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Cash For Short Selling A House Under New Bank Of America Incentive Program

Bank of America recently announced on its website that it will be considering homeowners that are attempting short sales for seller incentives of up to $30,000.  The incentive program is now being released nationwide after a successful result in a trial program attempted in Florida. ALTERNATIVE SELLER INCENTIVE PROGRAMS Up to this point incentives have […]

Q&A: How Does A Short Sale Affect Me If I Claimed The Home Buyer Tax Credit?

Tax Credit

We have had several clients ask about how a short sale or foreclosure affects their responsibilities to pay back the Home Buyer Tax Credit recently. Under the general rules an individual that claimed the 2008 Home Buyer Credit is required to pay back the entire amount of the credit, up to $7,500 if the home […]

Great News! New Federal Guidelines Will Make Short Sales Shorter

[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”] One of the biggest draw backs for a short sale is the amount of time it takes to get approval from the banks servicing the loan(s). In extreme cases it can take […]

Loan Modification Treated The Same As Short Sale On Credit Report

I was speaking with a loan officer today and learned something very interesting about how loan modifications are treated on  a credit report. Individuals with loan modifications are treated the same as those with short sales in their past for purposes of obtaining a loan to purchase a home in the future. Loan Modification = […]