If You’re Struggling With a Foreclosure or Trying For a Mortgage Modification Consider This
The FDIC took over IndyMac in 2008 after a run on deposits led to the second-biggest failure of a federally insured bank in U.S. history. When no buyers emerged, the government had to manage IndyMac until the following March, when most of [...]
Entries Tagged as 'short sales'
IndyMac Bank- Another Example of Amercians Getting Screwed While the Fat Cats Get Even Richer
January 14th, 2010 · No Comments · Foreclosure
Tags:Foreclosure·foreclosure defense·hamp·indymac·indymac loan modification·indymac mortgage·matt weidner·mortgage modification·onewest·pinellas·short sale·short sales
Short Sales Under the New HAFA/HAMP Program- Ten Day Approvals From Lenders
December 8th, 2009 · No Comments · short sale
If a homeowner does not qualify for a home modification, the Home Affordable Foreclosure Alternatives may provide a new option, through a short sale or deed in lieu which will allow them to walk away from the mortgage pursuant to the programs guidelines. Realtors who are pursuing short sales should know and understand this new [...]
Tags:HAFA program·hamp·lender approval·new hamp guidelines·short sales
Double Dip in Housing Means More Foreclosures Are Coming.
November 19th, 2009 · No Comments · Foreclosure
Housing starts fell dramatically, after posting several months of slight increases or stabalization. Meanwhile more Americans who bought homes during this brief increase are falling into trouble. About 3.4% or 1.9 million homeowners are 120 days or more late on their payments, up 1.5% from last year.
The total number of homes for sale was 3.63 [...]
Tags:bankruptcy·Foreclosure·housing·matt weidner·mortgage modifcation·pinellas·recession·short sales
Short Sales and Legal Pitfalls for Realtors
October 20th, 2009 · No Comments · short sale
A frequent topic of consultation between myself and many of the Realtors that I work with is the increased liability agents face in the current economic environment and when negotiating short sales in particular. Given the additional risks and confusion in a short sale transaction, the potential risks are magnified and agents are cautioned to [...]
Tags:Attorney·Foreclosure·homeowner·pinellas county·realtor·short sales·tax liability
SHORT SALES, REALTORS AND THE FLORIDA FORECLOSURE RESCUE ACT
September 7th, 2009 · No Comments · Foreclosure
In many instances, the best solution for a homeowner facing foreclosure is to sell his or her property to satisfy the underlying mortgage debt and conclude the foreclosure case. Because so many homeowners owe more on their homes than the property would bring at sale, the only practical solution is a “short sale” or a [...]
Tags:florida foreclosure·florida foreclosure rescue·foreclosure rescue act·short sales
Short Sales, Deed In Lieu and 1099-C Tax Liability
August 11th, 2009 · 2 Comments · Foreclosure
A critical question affecting homeowners who are caught in a foreclosure problem is whether they will face 1099-c tax liablity from the IRS. In short, if the lender has a mortgage on your home for $200,000 and the home is sold in foreclosure and the bank only recieves $100,000, the lender will issue to the [...]
Tags:1099-c·deed in lieu·short sale·short sales·tax liability
