After Foreclosure, is it a good idea to do short sale in the redemption period:

1. My house is foreclosed in the month of November, Now I am in the 6 months redemption period. On the sheriff sale date, bank re-purchased with FULL PRICE. What I understand is in Michigan if bank purchased the lone with full price I am not woe any thing to bank. But do I have to pay any tax to IRS for the difference amount?

2. I have a buyer willing to buy the house for short sale,…

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In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale.



Which means that you are probably upside down on the home. You have three options.



Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the…

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This lovely home in the Steeplechase subdivision, Crestview, Florida, has just been approved for short sale. Bank of America took 90 days to approve the sale. The delay was caused by Bank of America automatically putting the short sale into the…

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Loan modifications have become a joke. People get turned down for no reason at all.







People really want to keep their home, but just can't figure out what to do. The loan modification negotiators realize how desperate the homeowners are. They use their power over the person to take an ego trip.







Discover how other sellers successfully did a short sale to avoid foreclosure by clicking… Continue

Chase is getting better as a short sale servicer. They approved an Ariel Dunes, Miramar Beach, Florida condo short sale in 45 days!…

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The big banks made mistakes and received a bailout. They have the resources to lobby congress and the courts to have laws written to suit them.









But, what has the little guy received? Nothing. So we decided to put together a Homeowner's Bill of Rights. It's time we had Washington look at what we want, versus taking care of the big… Continue

We have run into problems with lenders being unrealistic with property values. No matter what we provide or try to explain, the banks reply with a number too high for us to get any sort of activity. They have denied requests for re-evaluation and our Sellers are forced to wait it out until they foreclose. Providing very current comp sales, explanation of the…

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"Please explain me the details of a short sale, or other proposal that you can bring to my case. "

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We are proud to say that another of our short sales listings has received an approval on the submitted short sale contract. This …

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Bank of America and Harris Real Estate University are…

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Wiki leak's Editor, Julian Assange, recently said he would be releasing documents on a large US Bank. We decided to beat him to it and release some information on how a large US Bank caused their client to lose an estimated 40k because of their… Continue

Ok In the last 2 weeks have had 3 BPO's or Appraisals come back 20,000 to 30,000. over the market comps,and lenders asking for 88% of the amount to there Net. Which is higher than any comps even in the last year here in Nevada.
Anyone one else seeing this new trend starting to happen?

So, I know- short sales can be like taking the widing path to what could be something so straight and narrow. In fact, Peter Sharp and I have been helping many folks avoid foreclosure even before it became popular to do so.

And although it seems difficult enough to have to make sure every part of the contract is complete - which sometimes takes a great deal of effort on our part to get the info. from the seller, to making certain that although we have a new negotiator every week, we…

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We recently negotiated a short sale on a VA Loan. After the appraisal is complete and all the other necessary document have been received, VA guidelines state the loan servicer should give us an answer within 15 days.





The loan servicer took 65 days to give us an answer. That is a complete violation of VA’s requirements. “Oh, but that’s no big deal”,… Continue