LIEB BLOG

Legal Analysts

Showing posts with label Short Sales. Show all posts
Showing posts with label Short Sales. Show all posts

Monday, October 29, 2018

29 Oct

Attention Brokers - What should you do if your prospective seller has a Lis Pendens on their property with public records?

Most importantly, a Lis Pendens does not necessarily mean that there is a foreclosure on the property. Instead, a Lis Pendens simply means that a lawsuit has been filed against the property. This lawsuit could be a foreclosure, but it could also be a lawsuit for partition, adverse possession, prescriptive easement, constructive...

Friday, January 02, 2015

02 Jan

TAX RELIEF GRANTED FOR UNDERWATER HOMEOWNERS

Terrific news is here with a tax break for those who sold or lost their underwater homes to foreclosure in 2014. The Mortgage Forgiveness Debt Relief Act (MFDRA) was extended through 2014 by the Tax Increase Prevention Act of 2014 on December 19, 2014. Homeowners who were forgiven debt a/k/a “cancellation of debt...

Friday, October 31, 2014

31 Oct

Short Sales Incentivized

On October 30, 2014, Supplemental Directive 14-04 was issued by Treasury. 2 major changes for those considering a short sale or deed-in-lieu are offered by this Directive. FIRST - Relocation assistance available to the property owner, who occupies the property as a principal residence and is required to vacate as a condition...

Friday, August 23, 2013

23 Aug

Short Sales & Deeds in Lieu added to Hope LoanPort

In offering their organized and systematic portal from modifications to Deeds in Lieu and Short Sales hopefully homeowners will realize increased success. Today, our firm received this email: ------------ Hello Hope LoanPort Partners, We have responded to request from portal users by adding a robust processing platform...