short sale

5 Things to Do Before You Go Into Foreclosure

 If you’re having trouble keeping up with your mortgage payments and think you might be headed for foreclosure, there are still some things you can do to ameliorate the situation. Millions of U.S. homeowners have had their properties repossessed in recent years, so if you’re on the verge of losing your home or have received […]

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tax

How to Pay Zero Taxes on Mortgage Debt Forgiveness After Foreclosure or a Short Sale

Did you go through foreclosure, modify your mortgage, or do a short sale last year and sell your home for less than what was owed to your mortgage lender? If so, you probably got a 1099-C, a Cancellation of Debt, from your lender and you now need to know how to account for that transaction

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foreclosure

Should I Do a Short Sale, Deed In Lieu of Foreclosure, or File Bankruptcy?

Question: I live in las vegas. I owe $300,000 on a house that is valued at $150,000 and dropping. What would be the best alternative for me? Should  I  do a short sale, deed in lieu of foreclosure, or file bankruptcy? At present  I  am unemployed and can not afford the payments and HOA fees.

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