July 11, 2018
When Buying a Short Sale Home is the Right Fit
Posted in Short Sales by Richard Eastern
Purchasing a home can feel overwhelming at times, but a short sale home offers a unique opportunity for a prospective buyer. A short sale occurs when a homeowner owes a lender more than their home is worth, and the lender agrees to let the owner sell the home and accept less than what is owed. Lenders may agree to a short sale because they believe it will net them more money than going forward...
Read More >
September 19, 2016
U.S. Government $10,000 Short Sale Incentive Expires December 30, 2016
Posted in Short Sales by Richard Eastern
The federal government’s Home Affordable Foreclosure Alternatives (HAFA) Program is set to expire December 30, 2016. The program pays homeowners $10,000 to complete a short sale rather than go through the foreclosure process. Since the application deadline for HAFA is only a few months away, it is important for homeowners to apply as soon as possible.
Read More >
July 22, 2015
6 Powerful Reasons to Consider a Short Sale Instead of Foreclosure
Posted in Short Sales by Richard Eastern
Selling your home can be a tough choice. It’s an emotion-packed decision that affects your whole family. Often homeowners feel that selling short is a catastrophe – even when it’s almost impossible to make their mortgage payments. A short sale can be the first step to a financial freedom. The relief from getting out from under an unaffordable mortgage can be exhilarating.
Read More >
March 26, 2015
Update: A Legislative Effort Is Now Underway In Congress To Extend The Mortgage Forgiveness Debt Relief Act
Posted in Short Sales by Richard Eastern
UPDATE: Senators have introduced a bipartisan bill that would extend the Mortgage Forgiveness Debt Relief Act through 2015 and all of 2016. Heller is an influential member of the Senate Finance Committee and has pledged to attach the bill to a larger piece of legislation that is moving through his committee. We will keep you posted on the progress of the extension as the process moves forward.
Read More >
December 22, 2014
Insolvency Clause Tax-Saving Alternative to Mortgage Forgiveness Debt Relief Act in 2015
Posted in Short Sales by Richard Eastern
On December 16, 2014, President Obama signed a bill that extended the Mortgage Forgiveness Debt Relief Act retroactively to cover mortgage debt cancelled in 2014. The Mortgage Forgiveness Debt Relief Act (MFDRA) prevents homeowners who went through a short sale from being taxed on the amount of their home mortgage debt that had been forgiven.
Read More >
