How about this, a foreclosure can hurt you if you ever need a security clearance for a job, whereas a short sale will not matter. On a short sale you can buy a house after two years and in some cases will only effect your credit report about 50 points. In some cases the bank [...]
Post Tagged with: "Reno Short Sale Expert"
Mortgage Forgiveness Debt Relief Will Expire this year
The mortgage debt relief act of 2007 says that a homeowner has the right to have forgiven debt cancelled for tax purposes. Meaning the amount that your bank writes off during the short sale process cannot be taxed as income. Normally on forgiven debt the bank is required to issue a 1099-c, “cancellation of debt” [...]
How Soon Can I Purchase After a Short Sale?
Over the last four years many home owners have short sold their home for various reasons. For those home owners that short sold their home, your wait time can be as long as 7-years from the completion date of the short sale before you are eligible for a mortgage loan. Conventional, FHA, and VA loans [...]
“Why would anybody want to buy your home?”
Why did you buy it? Take a hard look at the positives and negatives of your home. There are certain search parameters that buyers are looking for and backing to a busy street or in the flight path of the airport are not two of them that buyers are real keen on. It is all [...]
Loan Modification, “Yea Right”
Imagine millions of trains on a head on collison course with each other, this represents the magnitude of homeowners facing foreclosure over the the last 5 years. The government had to get some of these trains off of the track, they did it under a program called HAMP (Home affordable modification program). Also known as the [...]
Your bank just stopped negotiating with you, why?
You have been in an exhaustive negotiation with your bank trying to get a short sale done on your home. And then for no apparent reason the bank takes a hard stance on their price and pretty much says take or leave it, “what happened”? Well one explanation could be is they have insurance on [...]
Hughes
As a top Realtor in the Reno Sparks area since 1984, Dave Hughes has learned what it takes to stay on top of the market during these turbulent times. He has also been a leading Residential Realtor with Dickson Realty since 1988. In todays market you need someone who uses technology to take advantage of the [...]
