Mortgage Forgiveness Debt Relief Act &Debt Cancellation
As long as the Owner utilize the property as their Residency the debt "WILL" be Forgiven.The form that they would use during TAX season is called Form 982 "Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Adjustment)." If you need to verify go to the IRS website or call them up.
Here is a link from the IRS:
Real Estate Constultant License!
New Law for Doing business CT!
This is Great! Finally New Law was passed that All Real Estate Consultants Negotiating Short Sales Etc. must be licensed in Connecticut! After October 1, 2009 any new deals After that date…. This is Great keeps away the people that are Scammers and have no clue what there doing. And for Us to have a Licenses to back us up!
The Bill is 950!Check it out!!!
Families in Crisis!
MAKING HOME AFFORDABLE.GOV
Preview:MAKING HOME AFFORDABLE.GOV
Ok Obama passed this bill to help families...
Well a Loan Modification for those who are unaware takes three months due to the Mortae Crises it can take between 4 to 9 months. Loan Modifications has always beed around since Mortgages have been around. It is unfortunate people were unaware! A loan Modification is not a uarantee (per banks) but has lon has your debt is not more than your income anyone can qualify.
Home Affordabilty Plan " has Always been around" it is just that they put another name to it. (Loan Modification,Loss Mitiation,Forebarance,payment pland,deferments,hort... continue reading >>