an alleged practice by banks to recoup second mortgages by demanding cash, off the HUD settlement statements, from either real estate agents or the buyers in short sales. Olick say
