Many of our clients Active Duty and therefore are PCS'd quite often. Unfortunately, if my clients purchased a property in the past several years and now are PCS' ing to another part of the country they are stuck with a house that they cannot sell, because they owe more than the house is worth.
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03/03/2010
Well if 2009 was the year of the loan modification nightmare, 2010 will be the year of the Short Sale. Many large banks are now turning there resources toward Short Sales and away from Loan Modifications. If you are a homeowner in the loan modification process, be prepared to start receiving le
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03/01/2010
Many clients have asked me in the past weeks about a Deed-in-Lieu of foreclosure. What are the benefits, what are the drawbacks? Well, a deed-in-lieu of foreclosure is a process by which the homeowner Deeds the home back to the lender. Basically they turn the keys in to the bank. A deed-in-lie
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02/26/2010
Housing Predictor. Com released a research report today stating that the forelcosure crisis is far from over. The research firm in predicting that 20 Million households may be affected by foreclosure in the coming years. http://www.pr.com/press-release/212780 The research report also stated tha
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02/15/2010
I get tons of question on the tax consequences of a short sale and as always I advise my clients that I am not an accountant and therefore homeowners should seek the advice of an accountant. With that being said below is a link to the Mortgage Forgiveness Debt Relief Act of 2007, which may bene
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02/12/2010
New Foreclosure Alternatives at Citimortgage Date: 11 Feb 2010 Comments:0 Citimortgage will anounce on Thursday that it is releasing a new pilot program outlining foreclosure alternatives for homeowners in foreclosure. About the program: Homeowners may stay in the property for 6 months, provided
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02/10/2010
I do a lot of short sales and after seeing this video, I am pissed!!! http://www.youtube.com/watch?v=kdJBNCGEVso
02/10/2010
If a homeowner has an FHA insured mortgage and meet certain criteria, they may be eligible for HUD's Pre-Foreclosure Sales Program. This program is designed to streamline the short sale process for homeowners and give them incentives up to $1,500 for a successful short sale. You can find more in
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02/08/2010
This is a HOT TOPIC and wow there is a ton of Mis-information out there in regards to deficiency judgements, short sales and foreclosures in Maryland. Maryland is a recourse state, so basically a homeowner OWES the money and the banks have the right to pursue a deficiency judgment whether a home
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02/04/2010
Our Government loves acronyms and one of the latest is HAFA, or the Home Affordable Foreclosure Alternatives Program. I wrote about this in an earlier blog, but wanted to give a quick update. HAFA was designed for homeowners who did not qualify for a loan modification as another way to avoid fo
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02/02/2010
