All Forum Posts by: Tony Lessan

Thanks James.

When the lender states that they will waive the deficiency on the acceptance letter, I understand that the lender can still submit the settlement to tax authorities (state & federal). Is the seller liable for the shorted difference as taxable income if its not their primary residence?

Also, does the waiver of deficiency on the acceptance letter apply to the mortgage and promissory note?

Thanks!

Hi Felix, is that the wording you use on the P&S contracts to waive the deficiency collection?

Nice. Thanks for the reply Corry.

Hey folks - was wondering if anyone has ever used ForRent or Renter websites as a marketing tool to source Landlord investors?

Appreciate the input, thanks!

Hey guys, when I'm placing a short sale purchase offer and I state the acceptance deadline for one week does that in any way discourage the lender from responding with a counter or otherwise?

Also, what kind of proof of funds will banks generally accept and favor (hard money letter, bank statement, etc)?

Appreciate the input,

Tony

If the short sale package and purchase offer is approved with the "waiver of deficiency judgment" can the seller walk away without any recourse from the bank?

Could the bank also submit the difference from what is unpaid as income to IRS and state with the waiver agreed to?

I appreciate your input, thanks.

Tony

Here's an interesting article about the housing market for investors and homebuyers.

[COPYRIGHTED MATERIAL REMOVED]

Full article: http://news.move.com/phoenix.zhtml?c=192403&p=irol-newsArticle&ID=1353929