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The tax implications for the borrower could be so significant that a short sale would not be in the borrower’s best interest.  Before a short sale is contemplated, it is strongly recommended that the borrower seek the advice of a professional tax advisor.
 
Generally speaking, any [...]

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Residential Sales Trends March 2008

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As inflation rises and costs of housing increase lenders are making higher loans amounts that can become too difficult for borrowers to repay.  This being said, some of these borrowers may not be able to fulfill their mortgage obligations.  When a borrower is no longer in a [...]

Join the forum discussion on this post - (1) PostsIt is always in the best interest of the borrower to keep the lender informed. If the borrower is in default of the loan and is contemplating a short sale, it would be best for the borrower to let the lender know before the foreclosure [...]

Join the forum discussion on this post - (1) PostsLenders will typically require a distressed borrower to furnish a variety of documents, which could include the following.  This is a compiled list and will vary with each lender:

Written explanation (and proof) of the hardship the borrower is experiencing;
Copy of the purchase contract signed by [...]

Join the forum discussion on this post - (1) PostsActual activity that is available straight from the Shasta MLS database as of today, April 15, 2008:

Residential Listings:  There are 1,725 active listings and another 351 listings that are pending (in escrow).  Year-to-date during 2008 we have had 440 listings that have sold (closed escrow) and so far in April we [...]

Join the forum discussion on this post - (1) PostsActual activity that is available straight from the Shasta MLS database as of today, April 11, 2008:

Residential Listings:  There are 1,702 active listings and another 339 listings that are pending (in escrow).  Year-to-date during 2008 we have had 427 listings that have sold (closed escrow) and so far in April [...]

Join the forum discussion on this post - (1) PostsPick a color, any color- so long as its “green”.The paint and color industry has caught up with the national and worldwide trend of becoming more environmentally conscious and friendly. Manufacturers are turning homeowner’s heads with products that are green.The eco-friendly trend has also made [...]

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Join the forum discussion on this post - (1) PostsAre you looking for a new venture or have you always wanted to be an innkeeper or restaurant owner? Here is your chance to do both…with the French Gulch Hotel in Northern California, just minutes from downtown Redding. The property features 6 guest bedrooms plus [...]