HELOC Liability After Foreclosure or Short Sale
Groups preying on distressed homeowners have found another angle for exploiting those who have lost their home. As if there was not enough already for distressed homeowners to concern themselves over, now those who have been through foreclosure or a short sale with a HELOC need to be on the lookout for persons and companies […]
Mortgage Forgiveness Debt Relief Act May Get an Encore
In less than four months one of the clearest safeguards for Arizona’s distressed homeowners attempting a short sale is set to expire. The Mortgage Forgiveness Debt Relief Act of 2007 (“Act”) has made the choice between short sale and foreclosure a much easier one to make, and it may just stick around for an additional […]
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?
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 […]
