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  • Most Recent Questions and Answers
Principal reduction possible on underwater loans or is this a myth?

User question: Is principal reduction possible on underwater loans or is this a myth?

Will short sale affect family trust that was cosigner on loan?

User question: Can a short sale be done without affecting a family trust that was a cosigner on the loan?

Contract to purchase home and bank's counter offer not a binding contract?

User question: Is a contract to purchase, along with the bank's counter and purchaser's agreement to $2,000+ in purchase price, not a binding contract?

Can I use Power of Attorney to help sell a jointly-owned home?

User question: My fiance and I purchased a home together then separated. He is now unavailable to sign papers to sell the home. Can I have him sign Power of Attorney over to me

In AZ, can you disregard 1099-C and forget about canceled debt?

User question: It is my understanding that Arizona is an "anti-deficieny state"--Arizona Statue Section 33-814G--therefore if it is a Recourse Debt you can throw away the 1099-C

Is it possible to remove a credit enhancement from a loan?

User question: After applying for refinancing, we were informed that we have a credit enhancement on the loan which makes us ineligible for the HARP program. How do we get rid of

Is it necessary to have a lawyer to complete a loan modification?

User question: I was contacted by a law firm offering to help me keep my home. Then they said it would cost $4,000 for this assistance. This seems like a lot of money for

The bank accepted a short sale offer but will be sending a 1099 tax form. What does that…

User question: I have been working with a realtor for a year attempting to sell or short sell my condo after losing my job. Finally BOFA has accepted a short sale offer that has

What are some of the advantages of a short sale over a foreclosure?

User question: I am upside down on my home and trying to decide whether I should try to short sale it or just let it foreclose back to the bank. Can you please share the

How can I predict the amount of capital gains tax?

User question: How can I predict the amount of capital gains tax?

What are some options for owners trying to sell their own homes?

User question: I want to try selling my home myself to avoid the expense of a realtor. What alternative options are out there for someone like me?

Is B of A really freezing foreclosures?

User question: I would like to know if Bank of America has frozen home foreclosures or is it a rumor which I was told by the Bank of America employee handling our case.

With Bank of America halting foreclosures, what should I expect?

User question: My condo was due for public auction in December. Now that Bank of America has halted foreclosures, is that changed?

Is it necessary to have a home appraised when paying cash?

User question: I am buying a house via short sale and paying in cash, is it necessary to have the home appraised when buying in cash?

When does foreclosure officially go back to the bank?

User question: Our condo is being foreclosed on in December, but when will it "officially" go back to the bank?

How does a short sale vs. foreclosure affect credit rating?

User question: How does a short sale affect your credit rating vs. a foreclosure? Also, after a short sale is completed, how long will it take before a lender will consider you

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