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Foreclosure and Short Sales Blog
The best buys on homes in Virginia, Maryland and DC
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20th January, 2012
What’s the tax considerations of a short sale?
We’ve been helping people all around the Northern Virginia area, Maryland and Washington D.C. to avoid foreclosure, to do short sales and one of the questions that I’m often asked is, “What’s the tax considerations of a short sale?” I’m not an accountant and I’ll definitely refer you to an accountant to understand that but there’s something else that you can do. You can just Google the “Mortgage Forgiveness Debt Relief Act of 2007″, which will direct you to the IRS page about short sale debt relief that goes through all the considerations that you may or may not have, and likely you want to have consideration but again you can talk to a tax accountant about that or a CPA.
One of the things that you should know is that at the end of 2012, the way that the law currently stands is that the Mortgage Forgiveness Debt Relief Act of 2007 will expire. At the time that you are watching this, that may or may not change but again, we don’t know, I mean, we know the current resources and how the government works and there’s no knowing if people that are putting their properties in the market of short sales at the end of 2012 are going to qualify for this or not. So I suggest to talk to a short sales specialist to see what the current updates are in regards to that law, if it’s still in act or not and if it’s going to be able to help you to avoid any potential taxes. If you have any specific questions, go ahead and give me a call on the number on this web form or fill out the information on the page and I look forward to helping you. Thanks!
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19th January, 2012
Stop Foreclosure. We Help Clients in Virginia, Washington and Maryland Area Do a Short Sale.
We specialize in helping people at the Virginia, Maryland and Washington D.C. area, who are upside-down on their mortgage and need to short sale their homes. We specialize in helping them to be able to sell their homes and negotiate with the banks to forgive some or all the deficiencies. We’ve helped short sale clients in Annandale, Virginia, Alexandria, Arlington, Herndon, and all across the Northern Virginia area, as well as short sale clients in Maryland, Bowie, Glen Burnie , Rockville, Gaithersburg.
If you’re located in Washington D.C. Maryland, Northern Virginia, you have a home that you’re upside-down on your mortgage, you need to sell it, contact us now and we may be able to help you.
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18th January, 2012
How long does it take to do a short sale?
We’ve helped people avoid foreclosure and do short sales in all areas around Northern Virginia like Burke, Annandale, Vienna, Herndon, Alexadria. We’ve also helped people across areas of Maryland do short sales in areas such as Rockville, Gaithersburg, Bowie, and other areas.
How long does the short sale process take? The process is getting more more streamlined and taking less time than it used to. We’re finding 90 days to 6 months is pretty typical for the short sale.
How long it’s going to take and it really depends on what bank you’ve been working with. Bank of America, they’re one of the best to work with today in regards to short sales. Their process is pretty streamlined, Wells Fargo is pretty streamlined as well, Citibank, and some of the federal credit unions, it really depends who you’re working with and what their processes look like. It also depends on how many trusts are there on the property and if there is a mortgage insurance company that’s involved.
To figure out specifically what your situation may be, because each situation is different go ahead and contact me now. See if you are ready to put this behind you. Call the number on this web page or go ahead and fill out the contact form right now and we look forward to helping you put this behind you.
We’ve been very successful in the Northern Virginia and Maryland and Washington D.C. area to help people avoid foreclosure. We would be happy to help you as well.
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17th January, 2012
Should I pay my HOA while doing a short sale?
Dan Rochon with Keller Williams Realty and greetingsvirginia.com, serving Virginia, Maryland and Washington D.C. short sales talks about if you should pay your homeowners association dues on your property in Virginia, Maryland or D.C during the short sale process.
If it’s a choice between a small HOA payment and a larger payment that may go to something else and you on have, say $1000 and there’s a $1500 mortgage bill and there’s $200 HOA fee, it probably is more appropriate to pay the HOA fee
If you can possibly do so, pay the HOA fee and really the reason why is because, generally it’s a smaller payment and it’s seldom that is unmanageable for most of our clients and it’s removed one potential obstacle of the short sale process that really frankly that we don’t want to add on up because this is really a difficult process and challenging.
If you have questions about your situation, about your specific homeowner’s association or about anything in regards to short sale in Virginia, Maryland and Washington D.C., go ahead and call the number on this form or fill up the information form and I’ll be happy to answer your questions.
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14th January, 2012
What are the top real estate blogs?
I often read and educate myself about real estate. I have found some of the best real estate blogs in the country. These real estate blogs are updated regularly have great content that is relevant, and written by people that I respect.
These are some of my favorite real estate blogs (in no particular order):
Top local real estate blog:
Phoenix Real Estate Blog Jay Thompson writes this blog about real estate. Jay wrote the first blog post on ActiveRain and has been writing great content about Phoenix real estate on his own site for a very long time. In my opinion, this is one of the best blogs about real estate in the country.
Top national real estate blog:
Bigger Pockets Blog Bigger Pockets is an online real estate magazine written by many authors and contributors. Posts about real estate professionals and investors with a focus on Networking, Deal making, and Education can be found here.
Top short sale blog:
The Short Sale Guide Without doubt, this is the top resource of short sale experts collected in the country describing their real estate experience with short sales. This site was founded by my friend, Mike Linkenauger and shares stories about the short sale process from some of the best short sale specialists in the country.
Other top real estate blogs worth checking out:
These blogs are each worth checking out:
NY Short Sale Blog J. Philip Faranda writes this blog from the trenches of short sales in Westchester County, New York.
Short Sale Artisian There is much talk about the art of short sales written on this blog (and YES, short sales are an art!)
Short Sale Blogger There are great tid-bits about short sales and the short sale process that you can learn on this short sale real estate top blog.
Top real estate blog in Virginia, Maryland, and Washington DC
Greetings Virginia Blog That’s us 
Writing about real estate in Virginia, Maryland, and Washington DC. Specializing in short sales in these areas.
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