Short Sales

Five Things To Avoid When Writing Your Short Sale Hardship Letter

June 25, 2011

When working with Massachusetts short sale candidates, the most daunting task always seems to be writing the hardship letter. All homeowners requesting a short sale are required to provide the lender with a hardship letter. The hardship letter is your best, and only, opportunity to explain to the lender why you are no longer able […]

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How To Qualify For A Massachusetts Short Sale: The Involuntary Hardship

June 4, 2011

As someone who exclusively negotiates Massachusetts short sales, I receive about three to five new short sale referrals every week from local real estate agents or distressed homeowners. While it may come as a surprise, I actually reject quite a few of these short sale requests. The most common reason I refuse to submit a […]

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How To Keep Buyers Committed To A Massachusetts Short Sale Transaction Without A Signed Purchase And Sale Contract

May 12, 2011

During this past week alone , I have received ten new short sale requests.  As a Massachusetts short sale negotiator, my services are generally not required until the buyer and seller execute an Offer to Purchase. Once the offer is signed,  the buyer’s agent inevitably calls me to request the seller attorney contact information so […]

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MARS DISCLOSURES

April 13, 2011

Mortgage Assistance Relief Services Rule The Federal Trade Commission (FTC) now requires all companies that offer mortgage assistance relief services (MARS) to make three types of disclosures to short sale consumers. The rule, which went into effect March 31, 2011, also bans the collection of up-front fees. While the advance fee ban was clearly intended […]

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How Does A Short Sale Affect Your Credit Score?

April 7, 2011

Foreclosure vs. Short Sale: Which Option Is Best For My Credit Score? As someone who deals with homeowners facing foreclosure on a daily basis, I am often asked whether a short sale or foreclosure results in more damage to your credit. Unfortunately, there is no straight- forward answer. The reason why this is such a […]

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Short Sale Tax Consequences: Understanding The Qualified Principal Residence Exemption

March 24, 2011

Mortgage Forgiveness Debt Relief Act and Short Sale Tax Consequences

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The Mortgage Forgiveness Debt Relief Act

March 15, 2011

If you recently lost your home to foreclosure, or were fortunate enough to get your lender to agree to a short sale, you need to be certain that you correctly report this information on your income taxes. Most individuals are unaware the the IRS treats canceled debt as income. In general, if you owe a debt […]

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National Association of Realtors: LIFE ON MARS

March 11, 2011

Realtors Must Comply With The Disclosure Requirements Of The MARS Rule If They Negotiate Short Sales Or Advertise short Sale Experience.

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Massachusetts Short Sales: Frequently Asked Questions

March 7, 2011

As someone who exclusively handles Massachusetts short sales, I am repeatedly asked the same questions from both homeowners and Realtors when considering a short sale.  As more homeowners default on their mortgages, I believe it is important to dispel some of the short sale myths that give these often misunderstood transactions a negative connotation. Short […]

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Are Realtors Subject To The FTC MARS Ruling?

February 25, 2011

As a real estate professional that exclusively handles Massachusetts Short Sales,  I continue to receive numerous inquiries about the Federal Trade Commission’s (FTC) Mortgage Assistance Relief Services Act (MARS) that went into effect January 1, 2011. I work with real estate agents on a daily basis and depend on them for a large portion of […]

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