I’ve beaten this subject to a pulp over the last couple of months, but I worry that sellers that need to short sale are going to miss the train and then they will be stuck. On December 21, 2012 the Mortgage Forgiveness Relief Act is set to expire. So if you close on your home on [...]
If you had mortgage debt forgiven in recent year, whether it was through a short sale or perhaps mortgage modification then you may be able to claim special tax relief and exclude the debt forgiven from your income.
That is because the Mortgage Debt Forgiveness Debt Relief Act of 2007 allows for owners of primary [...]
When Congress passed the act in 2007, they gave it an expiration date of December 31, 2012. For those of you thinking of short selling, you will want to pay attention to this. If this act does not get extended (and currently nothing is in the works), if you don’t close on your short sale [...]
Marty Boardman wrote an interesting piece on how FHA buyers in Phoenix are like 2nd Class Citizens. Just yesterday I met a client for a showing and bumped into 10 other agents doing the same thing, and noted there were no less than 40 there before me (from the business card stack on the table). [...]
Another question from the readers.. How to short sell in Arizona? Well, I would suggest that you don’t do it alone, this is something that can have long-lasting implications and the last thing you want to happen is to be haunted by this process for years to come. I’m pretty confident that you want to [...]