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BayAreaHomeInfo
San Francisco Bay Area Realtor. Providing state and local real estate information for buyers, sellers and investors. Working with property owners wishing to obtain top market value for their home or investment property. Complete short sale and REO solutions with extensive experience negotiating with financial institutions.More Christopher Chenault Blogs...www.BayAreaHomeInfo.Blogspot.com
How to Buy a Foreclosure
Many buyers, especially first-timers, hope to purchase a foreclosed property at a bargain price. While purchasing a foreclosed home can be a wise choice for some buyers, it is important that buyers understand the differences in buying at different stages... Read more at www.BayAreaHomeInfo.Blogspot.com
Losing a home? A tax bite may be next
In recent months I've had the opportunity to sell several Bank-owned properties and short sale listings... Two completely different types of transactions, in that the short sale still has the "client factor"... I'm representing an individual, a family.This is why It's the short sales that concern me the most when looking at protecting and educating my clients. Although I feel great when I'm able to negotiate with their bank for a successful close and receive an offer that minimizes their losses, but I'm still quite concerned about my client's obligations to Uncle Sam when my services have been completed!Regardless, if you're considering a short sale or walking away from your mortgage..."You might avoid debt-relief taxes if your lender forecloses on your house and cancels your mortgage. But you could still wind up owing a lot of money to the IRS." (money central - MSN Money)As always, I look forward to discussing your individual real estate needs. Christopher ChenaultBay Area RealtorColdwell Banker BartelsDirect: 510-375-0303License # 01494954To read the full story, please click here: http://articles.moneycentral.msn.com/Taxes/TaxShelters/losing-a-home-a-tax-bite-may-be-next.aspx