Even if you have a property lost due to foreclosure or short sale and you might feel relief from being out from under your mortgage obligation, the cancelled amount must be included in your income tax reporting depending on circumstances.
Homeowners, excited about lowering their mortgage rate by refinancing, have a tendency to ignore the costs because they are rolled into their new mortgage. If there’s no money out of pocket and the payment is lower than what they’re paying, it often seems like a good deal.
Are you a buyer looking to purchase Fairfax, Va real estate or other Northern Virginia real estate? Actually, anyone looking to purchase a new home with an FHA mortgage loan needs to be aware of some changes on the horizon for mortgage insurance premium (MIP) requirements.
Are you thinking about refinancing your Northern Virginia real estate? It all depends on your current loan situation, and what your future plans are for your home.
Fairfax VA – A recent article in the Sun Sentinel described a situation in which Bank of America foreclosed on a paid off home. Here’s an excerpt: When Jason Grodensky bought his modest Fort Lauderdale home in December, he paid cash. But seven months later, he was surprised to learn that Bank of America had […]
Fairfax VA -Debt collectors have a tendency to get pretty mean when someone gets behind on their payments. The constant barrage of threats, demands, and phone calls can become really overwhelming – leading many people to simply give up. Debt collectors have a difficult job, which is probably why they’re so mean. Still, I have […]
Fairfax VA – Here is a little known secret when it comes to foreclosures: Many lenders will reject their borrower’s loan modification application and then foreclosure on the house, selling it to the bank. What they don’t realize is that they lose more money in doing so than if they would have just excepted the […]
Fairfax VA – It’s possible to get your life back on track after a Fairfax VA short sale. The first step you’ll want to take is to start repairing your credit. But what about those pesky collections that never seem to go away? I’ll show you a couple of techniques here. This will help you […]
Fairfax VA -It can be overwhelming to face an upside down mortgage. You might just be tempted to walk away, mail your keys to the lender and move out. But before you give up, I have some important information to give you: You should stay in your Fairfax VA house for as long as possible. […]
Fairfax VA -Many people don’t want others to know when they’ve decided to short sell their Fairfax VA home. They feel like the process is somehow shady or dishonest. I’m here to tell you that that notion couldn’t be further from the truth. A lot of the people short selling today never had a blemish […]
