WHAT IF I OWE MORE ON MY HOUSE THAN IT’S WORTH? WHAT CAN I DO?
A “short sale” is an option.
This is where the owner and the lender cooperate to sell the home for less than the balance owed on the property.
Typically the owner contracts with a real estate agent to sell the property. The agent contacts the lender to […]
11-6-2013
A lot of our business comes from parties who have a need to sell there house quickly. These include those who owe more on their home than they’re worth, some who are being foreclosed upon, and others who have a home needing many repairs. Because we have cash to buy and the ability to purchase quickly, buyers come to […]
12-13-13 For those wanting to buy again, this is an important question: “When Can I Buy Again?”
The good news is you can. When you can buy depends on who buys or insures the loan. Martin Goldberg has some nice guidelines relating to this question. He posted it in May 2013. Keep in mind lending guidelines change and Mr Goldberg’s […]
12-4-13 – The Home Affordable Refinance Program, also known as HARP, is a federal program of the United States, set up by the Federal Housing Finance Agency in March 2009 to help underwater and near-underwater homeowners refinance their mortgages. The application deadline is Dec 31, 2015. To see if you qualify check out the HARP website!
11/25/13 – For Homeowners doing short sales, where what you sell your house for is less that what you owe, there has been a taxable issue with the State of California and the Federal government. Previous to 2007 the forgiveness of the debt has been a taxable item on your tax return. For example: you sell your house for […]
11-20-2013 J.P. Morgan Chase just settled with the Justice Department over a variety of legal issues related to the mortgage debacle. Apparently they were not forthright about the mortgages they sold on the secondary market. They were weaker mortgages than advertised. In the agreement J.P. Morgan is to provide 4 Billion in aid to distressed borrowers. The use of […]