We have been working hard on these Short Sales and all the hard work is paying off. I believe this is another case of the seller staying current while doing a Short Sale. This investor owned home on Solano Drive in Litchfield Park was interesting, because the seller stayed current on his payments. not only that, but he works for the bank. Congratulations to my Short Sale negotiator, Georgi Straton at Winsor Coleman PLC!
In today’s world of Foreclosure and Short Sale dominance in the real estate world, buyers and sellers need a professional now more than ever.
For people struggling with this situation we have put together a series of videos to help inform them of their choices and concerns. I call the series Before Foreclosure and Short Sale what are My Options.
I first ask the question, Can you keep your home? I know how difficult this is and sometimes we just want to give in, when in reality we can make it work. This video reviews the different options to help you keep your home.
Next, we review – Are You Protected? I am not an attorney nor CPA, so I cannot advise on these legalities. However, I pose the questions you need to seek answers to such as:
Can the bank come after you for recourse? You need to look at the type of purchase, was the loan purchase money, was any cash out refinance used to improve the home, what kind of language does the bank use in your approval letter?
Will there be tax consequences from this sale? Was the loan purchase money, was there a cash out refinance, if cash out refinance were those funds use to improve the home, was the home owner occupied, is this an investment property and if so will a 1099 be absorbed in your profit and loss; and lastly were you insolvent at the time of the liquidation of the asset?
Check our website for videos on these subjects and referrals to professions that can assist you.
Hope you find this valuable, please share it with a friend and reward me for this FREE information for a chance to be your Realtor for a Short Sale, regular sale or home purchase.
Thank You-
Jeff Cameron
Keller Williams Integrity First
480-502-7699
480-652-2004