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An Eighth Common Northeast OH Short Sale Myth: I Can Erase Any Deficiency On My Upside Down Home By Simply Declaring Bankruptcy

Northeast OH – A lot of people incorrectly think that bankruptcy is a “Get Out Of Jail Free” card. Yes, bankruptcy does not help a lot of people get back on their feet.

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

However, it is not a “Get . . . → Read More: An Eighth Common Northeast OH Short Sale Myth: I Can Erase Any Deficiency On My Upside Down Home By Simply Declaring Bankruptcy

Fixing Credit After A Northeast OH Short Sale Step 6: Why It’s So Important To Document Everything

Northeast OH – I mentioned in the last note that you’ll need to keep a file of records about your credit restoration process. This is an important part of the process, and deserves a bit more than a brief mention.

Get my Free, Step By Step Loan Modification Guide by clicking here.

The credit . . . → Read More: Fixing Credit After A Northeast OH Short Sale Step 6: Why It’s So Important To Document Everything

Northeast Ohio Short Sales: How To Convince A Lender To Waive A Promissory Note

Northeast OH – Some lenders are very stubborn about collecting what they feel they are “rightfully owed.”

These lenders are usually a lender that you originally got the loan from. A good example is a credit union loan, or a small community bank.

Another common type is loans that were granted with Private . . . → Read More: Northeast Ohio Short Sales: How To Convince A Lender To Waive A Promissory Note

Will the forgiven money on a short sale be reported to the IRS as income?

One of the most common concerns that sellers have when we discuss working with them to do a short sale on their home is:

Will I be taxed on my the forgiven debt from my Ohio short sale? Call Andy with more questions or to get your home sold on a short sale. . . . → Read More: Will the forgiven money on a short sale be reported to the IRS as income?

Bankruptcy fails as foreclosure rescue – cleveland.com

I have written before about bankruptcy and it’s effects on foreclosure in other blog posts.  On cleveland.com I found an interesting article: Bankruptcy fails as foreclosure rescue.

Bankruptcy does have it’s uses in helping people dealing with foreclosure but practically speaking it will never be a foreclosure rescue.  However it has been an excellent . . . → Read More: Bankruptcy fails as foreclosure rescue – cleveland.com

Take advantage of the free foreclosure assistance at Lakewood Library

It’s easy to feel powerless when your finances are down and yoru lender is getting ready to yank the carpet right out from underneath your feet. To make matters worse the second you make a late payments you get solicitations from foreclosure consultants and attorneys from around the country offering to stop the foreclosure… . . . → Read More: Take advantage of the free foreclosure assistance at Lakewood Library