Short Sales Boosted Ahead
Short Sales Boosted Ahead
Loan Mods Cancelled
Loan Mods Cancelled
CO Short Sale Experts
CO Short Sale Experts
Streamlined Short Sales
Streamlined Short Sales
Sudden Evictions
Sudden Evictions
Owners Opt To Walk
Owners Opt To Walk
Avoiding Foreclosure
Avoiding Foreclosure
Wachovia Offers Cash
Wachovia Offers Cash
Scam Alert
Scam Alert
Successful Short Sale
Successful Short Sale
Home Prices Declining
Home Prices Declining
Aim To Ease Short Sales
Aim To Ease Short Sales
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Many People Are Not Aware Of The Mortgage Forgiveness Debt Relief Act

The Mortgage Forgiveness Debt Relief Act of 2007 is Expiring

Created by OnePlusYou

Example: before 12/31/2012, If you owe $300,000 and the property sells for $200,000. The  $100,000 difference in reported income is NOT taxable in most cases*


Short Sale or Foreclosure Before December 31, 2012  Short Sale or Foreclosure After December 31, 2012
 100K @ 0% = $0 in additional taxes owed to the IRS*  $100K @ 35% tax bracket = $35K in taxes owed to the IRS*
 This is Good
 This is BAD!


President Bush Signs H.R. 3648, The Mortgage Forgiveness Debt Relief Act of 2007. The bill is the single reason that Short Sales have been so successful WITHOUT HAVING TO USE BANKRUPTCY!

So what are other homeowners doing? Many homeowners that are considering a short sale or a loan modification have decided that instead of waiting for the market to come back they are opting to sell their house now and get out while the getting is good!  If you owe more than your house is worth, it will take years to break even. If you decide to sell your house BEFORE you break even, there will be debt that is settled by the lender. Pursuit of a short sale AFTER this deadline expires will be subject to additional tax liability.

 

 


http://www.atdenvershortsale.com/mortgage-forgiveness-debt-relief-act-is-expiring
 




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Over 520,000 people have been dropped from the HAMP Loan Modification Program

"How's that Loan Mod Going?"  More Than 520,000 Trial Loan Modifications Cancelled

Denver Short Sale Loan Modification cancelled

Over 520,000 trial loan modifications have been cancelled, including the 90,000 this month of June 2010. Only 364,000 borrowers remain in active trial modifications.

More than 40 percent of the trial loan modifications started under HAMP, Home Affordable Modification Program, were cancelled as of the end of last month, but permanent modifications totaled nearly 400,000, according to the latest Treasury report.

Of the 1,282,912 trials started, 520,814 have been cancelled, 364,077 are active, 389,198 are permanent, and the remaining 8,823 were permanent but subsequently cancelled.

The most common causes of trial cancellations included missing documentation, trial plan default, and ineligibility due to debt-to-income ratios already being below 31 percent.

Most who were cancelled were put in an alternative modification.

Bank of America now leads all servicers with 72,232 permanent modifications, followed by Chase with 54,722 and Wells Fargo with 44,628.

However, smaller loan servicers have been converting a larger share of their eligible 60+ day delinquent borrowers, thanks in part to the use of verified documentation.

Performance of Permanent Modifications

Delinquency data included in the latest report revealed that 4.1 percent of the 126,527 loan modifications made permanent in the first quarter of 2010 were already 60+ days late.

Another 1.3 percent are 90+ days late.

The numbers are 5.4 percent and 1.5 percent for modifications completed in the fourth quarter of 2009, and 10.5 percent and 4.4 percent for the third quarter of 2009, respectively.

While it's too early to really tell, the re-default numbers look lower than those tied to other modification programs.

truthaboutmortgage.com


 

 


http://www.atdenvershortsale.com/over-520-000-people-have-been-dropped-from-the-hamp-loan-modification-program
 




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14-year-old Florida girl buys distressed home

Blue House
Creative Commons License photo credit: 3rdStLA

 

A Florida teen just bought her very first home. After earning $6000.00 by selling items on craigslist, she saved up that money and bought a short sale property with her mother. "If there's one thing I want people to know, it's that your age does not matter. If I can inspire another person my age, younger, that would mean the world. Whether it's buying a house, buying a car, or whatever. If you really work for it and put your mind to it you can do what you want to do," she told ABC News. When Tufano learned that her mother, a real estate agent in Florida, was planning to buy the distressed property, she asked her if she could go in on the purchase with her. Tufano worked with her mom to fix up the home for its future tenants. When Tufano reaches the legal age of 18 -- will use her portion of the rental proceeds to buy her mom out, leaving her to hold the title herself.

When was asked if she would follow in mom's footsteps and become a Realtor, Tufano replied, "I'm not so sure about real estate, but investing is really cool. You get to see a property that was a mess before and afterward see that it's beautiful. I suppose with real estate you can connect with people more, but I would probably prefer investing."

 

Read the full article.

 


http://www.atdenvershortsale.com/14-year-old-florida-girl-buys-distressed-home
 




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Why Choose Realty Oasis For Your Short Sale

3X Better results:

Realty Oasis has a High Rate Of Success closing Short Sales

Most Traditional real estate agents are good at helping you buy and sell a home under 'ordinary conditions (even that is questionable).  Assuming that the conditions of the homes value has maintained or increased and the mortgage is in good standing.

However, a Short Sales transaction is not 'ordinary. They are complicated and require extensive lending institution cooperation and expertise in working with professional bank negotiations. In a high percentage of situations, a real estate agent lacks the expertise, time and persistence to wrk a deal over a long and unpredictable time frame. Thats why Realty Oassis's success rate in Short Sales is over 3X times better than that of a typical agent. 75% to 23%*.

Typical Real Estate agents, if they have handled any transactions at all, may have only completed a few Short Sales. Realty Oasis often completes several per month. Experience and expertise is criticall in making the process work. Before you work with anyone on a Short Sale find out how many Short Sales they have successfully completed.

* Rate calculated by applying Realty Oasis's  short sale closings percentage (excluding cancellations, bankruptcy or foreclosure) from 1-1-2010 to 1-23-12 compared with industry success rate of 23% based on a USA today Article.

Here is a sampling of all shapes,sizes,house,condos,and price ranges:

Sold Date Address Mortgage Debt Owed Short Sale Sold Price Difference
11/15/2011
123rd, Brighten $302,000 $175,000
11/04/2011 104th, Denver
$241,000 $103,000 $138,000

12/19/2011

Quay, Arvada
$405,000 $279,000

$126,000

12/16/2011

Albion, Centennial
$355,000 $172,000 $183,000

10/10/2011

Olive, Denver
$341,000 $175,000 $38,000

10/18/2011

Utica, Denver
$168,000 $120,000 $48,000

12/02/2011

Wadsworth, Lakewood
$363,000 $195,000 $168,000

10/01/2011

Krameria, Denver
$289,000 $260,000 $29,000

09/20/2011

Canyon Rim, Englewood
$181,000 $95,000 $86,000

09/02/2011

Big Cannon, Englewood
$621,000 $520,000 $101,000

12/09/2011

Ammons, Lakewood
$164,000 $138,500 $25,500

10/27/2011

Emerson, Denver
$404,000 $292,000 $112,000

08/22/2011

Dorado, Aurora
$291,000 $170,000 $121,000

10/17/2011

Eagle Run, Parker
$352,000 $255,000 $97,000

12/13/2011

Benton, Castle Rock
$202,000 $130,000 $72,000

12/29/2011

Paragon, Castle Rock
$1,910,300 $1,000,000 $910,300

12/05/2011

Flower Mound, Parker
$487,000 $358,000 $129,000

12/15/2011

Marion, Centennial
$342,000 $275,000 $67,000

08/15/2011

112th #24, Northglenn
$202,000 $135,000 $67,000

09/27/2011

Reed
$362,000 $242,500 $119,500
4/21/2011 8th, Denver
$239,000 $160,000 $79,000
6/23/2011 Scarlet, Morrison 1,200,000 $840,000 $360,000
6/23/2011 York, Denver $345,000 $310,000 $35,000
6/27/2011 Gaylord, Denver $425,000 $267,000 $158,000
5/05/2011 Merchant, Parker $586,000 $340,000 $246,000
7/28/2011 Raleigh, Castle Rock $176,000 $140,000 $36,000
7/22/2011 Appleton, Castle Rock $511,000 $390,000 $121,000
7/12/2011 Ida, Centennial $377,000 $275,000 $102,000
7/08/2011 University, Denver $540,000 $330,000 $210,000
6/03/2011 92nd, Thornton $145,000 $88,000 $57,000
5/31/2011 Morgan, Elizabeth $272,000 $205,000 $67,000
5/10/2011 Forest Hill, Littleton $251,000 $149,900 $101,000
5/03/2011 Oakwood, Castle Rock $98,000 $38,000 $60,000
5/3/2011 1211-1203 23rd, Denver $922,000 $560,000 $362,000
4/29/2011 Perry Park, Sedalia $375,000 $534,000 $159,000
4/28/2011 Rita, Castle Rock $492,000 $347,000 $145,000
4/19/2011 Vassar, Aurora $225,000 $145,000 $80,000
4/12/2011 Long, Littleton $404,000 $271,268 $132,732
3/30/2011 Wewatta, Denver $841,000 $705,000 $136,000
03/25/2011 Gould, Castle Rock $505,000 $350,000 $155,000
02/18/2011 Saybrook, Denver $239,000 $180,000 $59,000
2/10/2011 Topaz Vista, Castle Rock $643,000 $390,000 $253,000
1/24/2011 Brushwood, Castle Rock $331,000 $243,000 $88,000
12/15/2010 Grant, Denver $625,000 $305,000 $320,000
12/03/2010 Quemoy Way, Aurora $245,000 $183,000 $62,000
11/24/2010 Caddy Ct, Colorado Springs $380,000 $289,000 $91,000
11/18/2010 Hoover Ct, Grand Junction $270,000 $189,000 $81,000
11/2/2010 Empire St, Aurora $175,000 $83,000 $92,000
10/22/2010 Las Animas, Colorado Springs $385,000 $242,000 $143,000
9/29/2010 Mineral Pl, Centennial $390,000 $253,000 $137,000
8/5/2010 Woodmont Way, Castle Rock $1,139,000 $645,000 $494,000
7/15/2010 Hurd Ln, Avon $471,000 $262,000 $209,000
7/13/2010 Abilene Cir, Aurora $328,000 $220,000 $108,000
7/6/2010 Jessica Ct, Colorado Springs $251,000 $200,000 $51,000
6/10/2010 Pebble Creek Way, Littleton $188,000 $140,000 $48,000
6/9/2010 Danube Ct, Aurora $269,000 $195,000 $74,000
5/20/2010 Shadecrest Pl, Highlands Ranch $557,000 $352,000 $205,000
5/6/2010 Coal Mine St, Firestone $405,000 $235,000 $170,000
4/20/2010 Chesterfield Rd, Castle Rock $306,000 $219,000 $87,000



http://www.atdenvershortsale.com/why-choose-realty-oasis-for-your-short-sale-transaction
 




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2011 second quarter yields more short sales

short sale
Creative Commons License photo credit: ekea7

 

As homeowners scramble to avoid foreclosure, short sales are becoming more and more common. Los Angeles had 9,145 completed short sales in the second quarter 2011, reports RealtyTrac. Phoenix came in second in the number of completed short sales 8,434. RealtyTrac reports the ten metro areas in the country with the highest numbers of short sales for the second quarter of this year. They include:

 1. Los Angeles
 2. Phoenix

 3. Cape Coral Fort Myers, Florida
 4. Oxnard Thousand Oaks Ventura, California

 5. Reno Sparks, Nevada
 6. San Francisco
 7. San Jose
 8. Portland
 9. Atlanta
10. Milwaukee

 

Read more.


http://www.atdenvershortsale.com/2011-second-quarter-yields-more-short-sales