The home short sale has long been regarded as a lifeline for borrowers facing foreclosure. One of the main consequences of short sale is tax. When your debt is cancelled by bank the government takes it to mean that you earned money from the short sale process. The IRS records the amount forgiven on a short sale as part of the seller’s income. But it can be avoided. This article presents a quick guide to deal with short sale home taxes.
Choosing a Short Sale Realtor
There is no doubt that a short sale is not your run of the mill Real Estate transaction. Anyone who has ever been involved with one as a listing agent knows there are a lot of hoops to jump through. What makes a good agent different from the bad? Here are some questions you should ask to see if a realtor is right for you.Deadly Mistakes New Investors Make in Short Sale Investing
If you’re after a quick profit short sale investment can be prove a good financial move to you. But you should keep in mind the fact that you have much to lose if you make a wrong move. So be careful while investing in a short sale home. The article presents some common mistakes you should watch out for.How the New Short Sale Rules Will Help Sellers
The Home Affordable Foreclosure Alternative (HAFA) program has introduced new short sale rule in which borrowers must be approved for short sales before putting their home on the market. Before this short sale rule, many borrowers would list their homes without knowing whether or not their lender would accept their terms.