A couple of days ago, someone found this blog using the search term "do it yourself help +short sale". Yikes. Here's the deal. If you want to "go FSBO" -- ie: sell your home "For Sale By Owner" -- more power to you. As a real estate agent, of course I'd prefer for you not to go that route. I don't think selling your single largest asset on your own is a good idea, but that is a whole … [Read more...]
Short Sale Tax Relief: Update on the Mortgage Forgiveness Debt Relief Act / Mortgage Cancellation Relief Act
by on December 20, 2007
Disclaimer: I am by no means an attorney, a tax professional, nor a politician. What follows is my interpretation of the Mortgage Forgiveness Debt Relief Act of 2007. As always, consult your attorney and tax professional for specific questions! And if you think it will help to consult your politician, well... knock yourself out! My recent post on the Mortgage Cancellation Relief Act generated … [Read more...]
Short Sale From Hell – The Saga Continues…
by on November 20, 2007
Last week I posted The Short Sale From Hell -- about the trials and tribulations of dealing with a short sale, and in particular the lender, Ocwen. On Friday, the deal closed. Ocwen got their money, and I got my (substantially reduced) commission check. So all is well, right? Well . . . not so much. Sadly, the buyer agent's broker requires a signature from Ocwen on a document before he will … [Read more...]
The Short Sale From Hell
by on November 12, 2007
Several words come to my mind when I hear the words "short sale". Several aren't fit for print... others include headache, excruciating, and "I quit". A "short sale" is one in which the proceeds will not cover the owner's loan(s). The lender in other words, isn't going to get paid the full amount they are owed. They are going to be "shorted" on the loan obligation. One of the short sales … [Read more...]
I'm Jay Thompson, and I have a little blogging problem... 
