How do I start the short sale process? Answer: A FREE Short Sale Kit Start the short sale process by downloading a FREE short sale kit that contains the information and forms you need to start your short sale and … Continue reading
June 21, 2012
Deed in lieu vs Foreclosure?
What is the difference between a deed in lieu and foreclosure? Answer: A deed in lieu of foreclosure (also known as a deed in lieu) still results in you having to leave your home. However, you’ll technically avoid having … Continue reading
June 7, 2012
When does the Mortgage Forgiveness Debt Relief Act expire?
When does the Mortgage Forgiveness Debt Relief Act expire? A: The Mortgage Forgiveness Debt Relief Act Expires 12/31/2012 Download the free guide. Here’s another post I wrote on this topic: http://michaelsrealestate.com/short-sale-1099-and-the-mortgage-forgiveness-debt-relief-act/
May 27, 2012
What is a HAFA short sale?
What is a HAFA short sale? A: HAFA stands for Home Affordable Foreclosure Alternative Program. HAFA is a program of the Department of the Treasury & Housing and Urban Development which is administered through your participating lender. The benefits of … Continue reading
May 27, 2012
Short Sale 1099 and the Mortgage Forgiveness Debt Relief Act
Do I get a 1099 if I do a short sale? A: Almost certainly, yes, you will get a 1099 if you complete a short sale. The Mortgage Forgiveness Debt Relief Act Expires 12/31/2012 In 2007, the Mortgage Debt Relief … Continue reading
May 16, 2012
Bank of America Cash for Keys Program Nevada
Bank of America Cash for Keys Program, Nevada LIMITED TIME OFFER On May 15, 2012, Bank of America announced a new short sale Relocation Assistance Program: Homeowners are eligible to receive $2,500 to $30,000 in relocation assistance. For a … Continue reading
May 3, 2012
What is the difference between how a deed-in-lieu is reported on my credit score vs. a short sale?
What is the difference between how a short sale is reported on my credit vs. a deed-in-lieu? A. This is right out of the MHA Handbook: (Credit) Reporting for Deed in Lieu should be as follows: Account Status Code = … Continue reading
May 3, 2012
What do you suppose is the shadow inventory size in Las Vegas right now in 2012?
Q: What do you suppose is the shadow inventory size in Las Vegas right now in 2012? Answer: Let’s start here: There are still over 150,000 mortgages underwater in Las Vegas but how many are in default and yet … Continue reading
May 2, 2012
What do lender consider acceptable short sale hardship reasons?
Q: What do lender consider acceptable short sale hardship reasons? A: Here is a list of the most common short sale hardship reasons however all hardships have to be documented and approved by your lender: http://michaelsrealestate.com/short-sale-hardship-reasons/
May 1, 2012
What are the signs of short sale fraud
Q: What are the signs of short sale fraud or loan modification fraud? A: The FBI reported a jump of 71% in mortgage relief fraud investigations from 2008-2009, and expects this number to continue to grow. That’s why it’s my … Continue reading
