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anyone have experience SELLING a short sale?
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meganNbobby
Our Family is Complete
Member since 5/05 2774 total posts
Name:
Megan
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anyone have experience SELLING a short sale?
if so i have a few questions?
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Posted 12/4/08 1:59 PM  |
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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
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Re: anyone have experience SELLING a short sale?
friends of mine sold in a short sale..FM if u want.
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| Posted 12/4/08 8:25 PM |
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siffleuse319
LIF Infant
Member since 8/08 189 total posts
Name:
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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.
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| Posted 12/4/08 10:04 PM |
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EmmaNick
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Member since 12/06 16001 total posts
Name:
*
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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 
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| Posted 12/4/08 10:19 PM |
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