January 6, 2008
Experts short sale services
Experts can help you with your short sale.
But it is crucial that you don' t pick just anybody. The right experts short sale services makes all the difference.
What the expert will do is this:
Help you assemble your package to submit to your lender (or lenders if you have two mortgages)
Draft a hardship letter
Get a good broker's price opinion on the property
Present this and other documents to your lenders
Help to get the property sold fast (see sell your house fast to learn about the nine day house sale method that sells your house in nine days without fixup, even when there are "no buyers" out there)
Get the buyer to be okay with things, even though short sales sometimes drag on and buyers are tempted to abandon their offer
Persist in getting the lender to say "yes"
Work on negotiating for you so that the lender doesn't ding your credit too bad, and so the lender agrees not to go after you for their financial losses later on (in many states they can sue you for their losses).
A good expert in short sale services is extremely helpful. I have developed the Mortgage Relief Formula as a do-it-yourself guide to getting lower payments without new loans, doing a short sale, selling your house in nine days without fix-up no matter how bad the market is in your neighborhood, lowering your credit card payments while improving your credit rating, and even buying a new property with no money down and no credit. I make the Mortgage Relief Formula available to you as a book and CDs along with a private on-line forum for individual help with your situation. And you only pay for shipping and handling and then pay the balance if you decide to keep it. Click here to order Mortgage Relief Formula home trial.
Watch This Video on Short Sales and Keeping a Good Credit Rating
Type In Your Email and Name and Immediately See This Video on Short Sales
I have a special video for you to watch with all the latest information on short sales. You'll learn how to run a nine-day real estate sale, work with a lender for a short sale, and how to keep a good credit rating. Also, there's information on keeping the IRS happy with your taxes. You can opt out anytime by clicking on a single link that is in all the emails. And, I never sell your name to anyone..
1 Comment on Experts short sale services »
August 9, 2008
Ellen Tajima @ 9:20 am:
We have an approved shortsale from the lender. However, the Seller & their attorney want to file for Bankruptsy as there is also another house facing foreclosure along with other credit debt. The Inspection, Survey & Termite Inspection .& final loan approval need to be completed. The bank gives us til 8/220/08 to closre. They are concerned about the tax liability. Can the Mortgage Tax Relief Act of 2007 apply. . Ellen
If the house was the borrower/homeowner's principal residence then it applies. There is also the technical insolvency test. If they owe more than they have, then the deficit, whatever it is, protects them against that much "cancellation of debt income".
If they owe $400,000 on their mortgage, and their house is worth $200,000, they have a negative $200,000 net worth. To simplify. So they would have $200,000 of cancellation of debt income, and also $200,000 negative net worth, so it is a wash and they'd have no tax liability. As always, remember I am just some Guy on the Internet and get advice from a real expert.
–Richard