Short Sale vs Foreclosure

Short Sale questions answered-Tampa, Fl

What is a short sale?  A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed. Right now in Tampa one half of all homes on … Continue reading Short Sale questions answered-Tampa, Fl

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Investors Face Tax Liability on Short Sales-Tampa, Fl

Investors Still On Tax Hook  (Tampa Tribune (FL) (KRT) Via Acquire Media NewsEdge) For homeowners in trouble, a short sale can be a lifesaver. Lenders allow a house to be sold for less than is owed on the mortgage and then write off the rest. The homeowner just walks away. Unless the owner is an … Continue reading Investors Face Tax Liability on Short Sales-Tampa, Fl

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Short Sales vs. Foreclosures and its effects on Credit…. Breaking the myth

Short Sales vs. Foreclosures and its effects on Credit…. Breaking the myth There has been so much misinformation out there on the process of Foreclosures and Short sales; that I asked Katie Cook Hughes, Sr. Loan Officer at Prospect Mortgage in Tampa, Fl to clarify the situation for us!                  I think that many sellers have been … Continue reading Short Sales vs. Foreclosures and its effects on Credit…. Breaking the myth

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