What is a short sale deficiency? Deficiency judgment?
Jul 01, 2011
A deficiency the difference between the original loan(s) balance and what the short sale brings in.
An example would be if John and Jane Doe entered into an approved
short sale agreement to sell the...
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Who does a seller need on their short sale team?
Jul 01, 2011
If you are going to sell your home in a short sale situation there
are three very important professionals you want on your team: your
Realtor, your attorney and your accountant.
Realtor - The Real...
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Short Sale Basics: Frequently Asked Questions
Apr 30, 2011
What is a Short Sale?
A short sale is a term used to describe a transaction in Real Estate
when a lender or lenders accept a lower payoff amount than what is owed
on a property, in order to avoid...
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Short Sale Basics: What are the IRS Tax Implications?
Apr 30, 2011
One of the most frequently asked questions about short sales is will
the seller have to pay income or gift taxes on the amount of debt
forgiven by the banks. Some sellers who do not retain an attor...
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Short Sale Basics: What Will Lenders Ask For?
Apr 30, 2011
Preliminary HUD Sheet This is an estimated closing statement that shows the sales price you
expect to receive and all the costs of sale, unpaid loan balances,
outstanding payments due and late fee...
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Short Sale Basics: Questions to Ask a Real Estate Agent
Apr 30, 2011
Questions Every Buyer should Ask a Short Sale Listing Agent
A short sale is not a simple real estate transaction (as if there is
such an animal). The uniqueness and the way short sale rules are
c...
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Short Sales v. Foreclosure - Getting Back into Home Ownership
Apr 30, 2011
The rules are changing quickly when it comes to getting back in
the home buying game after suffering a setback. In some cases though a
person may be able to buy again in as little as two years. The...
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Can I Afford an Attorney to assist me with a Short Sale?
Apr 30, 2011
One of the biggest fallacies about the short sale process is that you
cannot afford an attorney. Hold your seat I have the best news you are
going to hear all day if you are selling your home short...
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New Jersey: Shoplifting - What if I never took the item out of the store?
Jan 04, 2011
NEW JERSEY: Can I be arrested for shoplifting if I never
took anything out of the store?
One
of the most common misconceptions about the charge of shoplifting is that a
person need not remove an item...
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New Jersey: Theft of Movable Property NJSA 2C-20-3a
Oct 21, 2010
In
order for the state to convict a person under the statute they must prove each
of the following beyond a reasonable doubt:
1.
that the defendant knowingly took or unlawfully
exercised control o...
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