Tax Break for Underwater Homeowners Ending, May Slow Short Sales

General Counsel to NJAR Barry Goodman
Short Sale
Image by Eastern Bergen County Board of REALTORS
Presented by attorney Barry Goodman on March 23, 2010, topics discussed included:

* Handling short sales
* Protecting commissions
* Understanding attorney review
* Disclosing relevant information
* Complying with RESPA/CEPA/HVCC
* Paying rebates
* Dealing with lead-based paint renovations

Tax Break for Underwater Homeowners Ending, May Slow Short Sales
Many troubled homeowners try to negotiate with their lender, allowing them to sell their home for less than they owe in a short sale, or having their loan balance reduced. The difference between the remaining balance and the lower sales price the bank …
Read more on USFinancePost

Las Vegas Short Sale Closes in the Nick of Time
Las Vegas, NV — (SBWIRE) — 01/03/2014 — Rob Flitton, “The Closer”, a top REALTOR in the market for Las Vegas homes, has just successfully closed yet another short sale – this time a short sale approved through OCWEN LOAN SERVICING, LLC. And with …
Read more on SBWire (press release)

For some, mortgage relief will mean a big tax bill
The tax exemption played an important role as borrowers who were unable to refinance their mortgages ended up selling them through so-called short sales, in which the lender allows the borrower to accept a price that is less than the amount owed. Often …
Read more on Boston Globe

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