Though nothing can erase the damage done by the housing crisis debacle instigated by big banks’ illegal robo-signing ways, a couple of new developments are making a dent.
Entries Tagged as 'Short Sale'
Big Banks Make Amends Via Settlement, Short Sales?
February 8th, 2012 · No Comments · Mortgages
Tags: arizona·big banks·California·foreclosure·Foreclosures·Mortgage·Mortgages·Nevada·New York·robo-signing·Settlement·Short Sale·short sales
The Effect of a Short Sale Vs. a Foreclosure on Credit Scores
April 19th, 2011 · 1 Comment · Credit Bureaus and Scores, Mortgages
I’ve heard many people say that a short sale is much better for your credit than a foreclosure. I’ve heard people say a short sale only stays on your credit for 3 years. Neither statement is true. A short sale is a black mark that stays on your credit for 7 years, just like a [...]
Tags: credit report·Credit Score·delinquent payments·Fair Credit Reporting Act·foreclosure·Short Sale
How to Know if Your Canceled Mortgage Debt is Tax Exempt
March 14th, 2011 · 4 Comments · Taxes
Whether it was through a loan modification, short sale or foreclosure, the mortgage debt you have been forgiven does not count as taxable income provided it meets two main qualifications.
Tags: debt·foreclosure·loan modification·Mortgage·mortgage debt·Mortgage Forgiveness Debt Relief Act of 2007·Short Sale·tax exempt·tax exemption
Buying a Short Sale Property
February 8th, 2011 · 1 Comment · Real Estate
If you’re not in a hurry to move, and are content to wait patiently while the seller negotiates terms with their lender, you can buy a great house through a short sale. While the owner may have paid $500,000 for it at the height of the real estate boom five years back, you can buy [...]
Tags: buyer·financiing·Mortgage·patience·Real Estate·seller·Short Sale·short sale terms
