Pat Owens's (paowens) Blog

In my neverending education on Short Sale transactions, I have learned that if there is an IRS lien on a property that is pending as a Short Sale, not only must the seller jump through hoops for the lender(s), but IRS demands an obstacle course to be run. I currently have a short sale transaction...

I am currently working with a couple who is selling their home as a short sale and there is a sizable IRS lien on the property. We have approval on the deal and have about 30 days to get it closed, subject to the IRS lien accepting about 10% of what is owed.  The homeowner is frustrated because a...

I was talking to my daughter who lives in a neighboring city yesterday and she and her husband have outgrown their first home and after adding three children and one rather large dog, it's time to upgrade.  They have done a bit of painting and reflooring since moving in, but let's face it, it is ...

FORECLOSURES-FHA OFFERS A GREAT OPPORTUNITY FOR REAL ESTATE BUYERS  It had been a while since I had really been to an FHA (Federal Housing Administration oversees the housing program for the HUD-Department of Housing and Urban Development) training session and since we all need to revisit areas o...

NEW GOVERNMENT INCENTIVES FOR SHORT SALES  Recently, I heard of this program for the government to pay incentives to the seller and the servicing agent of the loan upon the closing and funding of a short sale.  A short sale is when a property is sold to an arms-length third party and the investor...