A rental property owner wants to sell his property by way of a short sale. What are the tax ramifications of doing so, considering a receipt of a 1099 form and/or does the IRS insolvency rule apply…Continue
Retired Short Sale seller is moving across the country, has a Green Tree first loan. Will not be late on payments but has to sell below loan amount. Had refinanced about 5 years ago so got his equity out.Can't sell his property at current list price so may have to do a short sale. My concerns are: 1) will a lender let him purchase with a new conventional or VA loan following this short sale since it is an out of state move (not a work transfer) and payments are current and 2) will GreenTree…See More
Broker, Principal broker of Lucas & Associates Realty located in N. Glendale, AZ, covering all of Maricopa County. With more than 30+ years in real estate I have listed and sold residential, income and commercial properties and, of course, in the past few years sold many "short sale" properties and foreclosures. I have a strong background in finance having simultaneously worked as a loan officer for many years. This I find helpful always when working with the lenders. I work diligently to help my clients with their real estate transactions with as little stress to them as possible. All my short sales transactions thus far have closed, while my hair is turning gray from it all! A positive and "can do" attitude gets me through it.
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