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A New Strategy To Make Northeast OH Short Sales Faster & Easier

Northeast OH – Yesterday we discussed a serious problem affecting the short sale industry. Today, we are going to lay out a strategy that the short sale sellers can use to help solve this problem.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The biggest reason that . . . → Read More: A New Strategy To Make Northeast OH Short Sales Faster & Easier

Why Isn't Anyone Holding These People Accountable On Northeast OH Short Sales?

Northeast OH – Are you thinking about short selling your home? Here is a way that any seller can help with the short sale. First off, the biggest problem is that there is very little accountability in the short sale industry.

Click here to discover how other sellers successfully did a short sale and . . . → Read More: Why Isn’t Anyone Holding These People Accountable On Northeast OH Short Sales?

A Few Instances Where You May Owe Income Taxes After A Northeast OH Short Sale

Northeast OH – The Mortgage Forgiveness Debt Relief Act of 2007 allows most people to short sale their home and not owe any income taxes on the forgiven debt.

However, there are a few situations where a homeowner may still owe taxes after a short sale.

Click here to discover how other sellers successfully . . . → Read More: A Few Instances Where You May Owe Income Taxes After A Northeast OH Short Sale

Northeast OH Short Sales: So How Does The Mortgage Forgiveness Debt Relief Act Help You?

Northeast OH – In our last blog post we explained that the Mortgage Forgiveness Debt Relief Act does not automatically release you from your mortgage debt after a short sale.

So, what does this law cover? What does it do? I’ll answer that question today.

Click here to discover how other sellers successfully did . . . → Read More: Northeast OH Short Sales: So How Does The Mortgage Forgiveness Debt Relief Act Help You?

A Common Northeast OH Short Sale Myth: Everyone Who Short Sells Their Home Will Be Released From The Debt

Northeast OH – Be careful who you take short sale advice from. Unfortunately, not everyone knows and understands short sales.

Here is an example of the myths propagated by people who think they know and understand short sales. I received an email from another agent recently.

Click here to discover how other sellers successfully . . . → Read More: A Common Northeast OH Short Sale Myth: Everyone Who Short Sells Their Home Will Be Released From The Debt

Northeast OH Short Sale Help: Having Financial Problems? Tell Debt Collectors To "Get Lost"

Northeast OH – Most of the short sale sellers that we help are selling this home because of financial problems. They can’t afford the payments and sell their home to avoid foreclosure.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Because of this I am very familiar . . . → Read More: Northeast OH Short Sale Help: Having Financial Problems? Tell Debt Collectors To “Get Lost”

USA Short Sales: Why Do Bank Negotiators Break The Rules?

Northeast OH – We had a negotiator at Bank of America try to push us around a little while ago. We’ve studied and analyzed all of the short sale guidelines and rules.

This was an FHA loan and therefore would be governed by FHA’s Short Sale Guidelines. This means that the lender must follow . . . → Read More: Northeast OH Short Sales: Why Do Bank Negotiators Break The Rules?

Don’t Accept A Promissory Note When You Short Sale Your USA Home

Northeast OH – Many lenders ask for a promissory note on short sales. This is especially true if the lender has Private Mortgage Insurance (also called PMI) that has to approve the short sale.

The PMI companies know that homeowners will do anything to protect their credit when they are short selling their home.

. . . → Read More: Don’t Accept A Promissory Note When You Short Sale Your Northeast OH Home

USA Short Sale Deficiencies On

Northeast OH – Another common type of loan that does not usually have a deficiency is a “Sliced and Diced” loan. A “Sliced and Diced” loan is a loan that has been securitized along with a bundle of other loans.

Here is how that happened. John gets a loan from ABC Bank. ABC Bank . . . → Read More: Northeast OH Short Sale Deficiencies On “Sliced & Diced Loans?

Will I Owe A Deficiency On A Northeast OH Short Sale If I Have A USDA Loan?

Northeast OH – Another common type of loan that does not usually have a deficiency is a USDA loan. The USDA loan program was created to make it easier for people that lived in rural areas to buy their own home.

Click here to discover how other sellers successfully did a short sale and . . . → Read More: Will I Owe A Deficiency On A Northeast OH Short Sale If I Have A USDA Loan?