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WASHINGTON – Jan. 9, 2012 – You may owe federal income taxes in 2013 if you have a short sale, foreclosure after this year. Now is the time to make the hard decision: Are you going to walk away from your underwater home? Uncle Sam is still giving homeowners until Dec. 31, 2012, to go through a short sale or foreclosure without tax ...

  As the foreclosure crisis continues to affect the real estate market, many troubled homeowners, and even some realtors, may not fully understand the severity of a foreclosure. In a foreclosure situation, the mortgage lender is a secured creditor which has a piece of collateral securing its debt. In this case the collateral ...

Image via WikipediaFlorida’s existing home, condo sales up in January   ORLANDO, Fla. – Feb. 23, 2011 – Florida’s existing home and existing condo sales rose in January, according to the latest housing data released by Florida Realtors®. Existing home sales increased 14 percent last month with a total of 12,151 ...

Sales surge in December 2010 and prices remain stable     The Sarasota real estate market saw a big surge in December sales, from 534 in November to 681 last month for a 27.8 percent increase. In addition, the median sales price for both single family homes and condos was up in December 2010, indicating a recovering local real estate ...

WASHINGTON – Dec. 2, 2010 – Pending home sales jumped 10.4 percent in October, showing another positive uptrend since bottoming in June, according to the National Association of Realtors®. The Pending Home Sales Index (PHSI), a forward-looking indicator, rose to 89.3 based on contracts signed in October from 80.9 in ...

WASHINGTON – Nov. 1, 2010 – The financial crisis and ensuing recession apparently changed the mindset of Americans toward their homes, turning what long has been the American Dream into just another financial investment. The result, strategic defaults – people walking away from the property and mortgages not because they have ...

Once you fall behind your mortgage payments, you would be confronted with certain repercussions. For one, you might be on the verge of losing your home. Other home owners in a difficult position like you are in dire need of rescue on what to do to save their home or at least be free from debt. Your option then is to sell your home. But ...

Over the last several years, short sales have received a substantial amount of attention. This type of transaction is done when the seller owes more on his or her mortgage than the value of the property. The lender essentially agrees to accept less than the balance owed as an alternative to foreclosure. On the surface, a short sale ...

“Take Control of Your Mortgage” will be the subject of a free seminar for homeowners facing foreclosure on Saturday, Feb. 27 from 10 a.m. to noon at Colonial Oaks Park, 5300 Colonial Oaks Blvd. Panelists will include: Xena Vallone of Xena Vallone Realty; attorney Kenneth Chapman Jr. of Chapman, Chapman & Chapman and CPA ...

Not every troubled mortgage makes for a good Short Sale opportunity. There are things Investors must look for with regards to the homeowner, the house and the Lender to determine if a Short Sale is appropriate. Here are a few key factors. The Home Owner: Is the homeowner cooperative? It is much easier to get a homeowner who is eager to sell ...