The Real
Estate Professionals
Look, Find, Buy, or Sell Real Estate
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CHASE BANK IS OFFERING 30K FOR SHORT
SELLING YOUR HOME!!! If you have a stand alone first mortgage with Chase and no second mortgage you will probably be eligible for this offering. Of course you still need to go through Chase's eligibility process to qualify, but homeowners just like you are qualifying and getting this 30K everyday. |
Frequently Asked Questions
What is a Short Sale?
A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history and the partial control of the monetary deficiency.
Additionally, a short sale is typically faster and less expensive than a foreclosure. In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed.
Am I liable for taxes?
No! After the signing of The Mortgage Forgiveness Debt Relief Act of 2007 by
President Bush, amendments have been made to remove such tax liability and allow
the borrower and lender to work freely together to find a common solution that
is beneficial to both parties. This protection is limited to primary residences
under 2 million dollars.
For more information please click on the links below.
These documents are in pdf format and require Adobe Acrobat Reader which is free.
These documents are in pdf format and require Adobe Acrobat Reader which is free.
Mortgage Debt Relief Act.pdf
Short Sale Vs. Foreclosure.pdf
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2008, StarHome4U ~ All Rights Reserved.
The
content provided in this website is for informational purposes only
and is not intended for use as professional tax, financial, or
legal advice. Please consult a qualified tax account or seek legal council before entering into any binding agreement, short sale or otherwise.
legal advice. Please consult a qualified tax account or seek legal council before entering into any binding agreement, short sale or otherwise.
