Local and nationwide daily real estate related news from official sources and blogs of real estate professionals.

Short Sale's are becoming quite popular and extremely lucrative for sellers- Part 3

Posted August 18th, 2008 by Joel Schmidt
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If you are wondering what to do because you are behind on mortgage payments but still want to sell, there is still hope for you. Short Sales are a GREAT way to still sell even if you owe more than what the market is showing you you could sell for. Just a few things to think about..

Your first step when deciding whether this is the right decision for you is to think carefully about your future plans. By doing a short sale you are subjecting yourself to having a mark on your credit report stating, "account settled". 

Short Sale's are becoming quite popular and extremely lucrative for sellers- Part 2

Posted August 12th, 2008 by Joel Schmidt
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Wow. Short sales. What a good topic. Our good buddy President Bush has passed a law just recently that has helped the homeowner not have to pay the difference between what you owe the bank after what you sold the property for and what you owe the bank. The law now states that, " any person that forecloses on a property or short sales a home, is NOT entitled to pay a 1099 for the difference, call The Joel Schmidt Team.com to learn more about this..