All Forum Posts by: David Carreno

Yes it is mate, it's the same one.
it's a rental. to sum it up it has been a money pit, and recently I experienced divorce and the loss a great portion of an investment so pretty hard financial hardships.
There is always a way out of things that I know so now I am exploring what's available to me or gather info from other knowledgeable people so I don't get scammed in the market place.
Thank gof for the advancement of the internet and people like you guys willing to share info

thanks a lot Richard this helps a lot.
I will ask the CPA, though, but thank you again

Hi, I am recently facing a possible short sale, the property is about 35,000 under the water and one thing a firm I talked to told me that if the bank accepts the offer and the short sale goes through, that that I would have to pay taxes on the remaining balance as if it were a capital gain, which makes no sense to me.
Anybody knows anything regarding the subject?
thanks

Hey everybody, here is a case for the creative forces of this community. Please feel free, like free-free and I mean really free to pitch in. :D
Ok so here is the deal, house is severely under water, according to several sources of preliminary appraisal, haven't run an actual one yet.
Appraised when bought 130,000
purchased 110,000 no money down.
Fannie Mae loan.
Current market value 75,000
7.35% total payment 1,036 (includes everything)
So refi is out of the question, my best bet option that I am working on so far is a loan modification, however a deed in lieu of foreclosure is also an option, as well as forbearance.
Best case scenario is to lower the payments so that I lease option it to the current tenant.
What I do not know is if there are tools or resources that I can use as leverage when dealing with the bank. Also I do not know how each option affects my credit score which I want to protect as much as possible.

Any thoughts anybody?
thanks

:D