Short Sale News

Proposed settlement would force banks to allow short sales for delinquent ... Los Angeles Times The requirement to allow so-called short sales would be in addition to forcing mortgage servicers to reduce the amount some homeowners owe on their loans, said two officials, who spoke on the condition of anonymity because negotiations are ongoing. ... See all stories on this topic »

Short Sales and SB1187 Stock Markets Review Many of the professionals that provide distressed homeowners with short sale help were disappointed at the veto of SB 1187. For California homeowners, this bill would have provided protections against some of the creditors that have turned out to be a ... See all stories on this topic »

Homeowners With Negative Equity And Suffering From Unemployment–Short Sale And ... Red, White, and Blue Press Yet, some homeowners have seen such severity arise in relation to their financial life that they have sought out a short sale or deed in lieu of foreclosure plan from major servicers like Bank of America, Wells Fargo, or even JP Morgan Chase. ... See all stories on this topic »

Potential Tax Implications When Losing Your Home to Foreclosure or Short Sale Stock Markets Review When a property is sold as a short sale or lost to foreclosure, it is treated as a sale or exchange from which you may realize a gain or loss. The amount of debt that is forgiven is seen as a gain since this is an amount you will no longer have to pay ... See all stories on this topic »

Four States Weigh Bills to Make Appraisers Disregard Foreclosures US Banker The rationale for the bills in Illinois, Nevada, Missouri and Maryland is that the prevalence of foreclosures and short sales — almost four out of 10 sales in the country are distressed — is distorting the markets. But lenders are worried that ... See all stories on this topic »

It's tough to get a mortgage loan out there Washington Examiner Borrowers may be able to qualify for a mortgage after a short sale in as little as two years. "Short sales are a whole other ballgame because, depending on the state where it took place and the terms of the sale, lenders can still come after you ... See all stories on this topic »

More bleak numbers on Twin Cities home prices Minneapolis Star Tribune ... already have reported local sales data for January and February, which shows that there's been significant downward pressure on prices in the Twin Cities metro area because of a steep increase in sales of foreclosures and in short sales. ... See all stories on this topic »