Short Sale
Short Sale With Multiple Mortgages
Q: I have a second and third mortgage on my house. Can the lenders of my second and third mortgage foreclose on my house even if I make all my payments to my first mortgage lender in timely manner? Is …
Short Sale Income and IRS form 1099-C
Sell a home in a short sale. You may have to pay taxes on the sale even if you lost money and may receive an IRS form 1099c Q: I formerly financed a property in Denver, Colorado that successfully underwent …
Selling Home For New Job May Require A Short Sale
While you may want to just mail your keys to your lender and move on to a new job, you may need to short sell your home first or have the lender agree to a deed-in-lieu of foreclosure. Q: We …
Short Sale Process Is Hell For Many
Sellers trying short sell their homes find that lenders the biggest obstacle to closing the deals. Filing a consumer complaint may help. Q: I am having a horrible time dealing with my mortgage lender (one of the big five that …
Short Sale Approval Not Possible With Lender
Some lenders are harder to get to approve a short sale. If you are having trouble, here are some ways to get your short sale approved. Q: I own a home, but I bought another home with my boyfriend. I …
Short Sale Option or Strategic Default
You’re underwater on your mortgage, should you try a short sale of your home or should you walk away in a strategic default and risk a deficiency judgment? Q: My daughter is in an interest-only loan with a 30-year term. …
Short Sale vs. Foreclosure Process
The choice might be to buy a home during a short sale, while in foreclosure or once the bank owns the home as an REO; each of these has its pros and cons in the home buying process. Q: I …
Buying a Foreclosed Or Short Sale Home
Buying a foreclosed or short sale home when you are downsizing. Q: We would like to down-size and are looking at a community with a lot of short-sales and foreclosures. Is there anyway to lessen the expected protracted period of …
Short Sale Fraud In The Sale Of Home
Short sale fraud is possible when a seller decides to sell his home with the intent to keep it for himself by using a quitclaim deed. Q: My brother is in foreclosure on his house. He is trying to get …
Short Sale Appraisal Process May Be Required By Lender
Q: We are closing on a house next week. It’s a short sale in a nice neighborhood at a huge discount. All the papers are in order. The deal went smoothly but took 8 weeks. The seller’s bank wants a …
