Christopher Smith
This Proposed NY Senate Bill Scares Me!
https://www.nysenate.gov/legis...
The above bill is very concerning to me. I have diligently paid off most of my mortgage debt and now rely solely upon rents from my very modest portfolio of properties. How can it be...
Markeilsha R.
Negotiating the forgiveness of a 2nd mortgage (non foreclosure)
Hello,I'm working a sub2 deal in PA where the owners are eager to move and willing to sell the property for what they owe. The property is in excellent condition (only 9yrs old), they just would like to get it off th...
Andrew Hoek
House Approves Short Sale Tax Break
Following the housing bubble of 2006-2007, Florida experienced a surge of foreclosures and short sales. A short sale is the sale of real property for less than the amount owed the mortgage. Short sales are subject t...
Tony Cavalli
Shorter wait time? New law?
http://money.cnn.com/2012/04/19/real_estate/short-sales/index.htm Has anyone seen any results from this supposed new law to help make the Short Sales process quicker?
David Carreno
regarding taxes on short sale
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 wou...
Paresh Patel
Is there a tax deduction for loan default interest not-paid?
Hello. I would like to pose a question relating to the tax treatment of Loans made though any of the leading Real Estate Crowdfunding Portals that go into Default.Many of the CF sites may reasonably be expected to ev...
Eric Lawson
Buying the Property from a NPN
Hi all, Here's a highly simplified hypothetical situation. Let's say I buy a 1st NPN for 20k with an UPB of 100k and it's the only lien on the house. What's stopping me from forgiving the debt and paying the owner say...
Jack Bobeck
Can you legally rent the house back to the shorted owners?
I thought I had heard it all, but my father just purchased a short sale home and the owners asked their realtor who asked my father's realtor if they could rent the house for 3 more months after the sale date?
My imm...
John Mireles
Walking Away from an SBA Loan?
Has anyone here ever defaulted on an SBA 504 loan. How is it dealing with Colson's Servicing? Did they attempt to enforce the personal guarantee? Was bankruptcy required?
How about a short sale? How was that handled?...
Arthur Means
75k Cash: Pay off student loans or use for a mortgage downpayment
Hey all,New here. I am hoping some of you can help provide clarity to my situation. I currently own two homes. One is a rental with about 40K in equity. The other is our residence with 75K equity. I am in my earl...