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MIAMI, FL – Credit remediation is a subject consumers often face with fear and trepidation, and for good reason. With the exception of recognizing that the best score wins, the average home shopper knows very little about the whole credit scoring process. Sub-prime borrowers who are eager to move into A-Paper territory often find themselves at a loss when trying to find ways to upgrade their credit history. The good news is there... More...
Foreclosure – the very words strike fear into the hearts of even the bravest men. Nothing is more personal or more scary than the thought of losing the home that you saved for, bought, and sunk so much time, effort, money and energy into. Yet, in today’s economy, the risk of foreclosure is high. It only takes one change in your life’s circumstances to put you down the road of financial uncertainty, and even foreclosure. That change could be as simple as an illness that takes you out of work for a small period of time, or a reduction in your work hours, or worse, a total job loss. More...
Foreclosure and Short Sale Tax Liability. Will I owe taxes after a Foreclosure or Short Sale?
The transfer of title to a property, either voluntarily or involuntarily, is considered a sale. If the property is sold, either by short sale or foreclosure, the property owner may be subject to taxes, even if at a loss. The following are five commonly asked questions:
1. Will I have to pay income taxes if my "Principal Residence" is foreclosed? Is there a difference if I short sale it? If it is the Principal Residence, then the... More...
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