When doing the short sale with the lender the shortage does not just go away. Depending on the lender they will determine if you will get a 1099-C or that you get a deficiency judgment against you. A 1099-C is an income form for the shortage that you will have to claim as income since…
There are documents that need to be gathered to get the process in full gear. Keep in mind you are asking for a loss from the lender on a purchase you did in the past, a mortgage that you agreed upon prior so the lender needs all the verification again as too why you feel…
You will need verification of your economic condition prior to getting the process started. You will need to write a hardship letter that states why you feel that you need to do a short sale. Also if you are having an outside party assist in the process you will need to put it in writing.…
With today’s tight economic conditions mortgage payments are stressing many families to the brink of either foreclosure or bankruptcy. There are other options available to you as a consumer out there. Loan modification is actually a good option if you are planning on staying in your home. This is where the Mortgage Company will work…
Here we are at the beginning of another year 2010. The past is now behind us and everyone is planning for a better and more prosperous new year ahead. Here at PrimeSouth Properties we specialise in New Construction and resale Real Estate. We can find you the property that you are looking for and design and build the…
Adiron Woods is an 83 unit located 4 miles east on HWY 90 and left on. Walden Road and subdivision is located on your left. The homes range from 1700-2600 square feet. William Dean Homes has 12 lots left in the subdivision to build on. Our Prices start at $210,000 for our Sassafras model. It consist of 3 bedroom 2…
Today’s real estate industry has taken a major change over the past 24 months and will probably be taking a bigger change in the months to come. We have seen prices decline considerably from what they were 2 and 3 years ago. The amount of short sales and foreclosures has increased drastically. Today’s economy has…
As we all know the $8000 tax credit is runnin out as of Nov 30th 2009. This does not mean that it is the end of the world for great savings. We have seen that with the market at an all time decline Now is definitely the time you want to purchase a home. There are great…
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