Archive for September, 2009

A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.
Myth #1 – The [...]

By Robert Freedman, Senior Editor, Realtor Magazine| April 2009
In addition to educating yourself on the ins and outs of these complex deals, you also need a good picture of the legal risks that exist for you.
1. Misrepresenting tax consequences.
Although it’s true that the federal government passed a law in 2007 directing the IRS not to [...]

Simply put, the owners of a property owe more on the property than its open market value.  And usually the Sellers are heading towards foreclosure because there is financial hardship so they are unable to keep up with the mortgage payments.
The property is listed for sale with a Real Estate Agent even though the asking price is [...]

Excerpt from… “The Big Score – Getting and Keeping It”
by Linda Ferrari, President Credit Resource Corp.
One of the nations top authorities on credit scoring issues and remediation.

What is a short sale and how can it affect my credit?
What about a Deed in Lieu of Foreclosure?
Is it better to file for a bankruptcy or to [...]

This debate is racing across our nation. It is one of the questions I am asked the most, “Should I let my house go into foreclosure or should I do a short sale?” Everyone seems to understand a foreclosure will not only demolish their credit score , but it will also ruin their chance of [...]