Alexandria VA Short Sales -
Breaking News - The Mortgage Debt Relief Forgiveness Act Is Expiring Soon!
Get free help TODAY, and find out if you qualify for a short sale.
What is The Mortgage Debt Relief Forgiveness Act? It is a bill that was signed into law in 2007. It provides tax relief for taxpayers who sell their primary residence as a short sale. (Click here for the full article on the IRS website.)
How does this affect me on a short sale? When you sell your home as a short sale, you can be taxed on the amount that is forgiven, or the 'short' amount. For example. If you owe $200,000 on your mortgage, and your lender agrees to a short sale, and you sell your home for $150,000, the lender may forgive the full $50,000 short amount. However, the Internal Revenue Service (IRS) may tax the $50,000 as income. The Mortgage Debt Relief Forgiveness Act relieves taxpayers of the tax burden of the short amount for those who qualify.
How much time do I have? The Mortgage Debt Relief Forgiveness Act is scheduled to expire on December 31, 2012. Unless the act is extended, you have until December 31, 2012 to sell and close on your short sale. Call me today at 703-623-8759 or use this website to see if you qualify.
**Free Report** - Need A Helping Hand
Who is a candidate for a short sale?
-
For homeowners facing a financial hardship - Feeling like there is no other option but foreclosure can be very overwhelming. All types of emotions can start to settle in. Once you realize that you are unable to make your mortgage payment, you may experience feelings of denial, anxiety, fear, anger, or even depression. A financial hardship is nothing to be ashamed of. But because of emotions like these, approximately seven out of 10 homes that go to foreclosure, could have been avoided with a short sale.
-
For homeowners who can pay, but choose to liquidate - Perhaps you've already consulted with your tax advisor, financial planner, and legal counsel, and you've decided that the best way to cut your losses is with a strategic liquidation. Strategic liquidation sales usually require a cash contribution from the borrower, but they can be done even without a missed payment.
Here at MyPrivateShortSale.com, we are here to serve homeowners by offering confidential consultations to help you understand how to avoid foreclosure, explain the effects it can have on you and your family, and offer other options that may be available to you. This includes a loan modification or short sale, and we can help you determine if you qualify.
Use this website for helpful information on the different types of Alexandria VA short sales and military short sales.
-
We can help with
VHDA short sales. Former first-time homebuyers may qualify for a short sale with their
VHDA home loan.
-
If you have an
FHA mortgage, you may qualify for the
FHA Pre-Approved Short Sale Program, where
you can receive a credit at closing directly from the government to help with your relocation expenses.
-
We have also helped homeowners with
HAFA short sales. If you are looking to short sale your primary residence, you may qualify for the
HAFA program where you can
receive up to $3000 at closing to help you with your relocation expenses.
-
If you are a
military homeowner and are upside down on your mortgage, ask us about the
VA Compromise Sale or the
DoD HAP program. We help military families throughout the area.
Military short sales are common here in Northern Virginia due to assignments at the Pentagon, Fort Belvoir, Quantico Marine Base, and Bolling Air Force Base.
The purpose of this website is to provide you with a one-stop resource while you may be in the information-gathering stage and facing a financial hardship. Or someone you care about may be having difficulty paying their mortgage and you want to direct them to a site that has answers to some of the most commonly asked questions. We intentionally built this website to be dynamic and interactive so that you, the homeowner, can have information prior to reaching out for help. Be sure to visit our blog and participate by commenting or asking questions. Even if you decide to contact us by email, we'll post a video of your question so that we can help others who may be wondering the same thing. We've discovered that homeowners across the country who own property here in Northern Virginia and Washington DC have found us by Google and by referral. You'll see that some of the information already provided has been carried over to our blog so that you can submit your comments, participate in discussions, or just lurk until you feel comfortable reaching out. We also invite you to see our short sale listings if you are looking to buy Alexandria VA short sales. We are here to serve, and we are here to save...one family at a time.
