Debt Forgiveness and Tax Consequences for Foreclosures and Short Sales

Foreclosure, Short Sale, Loan Modification, and Bankruptcy are the most common terms and considerations for homeowners who have fallen behind in house payments.  Homeowners are often confused with the multitude of options and the uncertainty or consequences of their decisions.  Often times a home owner is faced with making a decision based on what seems to be [...]

Short sales not immune to debt collectors in Florida and various states

ORLANDO, Fla. – July 6, 2010 – With more than half of the Central Florida’s homeowners owing more for their homes than the properties are worth, the question for some has become: How do I get out of this? Of all the existing-home sales reported by Realtors in the core Orlando market in May, 23 [...]

Foreclosure Consequences With The IRS – CNN – Sue Hunt – Consumer Credit Counseling

Always Read the Fine Print

Homeowners selling homes under a short sale scenario should be concerned about the pay-off agreement that they recieve from their lender prior to closing. Most important is that homeowners be released from future responsibility for the deficiency on the loan.  The deficiency amount is the difference between the amount that is owed and the amount [...]