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Los Angeles Short Sales

Los Angeles Short Sales and Tax Implications

I had an agent ask me today about the tax implications of a short sale. He said that his seller was concerned about both the tax implications and future liability for the debt forgiven and was in the process of…

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What do Mortgage Insurance and Magic Have in Common?

Today, at the monthly NAHREP (National Association of Hispanic Real Estate Professionals) meeting in San Marcos, California, I had the pleasure of speaking about short sales. After the meeting, Ken Davis approached me and asked me about mortgage insurance. Short…

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What is a Short Sale?

The definition of a short sale is the sale of real estate in which the amount yielded from the sale is short of the balance owed on a loan secured by the property which will be sold. That means that…

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Foreclosures – A Dream or a Debacle?

Are you leaning towards stepping into the investment market? You may get the idea that buying a  foreclosure is your best bet for a great deal on a home. Well, it’s possible, but remember that the foreclosure market is full of…

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