Short Sale Tempe, AZ
Tempe Short Sale Approval
Experts
 Get Started With Your Short Sale Here
We serve
Washington State, California, Oregon, Nevada and Arizona.
We can help with your short sale. And our service is no cost to you!
When it comes to a Short Sale vs Foreclosure there are some
very large advantages to doing a short sale.
What is a short sale?
Per
Wikipedia "A short sale
is a sale of real estate in which
the sale proceeds fall short of the
balance owed on the property's loan.
It often occurs when a borrower cannot
pay the mortgage loan on their
property, but the lender decides that
selling the property at a moderate loss
is better than pressing the borrower.
Both parties consent to the short sale
process, because it allows them to avoid
foreclosure, which involves hefty fees
for the bank and poorer credit report
outcomes for the borrowers. This agreement,
however, does not necessarily release
the borrower from the obligation
to pay the remaining balance of the
loan, known as the deficiency....wikipedia"
There is
no cost to.
The bank
will pay our compensation for getting the property sold.
At the
same time we will look out for your interests and take the pain
and confusion
out of doing a short sale. We provide, at no cost to you,
an ethical
and professional solution. While it is possible to negotiate
on your
own most often the bank will want your property listed with a
real estate
professional. Our affiliation with HomeWorks Real Estate
gives
us tremendous negotiating power. HomeWorks Real Estate
has successfully
listed and sold thousands of properties.
Short Sale
vs. Foreclosure. Why do a short sale?
Banks
really don't want to foreclose on a property under most
circumstances.
They would rather discount the loan in a short sale.
This saves
the bank a lot of wasted time and expense. A short
sale saves
you the negative effects of having a foreclosure.
Are there
tax implications in doing a short sale?
Yes but you can usually
get the IRS to waive them. The Mortgage Forgiveness
Debt Relief Act was introduced
in Congress on September 25, 2007, and
became law on December
20, 2007. This act offered relief to homeowners who
would formerly owe taxes
on forgiven mortgage debt after facing foreclosure.
The act extends such relief
for three years, applying to debts discharged in calendar
year 2007 through 2009.
(With the Emergency Economic Stabilization Act of 2008,
this tax relief was extended
another three years, covering debts discharged
through calendar year
2012.)
Form
982 Reduction of Tax Attributes Due to Discharge of Indebtedness.
(Click to open)
and you should speak to your accountant because the IRS
will often grant a hardship
waiver even on a property that is not a principle residence.
(Note: we are not accountants
and do not provide accounting or legal advice. All information
contained herein should
be verified with a certified accountant and or qualified attorney
WA License# WE-BB-ER-A638OT.
OR License# 200306091. CA License# 00582834. AZ License# BR539425000.
NV License# B.0022885.CORP.
If you live in California,
Arizona, Nevada, Oregon or Washington state we likely have you
covered for a short sale in your area. These are just a few of
the
cities we serve. If you don't
see your city call us 1-800-840-2248
|
|
