-
Recent Posts
Recent Comments
- Alexander7 on Property Taxes and Short Sales In Seattle WA – Should I pay my property taxes?
- Alexander7 on Tax Consequences of A Short Sale
- Alexander7 on Missed the Trial Loan Modification Payments?
- Alexander7 on Protecting Your 401K and doing a short sale
- Alexander7 on Investment property short sales and 1099 Income…
Archives
Categories
Meta
Author Archives: A. Harrington
Short Sales, Bank of America, Insanity and a Tarnished Reputation
About nine months ago, I took a listing on a home in Bothell, WA. The owner was a good friend of mine from high school who had fallen on some difficult times with his finances. To add to his troubles, … Continue reading
Posted in Foreclosure, HAFA, Loan Modification Information, Short Sale Information
Tagged Bank of America, Short Sale
Leave a comment
Bank of America to Expedite Jumbo Loan Short Sale!
To my disbelief, I got an email from a Bank of America short sale negotiator within 2 weeks of a jumbo loan listing in Seattle. The email stated who the negotiator was and how the jumbo loan short sale would … Continue reading
Posted in Seattle, Short Sale Information
Tagged Bank of America, Jumbo, Seattle, Short Sale
1 Comment
Investment property short sales and 1099 Income…
After speaking with an accountant the other day about the qualification of primary residency as the criteria for filing for the tax exclusion for the 1099C from a short sale, it has become my understanding that insolvency is also a … Continue reading
Posted in HAFA, Lending, Mortgage / Real Estate Laws, Seattle, Short Sale Information, Washington
Tagged 1099, Seattle, Short Sale, Tax
1 Comment
Is The Amount of Debt Forgiven Taxable in a Short Sale?
The Mortgage Forgiveness Debt Relief Act and Debt Cancellation If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. The Mortgage Debt Relief Act of 2007 generally allows taxpayers … Continue reading
Property Taxes and Short Sales In Seattle WA – Should I pay my property taxes?
Property Taxes and Short Sales In Seattle WA – Should I pay my property taxes? Do you have your property taxes impounded with your mortgage payment? If so, then you’ll go delinquent with your property taxes when you quit making … Continue reading
Posted in Credit, Financial Safety, Foreclosure, HAFA, Lending, Loan Modification Information, Seattle, Short Sale Information, Washington
Tagged Mortgage, property, Seattle, Short Sale, taxes
1 Comment
Protecting Your 401K and doing a short sale
While Realtors in the state of Washington are not allowed to give legal advice, I still get a common question about protecting your 401K and doing a short sale. Here are the general questions: 1. Do I have to disclose … Continue reading
Posted in Credit, Financial Safety, Foreclosure, Lending, Seattle, Short Sale Information, Washington
1 Comment
Tax Consequences of A Short Sale
The tax consequences of a short sale can be dramatic. However, if your home is deemed a primary residence and is under $2,000,000.00 then you are exempt. But what if you’ve moved out of the home? The IRS has an … Continue reading
Posted in Credit, Financial Safety, Foreclosure, HAFA, Lending, Mortgage / Real Estate Laws, Seattle, Short Sale Information, Washington
Tagged 1099, Income, IRS, Seattle, Short Sale, Tax, WA
1 Comment
Missed the Trial Loan Modification Payments?
Missed the Trial Loan Modification Payments? Considering the housing bubble and/or recession was a little late arriving in Seattle, home owners are just now starting to enter into and fail trial loan modifications. Trial modifications aren’t necessarily modifying loans. Applicants … Continue reading
Posted in Credit, Loan Modification Information, Seattle, Washington
Tagged agent, HAFA, Loan Modification, Realtor, Seattle, Short Sale
4 Comments
Bank of America seeks alternative foreclosure avoidance
Bank of America seeks alternative foreclosure avoidance Wednesday, August 25, 2010 Catherine Deshayes Bank of America looks to alternatives to government programmes for foreclosure avoidance… While Bank of America substantially trimmed the number of trial modifications it is processing, the … Continue reading
Posted in Credit, Foreclosure, Lending, Uncategorized
Tagged Bank of America, Foreclosure, Seattle
1 Comment
Buying a Short Sale Property In Seattle (King, Snohomish, Pierce County)
Buying a Short Sale Property In Seattle (King, Snohomish, Pierce County) I here all the time, “I want to buy a short sale property because they are really good deals.” Hmmm. That question is perplexing, considering the trouble I see … Continue reading →