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Blog Posts in September, 2012

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  • Short End of the Short Sale
    Short End of the Short Sale

    Don’t let this happen to you. Just three hours before a homeowner could have closed on a short sale on her home, the bank foreclosed. The seller in this case lost three buyers over two years due to ...

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  • The Year of the Short Sale
    The Year of the Short Sale

    Chances are you have heard the term short sale before. If you are in a predicament where you owe more on your mortgage than your house is worth, you may have considered or are considering just such a ...

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  • "Deficiency" Defined

    Many people wonder if they will owe any money to the lender after a foreclosure or a short sale. The answer is – “it depends”. It depends on what the lender can legally do under state and federal law, ...

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  • How to Avoid Foreclosure in New Jersey
    How to Avoid Foreclosure in New Jersey

    How to Avoid Foreclosure in New Jersey It is not at all uncommon to fall a month behind on your mortgage. If it is caused by a simple mistake or you one difficult month, then it’s not something to ...

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  • Banks Stick to Short Sales
    Banks Stick to Short Sales

    Earlier this year, in February 2012, a $25 billion national settlement was reached between 49 states attorneys and the five big banks: JP Morgan Chase, Bank of America, Ally/GMAC, Wells Fargo and ...

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  • Short Sales – Don’t Forget the Tax Man
    Short Sales – Don’t Forget the Tax Man

    If you are stuck in an underwater home and are considering a short sale, you may be in for a surprise if you don’t close on the sale by the end of the year. Starting Jan. 1, 2013, the IRS will begin ...

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