Short Sales
Department Resources
- Why Invest In Foreclosures?
For many, the word foreclosure has a negative connotation. People think that the house is in bad condition and that the folks who lived in it were horrible people but more times than not, that’s not the case at all. Usually, the owners just fell on hard times and the houses actually are in decent [...]
Read More» - Do You Need To Attend A Short Sale Boot Camp or Seminar
The answer is no. This website gives you everything you need and much more than most of the so called short sale boot camps that cost $2,000 – $5,000. Take the time to go through my entire course and you will be blown away with the amount of content and how to information.
Read More» - What is a Short Sale defined
Understanding the Short Sale
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Short Sale: In real estate, a short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagee. - Short Sale Negotiation Companies
Their talk is good but their results don’t measure up! Here’s the sales pitch for using a loss mitigation company to handle your negotiations:
Read More» - Ways To Prevent Foreclosure
A short sale is one of many ways a homeowner can prevent a foreclosure. Whether you are an investor or homeowner faced with a foreclosure we believe you should know and understand all of your options. A short sale is often the best option available to the homeowner but knowing all options is in the [...]
Read More» - Types Of Real Estate Foreclosures
Foreclosure is the equitable proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner’s failure to comply with an agreement between the lender and borrower called a “mortgage” or “deed of trust.” Commonly, the violation of the mortgage is a default in [...]
Read More» - What Are The Tax Implications Of A Short Sale?
When doing a short sale the debtor may receive a form 1099-C for the amount of the lender’s losses. This is considered loan forgiveness in the eyes of the IRS and the lender may issue a form 1099-C.
Read More» - What Is A Deed In Lieu Of Foreclosure?
A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e., the borrower) conveys all interest in a real property to the mortgagee (i.e., the lender) to satisfy a loan that is in default and avoid foreclosure proceedings.
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The deed in lieu of foreclosure offers several advantages to the lender but is [...] - Bankruptcy Explained
Bankruptcy is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor (“involuntary bankruptcy”) in an effort to recoup a portion of what they are owed. In the majority of cases, however, bankruptcy is initiated by the debtor (a [...]
Read More» - Foreclosure vs. Bankruptcy
Which is worse: foreclosure or bankruptcy?
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Bankruptcy and foreclosure are both derogatory legal actions in the public record portion of a consumer’s credit report. As such, they will each have a significant impact on any person’s credit standing. How much either would impact your credit would depend on ALL the factors showing in your credit. You [...] - What Can An Investor Guarantee?
What Can An Investor Guarantee A Homeowner Facing Foreclosure That Wants To Do A Short Sale?
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Answer: Absolutely nothing! - What Can The Investor Legally Pay A Seller When Doing A Short Sale?
Nothing. If the seller is compensated in any way for doing a short sale you risk a felony conviction for mortgage fraud.
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Mortgage fraud is a term used to describe a broad variety of actions where the intent is to materially misrepresent information on a mortgage loan application, in order to obtain a loan or [...]