Rules and Regulations

There are several bills that have been filed of interest in the 2015 Florida Legislative session related to real estate matters.

political correctness

We live in a sad time. America used to be known for its moxie, courage and strength. However, a disease has permeated America over the last 30 years that has made us a bunch of whimsical pansies: political correctness.

Loss Mitigation is the process of having a third party, like an attorney, to negotiate with the bank about your mortgage. The process is to help the bank agree to how much they are willing to lose in the process of helping you keep your home. 

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A short sale is an option available to you in the loss mitigation process. Sometimes, selling your home is the only way to avoid a foreclosure; but if your home has lost value, no one will want to buy a house that is worth less than they paid for it. So a short sale is when the bank agrees to accept less than you owe on the house, so someone would be willing to by it.

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More on Short Sales

Tuesday, 15 October 2013 by

When you do a short sale, there is a portion of your debt that is outstanding. If not handled properly with competent representation, it is possible that you can taxed on the difference forgiven, since it is considered income to you. So what are your options? Bankruptcy might have to be a consideration.

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