In our blog earlier this month we included legislative contact information so that you could let your Senators and Congressmen know how important you feel it is to extend the taxable income exclusion for forgiven debt on your primary residence. That exclusion was originally part of a tax relief package begun in the Bush era…
Often we get emails like this one on our website: “My home was recently foreclosed on 8/6 during my short sale process. At the time I had 3 offers the last coming more than a week before the sale date of which was not given to me until 2 weeks prior. My realtor insist I…
At first this sounds like great news for consumers. In reality, the only good news for consumers is that we live in America where you have the freedom to make risky choices. Only a decade ago you could buy more home than you could afford by paying just a little higher interest rate using a…
We try not to wander too far afield into the political end of things. But sometimes you just have to give credit where credit is due and point out some of the obvious consequences of laws affecting lenders, borrowers, default, and legal ramifications. Dodd-Frank and the ensuing Quality Management or QM regime enforced upon the…
For many of our short sale clients, they waited a little too long to get our help. Nothing breaks our heart more than to interview a new client at the 11th hour and find that the normal techniques for avoiding foreclosure will not work. Most of these negotiated course changes take a few days or…
The American Dream refuses to go away quietly in the night. The aspiration for home-ownership has survived even the dismal recession whose tentacles began to appear in 2007 and a few of which linger to this day. One of our lawfirms’ great celebrations occurs when a short sale client returns to buy their first home…
Yes Virginia, there really is a Santa Clause! In some cases, Sellers can get out of an upside down residence or investment property without a short sale. We naturally encourage shortsales because: (1) less damage to your credit than a foreclosure, bankruptcy or ongoing loan payment default; (2) The client experiences Closure as compared…
Whether it was Perry Mason, LA LAW, or an actual relationship with an attorney, most of us have stereotypes of attorneys. Not only attorneys in general, but the way you think of an F. Lee Baily or Johnny Cochran type litigator is probably not the same way you feel about a Tax Attorney. When you…
Perhaps no other profession in North America is in more dire need of respect and appreciation than that of realtor/real estate agent. Setting aside the jokes about the world’s 2nd oldest profession, even early caveman needed an “MLS” and an efficient way to evaluate all the important aspects of a prospective cave’s suitability to the…
We often have clients ask us what to do with a deceased parent’s real estate that was “under water” or requires a short sale to be able to sell it. Is it worth the effort, time, and potentially a little money to short sell a deceased parent’s home? There is no “one size fits…
