Archive | Short Sales

Wa State SB 6337 Protecting Short Sale Sellers

Senate Bill 6337 was recently introduced in the WA State Legislature regarding short sales. After a short selling homeowner gets the shortfall deficiency waived, the homeowner receives a 1099 in the mail because debt forgiveness is a taxable event. As we’ve learned, some people may have to pay taxes on the deficiency, others may not depending on their circumstances. More about […]

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To the Students from the August 23, 2011 Short Sale Fraud Class at Preview Properties Everett

Here are links to some of the things we will cover today. Here’s that 60 Minutes Episode on LPS and the Robo-signer scandal. Sounds like the first of many lawsuits was filed today. Here’s a link to the free, HUD Approved Housing Counseling Agencies in WA State and the link with more info for ppl who might qualify for free […]

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Washington State Department of Licensing Issues Short Sale Advisory

The Real Estate Division of the Washington State Department of Licensing and the Department of Financial Institutions have issued two memos about short sales. The DOL  Short Sale Advisory is for home sellers but really should be for both sellers AND their Realtors/real estate brokers.  DFI’s companion advisory is titled “Short Sale Guidance for Licensees” and contains many Q&As for both loan modification and […]

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Questions to Ask the Listing Agent on a Short Sale

How many short sales have you successfully closed? How many of your short sales have gone into foreclosure? Has the seller completed the bank’s required paperwork? Are you negotiating this yourself or will a third party be negotiating? (If it’s a third party, see this blog post for 21 questions to ask your third party short sale […]

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