Short Sale

A short sale is when you sell a home for less than what the home owner owes on the mortgage. The mortgage lender agrees to forgive the difference and the home owner gets a chance to sell a home that he may no longer be able to afford. Short sales have become more common since the financial crisis of 2008.

What to Expect When Buying a Short Sale Home

When buying a short sale home, you should know what to expect. If you’re having issues with buying a short sale, you can file a complaint. By: Ilyce Glink and Samuel Tamkin Q: We have been trying to buy a …

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When Can I Refinance After a Short Sale?

Knowing when you can refinance after a short sale is crucial. Generally you will wait two to three years before getting a new loan approved. By: Ilyce Glink and Samuel Tamkin Q: Thanks for all the good information you provide. …

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Selling House as a Short Sale with Two Lenders

Selling your house as a short sale with two lenders can be complicated if your two lenders disagree about the true value of the property. By: Ilyce Glink and Samuel Tamkin Q: I have a question regarding a short sale. …

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My Home Value has Declined and I Don’t Want to Pay My Mortgage Anymore

If your home value has declined and you don’t want to pay your mortgage anymore, try to sell your home in a short sale. By: Ilyce Glink and Samuel Tamkin Q: I am single and live in a home in …

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Buying a Short Sale Property: Paying More Than House Is Worth

When buying a short sale property, paying more than the house is worth is up to you. The lender can ask for more, but you don’t have to agree. By: Ilyce Glink and Samuel Tamkin Q: I listen to your …

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Should I Short Sale My House Or Foreclose?

Should I short sale my house or foreclose? If you’re underwater, short sale is one option where you can sell your home for less than it’s worth. By: Ilyce Glink and Samuel Tamkin Q: We live in Clayton County, Georgia, …

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Loan Modification Process | What to Do if You’re Rejected

The loan modification process can be very frustrating. If your loan modification is rejected, consider selling your house in a short sale. Q: We are currently underwater on our primary home mortgage. Our mortgage has been modified twice and all …

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Getting a New Mortgage After Short Sale or Foreclosure

Getting a new mortgage after a short sale or foreclosure is now possible for many Americans who lost their homes during the housing crisis. Even if you’ve gone through a foreclosure or a short sale, you can still buy a home. Here’s …

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How to Avoid Paying Taxes on Forgiven Mortgage Debt

Ilyce Glink explains how to avoid paying taxes on forgiven mortgage debt if you’ve done a foreclosure or short sale in Real Estate Minutes. If you go into foreclosure or complete a short sale, you could wind up owing tens …

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Selling Your Home in a Short Sale: Is a Short Sale Worth it?

Selling you home in a short sale: Is a short sale worth it? A short sale can affect your credit, but you get a break from the IRS in 2013. Q: Our daughter and son-in-law are looking into using a …

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