LIFamilies.com - Long Island, NY


RSS
Articles Business Directory Blog Real Estate Community Forum Shop My Family Contests

Log In Chat Index Search Rules Lingo Create Account

Quick navigation:   

anyone have experience SELLING a short sale?

Posted By Message

meganNbobby
Our Family is Complete

Member since 5/05

2774 total posts

Name:
Megan

anyone have experience SELLING a short sale?

if so i have a few questions?

Posted 12/4/08 1:59 PM
 
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource
  |   Long Island Weddings

jklein1323
LIF Adolescent

Member since 11/06

847 total posts

Name:
J

Re: anyone have experience SELLING a short sale?

friends of mine sold in a short sale..FM if u want.

Posted 12/4/08 8:25 PM
 

siffleuse319
LIF Infant

Member since 8/08

189 total posts

Name:

Re: anyone have experience SELLING a short sale?

How was their credit affected? And did any of their mortgage holders file a judgment against them? If taxes and insurance increase again, my 30 year fixed house payment will become increasingly difficult.

Posted 12/4/08 10:04 PM
 

EmmaNick
*

Member since 12/06

16001 total posts

Name:
*

Re: anyone have experience SELLING a short sale?

I believe they cannot file a judgement against the mortgage holder, as they are agreeing to waive the remainder of the mortgage in the short sale. A law recently went into effect that the mortgage company can no longer 1099-C you (which requires you to pay taxes on the forgiven debt). Short sales require a lot of paperwork and patience! Good luck Chat Icon

Posted 12/4/08 10:19 PM
 
 

Potentially Related Topics:

Topic Posted By Started Replies Forum
anyone with any short sale experience? submitting bid in a few hours. Janice 10/23/08 13 Home
Anyone been successful selling your house "for sale by owner"? luvsun27 6/16/08 15 Home
Feel like I am selling myself short. TiggerBounce 9/15/08 15 Career
Short sale jessbaby 5/16/08 2 Home
Good deal on a house in Islip Terrace (short sale) SweetestOfPeas 2/23/08 0 Home
Has anyone purchased a home that was a short sale? BaroqueMama 1/21/08 7 Home
 
Quick navigation:   
Currently 1258752 users on the LIFamilies.com Chat
New Businesses
1 More Rep
Carleton Hall of East Islip
J&A Building Services
LaraMae Health Coaching
Sonic Wellness
Julbaby Photography LLC
Ideal Uniforms
Teresa Geraghty Photography
Camelot Dream Homes
Long Island Wedding Boutique
MB Febus- Rodan & Fields
Camp Harbor
Market America-Shop.com
ACM Basement Waterproofing
Travel Tom

      Follow LIWeddings on Facebook

      Follow LIFamilies on Twitter
Long Island Bridal Shows