What Is A Pre-Foreclosure?

The pre-foreclosure status is when somebody is starting to miss payments. They’re 30, 60, or 90 days behind. It’s inevitable that they’re going to get a letter from the bank or an attorney that says that the property is now going to go to auction. Once...

Are There Short Sale Tax Implications?

Under the Mortgage Forgiveness Debt Relief Act of 2007, if somebody does a short sale in the taxable year of 2013 there are no tax implications if it is your primary residence. That tax amnesty may end at the end of 2013, we don’t know, but if it does end at the...