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The Truth about Simultaneous Closings "Double Closings"

Date: 03/13/2008 / Category: Business Strategies , Current Grade A

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The Truth about Simultaneous Closings "Double Closings" This question has come from several investors lately, all confused about the many definitions and opinions of how to perform a Simultaneous Closing. I have seen the term used recently by note buyers explaining the use in the sale of a note during a double closing. The term has been used for about two decades defining the process of consecutive closings in the purchase and resale of a property. Normally, the process has been used to buy and sell a property without having the necessary cash for an actual... continue reading >>

New Short Sale Legislation

Date: 11/15/2007 / Category: Finance and Credit , Current Grade A
New Tax Law May Help Short Sale Sellers: The House of Representatives on Thursday overwhelmingly approved legislation providing tax relief to homeowners facing a foreclosure. Under the bill, which was approved by a vote of 386-27, any debt forgiven to homeowners unable to repay their mortgage would no longer be treated as taxable income. To cover the roughly $2 billion 10 year cost of the bill, the bill would change tax rules on the sale of vacation homes and rental property that were used as a principal residence. The bill now heads to the Senate.
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