Short Sale Mortgage Debt Relief: Taxed In 2013
[caption id="attachment_5851" align="aligncenter" width="500" caption="Sacramento Short Sales will become taxable in 2013"][/caption] Short Sale Tax, Loan Modification Tax and Foreclosure Tax... And you thought your only problem was a mortgage that had bloated out of hand... Forth Hoyt, Certified Sacramento Short Sale Agent explains: The Mortgage Debt Relief Act of 2007 will expire on December 31 2012. Now the IRS is going to want to tax you at regular income tax rates, for the mount the banks write off in your foreclosure, loan modification or short sale... Directly from the IRS Website: The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in...
Folsom Certified HAFA Agent Explains Benefits Of HAFA Short Sale
[caption id="" align="aligncenter" width="360" caption="Certified HAFA Specialists Are Trained To Close Your HAFA Short Sale"][/caption] Certified HAFA Specialist Designation So What are the HAFA Benefits? Folsom HAFA Certified Short Sale Agent and Folsom Expert HAFA Short Sale Negotiator Forth Hoyt Explains The Benefits Of HAFA Short Sales. Designed by the Administration and funded by the Treasury, The HAFA Program, which took effect April 5, 2010, provides servicer, seller and Investor (whoever actually owns the note) incentives. HAFA is supposed to benefit everyone involved in the HAFA Short Sale Negotions. You see, the HAFA Government Short Sale Program was created in the wake of a Failing HAMP loan modification program that only provides less than...
California Anti Recourse Bill For First AND Second Mortgages 580e
Sacramento Short Sale Specialist And Certified Short Sale Expert Forth Hoyt Reports: California's Newest Anti-Recourse law: Civil Code Of Procedure 580(e) extends protection from collections to ALL Mortgages, even junior liens, or "seconds". The newest California Short Sale Anti Recourse Legislation, introduced by Senate Majority Leader Ellen M. Corbett (D-San Leandro) . This bill would provide that a loan used to pay all or part of the purchase price of real property or an estate for years includes a subsequent loan, mortgage, or deed of trust that refinances or modifies the original loan... No matter if homes have been refinanced or not, all proceeds from short sales will be considered payment in full. The bill would prevent holders of second mortgages from pursuing...
Folsom Short Sale Information Presented By Folsom Certified HAFA Short Sale Specialist
[caption id="" align="alignnone" width="600" caption="Folsom Short Sale Help And Information... Successful Short Sales in Folsom Are Increasing!"][/caption] Sacramento Short Sale Specialist and Folsom Certified Short Sale Agent Forth Hoyt reports the Folsom Short Sale Market for March 2011. This Folsom Short Sale Information presented by Folsom Certified HAFA Short Sale Specialist. Short Sales have been a major part of our active inventory here in Folsom for some time now. Finally, Short Sales are becoming a significant part of our closings. Successful short sales in Folsom and subsequent Folsom Short Sale closings have increased to become just under 30% of our closed sales. As a Folsom Short Sale Specialist and Folsom Certified Short Sale Negotiator, I negotiate with the bank in order to get...
CAR Short Sale Addendum Form Reminds Us Short Sale Is Often Times Long sale!
Here's a Great article by Bob Hunt from Realty Times There is a sense in which the term short sale is a bit of a misnomer. That is because short sales often take a very long time. This is just one of the things that principals and their agents need to be aware of if they are intending to be involved in a short sale -- i.e. a sale in which the proceeds will be less than the balance owed on the mortgage loan(s). Recently, the California Association of Realtors® (CAR) published a Short Sale Addendum (SSA) that may be used with an offer or counter offer in a short sale situation. The addendum is...
California’s Anti Deficiency Law For Short Sales Will Stop Banks From Recourse
[caption id="attachment_3829" align="aligncenter" width="300" caption="California's Newest Short Sale Anti Deficiency Law Goes Into Effect Jan 1, 2011"][/caption] Sacramento Short Sale Specialist and Certified Short Sale Negotiator Forth Hoyt reports on California's new short sale anti deficiency law for short sellers, and how it will change short sale recourse in California. How will it change Recource on California Short Sales? SB 931, recently enacted legislation governing “short sales,” goes into effect Jan 1, 2011, The Legislation applies to any note secured by a first deed of trust or first mortgage for a dwelling of not more than four units. SB931 protects Homeowners as well as Investors, as it is not...
Sacramento Short Sale Specialist Learns About Bankruptcy After Short Sale
[caption id="" align="aligncenter" width="300" caption="Sacramento Short Sale Specialist Learns About Short Sale After Bankruptcy"][/caption] Sacramento Short Sale Specialist, Sacramento Certified HAFA Specialist Learns About Short Sales After Bankruptcy As a Sacramento short sale Listing specialist, REO Listing Specialist and Folsom, El Dorado Hills and surrounding area's buyers agent in this crazy market, I meet all kinds of people, see all kinds of properties and get all kinds of questions... I build my business around relationships and focus on bringing value to the table, value in the form of real-time information, advice, understanding and collaboration. My goal has always been to understand where a person is and where they are going, and then figure out how I...
How Do I Short Sell My Folsom Home? What Will HAFA Do To Help Me?
[caption id="attachment_3501" align="aligncenter" width="400" caption="Stop Foreclosure In Folsom With A Short Sale"][/caption] Hi! I am a Short Sale Listing Specialist in Folsom and A Sacramento Certified Short Sale Specialist who likes to write about Short Sales, the new HAFA Government Short Sale Program and How The Short Sale Process Works. I'm constantly communicating with Struggling and Upside-down homeowners in Folsom and the entire Sacramento area about how Short Sales Can Keep Homeowners Out Of Foreclosure, and Short Sale Information in general. I talked to two people Today who both called off my website. Both were Struggling Homeowners who are Upside Down In Folsom. They both basically asked "How Do I Short sell My Folsom Home?" Both had questions about HAFA ; how HAFA works and who...
Folsom Foreclosure Help And Short Sale Information; Folsom Short Sale And Foreclosure Report
[caption id="attachment_3266" align="aligncenter" width="600" caption="Folsom, CA 95630 Short Sale Stats Show Short Sale Approvals In Folsom Continue To Increase!"][/caption] Folsom Short Sale Help and Folsom Short sale Information. Short Sale Stats for Folsom from Folsom Anti-Foreclosure Specialist and Multi-Certified Short Sale Expert Forth Hoyt. Short Sale Approvals in Folsom and Pended Folsom Short Sales Continue to Surge! ...yet closed short sales in Folsom are still way behind. Where's the Disconnect? Either failed or delayed Short Sale closings! Folsom Certified Short Sale Specialist Answers: Why Do A Short Sale? You can see from the graph above that pended short sales (short sales go pending immediately after third party Short Sale approval) have really surged, yet the number of closed short sales are not keeping up. See...
El Dorado Hills Short Sale Information And El Dorado County Short Sale and Foreclosure Report
[caption id="attachment_3238" align="aligncenter" width="450" caption="El Dorado County Short Sales 07 25 10"][/caption] The Graph Above and Chart Below Show a Decline In Active Short Sales in El Dorado County, While Pending Short Sales, Approved Short Sales And Close Short Sales Have Dramatically Increased in El Dorado County Since Last Summer! 1 month 1 year May 10 June 10 % Change June 09 June 10 % Change For Sale 187 203 8.6% 227 203 -10.6% Sold 40 46 15% 21 46 119% Pended 59 98 66.1% 48 98 104.2% New Government Foreclosure Prevention Program Eligibility- Which Programs Do You Qualify For? CHECK YOUR ELIGIBILITY NOW So active short sales have declined and the number of El Dorado County short sale closings are increasing. This means that more of our inventory is actually being cleared before foreclosure in El Dorado County and that homes...
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