If you are living in the home at the time the Notice of Default is issued you may have some protection when it comes to deficiency, second mortgages and so on. However, one of the issues some people forget to ask about is the 1099C that is issued. The guidelines on the tax relief are totally different, so be certain you talk to your attorney about each of these issues, since they can impact you differently.
In the world of real estate today many of us are hearing terms we have not heard before and even seasoned agents have not heard them in years. Loan Modification, short sale, foreclosure and cash for keys are a few of these terms. Today we will be discussing the loan modification and short sales. Many […]