Hello Group,

I have a short sale that was approved, however the bank (via pmi) is asking the home owner to sign a promissory note of $50k. The negotiator told me that we have 2 choices either the seller signs the ...

We have been trying to sell our home for almost three years. We finally decided to cut our losses and have a buyer offering approximately 85K less than we owe. Our loan originated with Countrywide and is now with Ba...

Hey BP Folks,So I am just trying to understand why I've seen so much debate on why some people would rather get a non recourse loan vs a recourse loan...Especially when non-RC are worse terms, higher rates/fees etc..A...

How does one account for seller concessions from the HUD-1?  Is that amount subtracted from the basis, or is that money allocated proportionally to each item in the closing costs it covered?Also, if there is a Lender ...

I short sold a non-owner occupied SFR in November. The loans were with Nationstar (transferred from Aurora, my original lender) and Bank of America. I received my 1099-C from BofA but not Nationstar. Called them to...

I invested in the Florida market right at the top and now need to short sell several properties. Additionally I have been hit with deficiency judgements on the two properties that went back to the bank, both for ove...

Tenant moved out before court date. There's $800 water bill unpaid.Now what? PM said eviction case was dismissed as tenant moved out. So there's no 2nd cause court. I need to file a case at small claim court. Is that ...

Hello Folks, was curious to see what the tax consequences are if you have an investment property foreclosed.

Are you taxed the following year on the full amount of the debt? Are you taxed on the differential between...

I was told recently by my realtor that all short sales she has seen closed resulted in the seller having to come to the closing with a promissory note.

We lost a recent deal due to this. Do most SS result in this? If...

I have a friend who is willing to be the guarantee on a HML for me so I can get better leverage/terms. His only contribution to the project will be his credit score but obviously he’ll be on the loan. I’ll be bringing...