Learn About Legal Ramifications Of Foreclosure From Your Real Estate Attorney In Phoenix
Are you about to lose your home to foreclosure and are wondering what some of the legal ramifications of this could be? The real estate agents in Phoenix as Wells Realty and Law Groups want you to know that if you lose your home to foreclosure it’s not just as simple as walking away. When […]
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 […]
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 = […]
