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What is a “Boomerang Buyer?” Buying a Home Following a Short Sale or Foreclosure

September 12, 2013

This past March, Money Magazine claimed that the real estate industry was back. Home Prices had increased in 92 of the country’s largest 100 metropolitan areas, interest rates were in the 3’s and the number of homes for sale was at the lowest level in a decade. While interest rates have risen more than a […]

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Fannie Mae Short Sale Guidelines

February 16, 2013

Fannie Mae Streamlines Short Sale Transactions Fannie Mae announced new short sale guidelines this past August in an effort to streamline short sale transactions. The Fannie Mae short sale guidelines, which went into effect November 1st, are designed to simplify the short sale approval process for all loans owned or guaranteed by Fannie Mae. According to the […]

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Mortgage Debt Relief Act Extended Through 2013

January 8, 2013

American Taxpayer Relief Act of 2012 On January 1st, 2013 the U.S. Senate overwhelmingly passed legislation to avoid the so-called “Fiscal Cliff” by a vote of 89-8. The bill, referred to as the American Taxpayer Relief Act of 2012, avoided draconian sunset tax provisions that were scheduled to take effect after 2012 under the Bush-era tax […]

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What Are The Tax Consequences of a Massachusetts Short Sale?

February 7, 2012

As tax season approaches, and more importantly, the expiration of the Mortgage Debt Relief Act of 2007, it is important to review the tax consequences following a short sale.  In general, the IRS will treat any canceled debt, such as forgiveness of a mortgage loan, as taxable income. Thus, if you live in a recourse […]

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Massachusetts Short Sales: Five Tips For Buyer’s Agents To Ensure Short Sale Approval

November 12, 2011

A Buyer’s Agent Can Take Proactive Steps To Ensure Short Sale Approval. Five Things Buyer’s Agents Must Do On All Massachusetts Short Sales.

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Massachusetts Short Sales: Five Tips For Listing Agents To Ensure Short Sale Approval

September 17, 2011

According to a recent report by California based RealtyTrac, distressed properties accounted for one third of all US housing sales in the second quarter of 2011. The glut of inventory is only going to increase as lenders slowly bounce back from the robosigning crisis and foreclosure filings begin to pick up around the country. A […]

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FTC MARS Exemption:Good Or Bad For Short Sale Agents?

July 28, 2011

FTC Issues Stay On Enforcement Of Certain MARS Provisions The Federal Trade Commission (FTC) recently issued a statement that it would no longer enforce several provisions of the widely scrutinized Mortgage Assistance Relief Services (MARS) Rule. The MARS Rule required all real estate agents working on short sales to make certain disclosures to homeowners as […]

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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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