Posted on November 13th, 2009, by Stephan Sabbah
NEW YORK (CNNMoney.com) — President Obama signed an extension and expansion of the first-time homebuyers tax credit on Friday. The $8,000 credit was scheduled to lapse on Dec. 1 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30 and close by June 30. The income [...]
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Posted on March 16th, 2009, by Stephan Sabbah
What is a real estate short sale? A little-known alternative, once more commonly used in the real estate downturn of the early ’90s, is the “short sale,” which works like this: A homeowner falls behind on his or her mortgage payments, usually due to a job loss, rising debt payments, or both. Facing [...]
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Posted on March 16th, 2009, by Stephan Sabbah
Once Countrywide has received a copy of a signed purchase agreement, they will need about 2 days to receive the faxed documents and review. They will follow up with a confirmation of the receipt of the purchase agreement. If the offer is viable, the interior appraisal will be ordered. Within 3 days after the appraiser [...]
Tags: 360 REALTY, bank of america short sales, Countrywide Short Sale Approval, countrywide short sales, los angeles real estate, los angeles short sales, wells fargo short sales
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Posted on March 16th, 2009, by Stephan Sabbah
Until this year, there were definite tax consequences from escaping foreclosure through a short sale. Avoiding foreclosure has always been the best thing to do since it prevents a black mark on your credit report that might keep you from being approved for future loans. Most financial experts will tell you that even today, keeping a foreclosure [...]
Tags: 360 REALTY, bank of america short sales, countrywide short sales, los angeles real estate, los angeles short sales, Tax Aspects Of A Short Sale, wells fargo short sales
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Posted on March 16th, 2009, by Stephan Sabbah
Homeowners facing foreclosure often have the option of selecting a short sale or a deed-in-lieu of foreclosure as a possible solution to their financial difficulties. But are they? Which is the best choice? Like most alternatives, both have their upsides and their downsides. Understanding these options is the only way to make a truly informed [...]
Tags: 360 REALTY, bank of america short sales, countrywide short sales, los angeles real estate, los angeles short sales, Short Sale vs. Deed-in-Lieu: What’s Your Best Choice?, wells fargo short sales
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