Posts tagged as:

Short Sale

Why Loan Modifications Take So Long and What to Do

by Moe Bedard

Q: I went under contract to buy a house six months ago. This is a short sale, and I understand that multiple lenders are involved. But I have been more than patient. What can I do?
I can’t seem to get anyone to listen to me. Don’t the banks want this to work out?
A: I’m sure [...]

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Obama Administration Expands Loan Modification Plan

by Moe Bedard

“If a modification is not possible, we are also announcing steps to encourage the quick private sale or voluntary transfer of property, which will save homeowners money and protect their financial future,” Geithner said. “These are critical steps in stemming the foreclosure crisis and stabilizing the housing market.”
Homeowners  who do not qualify for a loan [...]

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America Underwater: Growing Number of Homeowners “Upside Down” on Mortgages

by Moe Bedard

With falling housing prices in nearly every market, the questions that homeowners are asking have shifted. Instead of asking “what is my home worth?” they are now asking “Is my home worth it?”
These problems are affecting the entire country, with nearly 1 in 6 homeowners owing more than their home is worth. For homeowners who [...]

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Real Estate Short Sales the Right Way with Loan Safe

by Moe Bedard

By Moe Bedard
If you find yourself in a difficult real estate situation where your home and loan is upside-down, don’t fret, a short sale might just be the answer to help cure your mortgage woes. In today’s market, it is imperative that you take a step back from all of the noise to reflect upon [...]

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IRS Tax Laws on Short Sales

by Moe Bedard

Disclaimer: I am not an accountant or an attorney. It is important to consult with a professional tax attorney or accountant when considering the implications of the law regarding your individual situation.
In order to avoid home foreclosures, which can be complicated and lengthy, banks often engage in negotiations with borrowers. A short sale occurs when [...]

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Safe Tools to Help You Through the Foreclosure Process From Loan Safe

by Moe Bedard

By Moe Bedard

The foreclosure process moves fast and in order to make it through this unforgiving time frame, you need to have a plan. The best mindset for anyone in this situation is to hope for the best and plan for the worst because there are no guarantees of success when attempting to negotiate with [...]

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The IRS on Shorts Sales, Foreclosures and Debt Forgiveness

by Moe Bedard

He said, she said and then the IRS said. Who are you going to listen to?
From the The IRS on Shorts Sales, Foreclosures and Debt Forgiveness
Update Feb. 4, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their [...]

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Fannie & Freddie Offer More Carrots (Cash) for Servicers to “Try” and Entice Them to Help Struggling Borrowers

by Moe Bedard

Cash is king and when it comes to helping people in need, cash seems to light a fire under people’s arses to make them help a little bit more than they would if there were no cash incentives involved.
This is the “new” American way, right?
The facts are that it costs a servicer more money to perform some type [...]

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Lenders are delaying deals that could save everyone – including the lenders themselves – a lot of time and money.

by Moe Bedard

NEW YORK (CNNMoney.com) — Banks say they want to help troubled homeowners, but they are delaying deals that could save everyone – including the lenders themselves – a lot of time and money.
Lenders are taking much longer than necessary to approve short sales, according to Duane LeGate, of House Buyers Network, a short sale specialist.
In [...]

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Example Harship Letter

by Moe Bedard

(Example Harship Letter)To Whom It May Concern:I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to [...]

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LoanSafe.org Stop Foreclosure Forum

by Moe Bedard

I just wanted to keep my stop foreclosure forum in front of people. If you are a homeowner that is late on their mortgage, need a loan modification, loan workout, repayment plan, short sale or anything, then just visit my forum and tell your story and I will help you for FREE!
www.LoanSafe.org the place where [...]

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Avoiding Foreclosure With a Short Sale

by Moe Bedard

Avoiding foreclosure with a short sale is starting to become very common. With the surge of delinquencies and defaults coupled with properties that are maxed out on loan to value have left lenders little options. It only makes sense to work with people and not foreclose on them.
A short sale is when the lender will accept [...]

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