How Much Does It Cost You To Short Sale Your House?
Today we’re answering the question “How much does it cost me to short sale my house.” That question is kind of a two layered question because there are two different aspects with regards to how much it could cost somebody. There is the fee aspect from working with your realtor or attorney and then there’s […]
Short Sale May Be Option To Capitalize On Real Estate In Gilbert
If you are considering selling your home make sure to find an agent with both legal and real estate experience. Whether you are current on your mortgage or have missed payments there are numerous options for selling your distresed property and finding new real estate in Gilbert. Take advantage of the knowledge you will find […]
I received a 1099-C or a 1098…Now What? (VIDEO)
When a mortgage lender cancels or forgives a debt, as is often the case with a short sale or foreclosure, the “forgiven” amount of that loan is reported on a Form 1099-C which is sent to the borrower. Absent legal safeguards such as a state’s anti-deficiency statute, or the Mortgage Forgiveness Debt Relief Act, the […]
Insolvency Not Bankruptcy Protects Debt Forgiveness
As we all know by now, when an individual owes a debt to another person or entity and the debt is forgiven, the canceled debt may be taxable. In the past, this general rule has applied to debt forgiveness related to a short sale. In 2007, Congress passed the Mortgage Debt Forgiveness Act (“MDFA”). The […]
