Will these help?

[UCGal]

So if a party has refi’d (turning their loan recourse) and this happens, they first mortgage is now non-recourse in a short sale? It might make more people willing to do short sales….

Another question – does their tax obligation from the short sale go away? (I assume not.)

[SD Realtor]

Many people misunderstood the tax obligations with short sales. If you read the debt relief act the rules were still pretty stringent but relief is/was available as long as you didn’t cash out and blow the money on non home related items. I have not read the new stuff enough to make an informed statement on the tax liability.

The biggest thing in my book is having a PRE approved price before the short sale. I don’t see how the service orgs can pull that off. I will be amazed if it works.

[SD Realtor]

Many people misunderstood the tax obligations with short sales. If you read the debt relief act the rules were still pretty stringent but relief is/was available as long as you didn’t cash out and blow the money on non home related items. I have not read the new stuff enough to make an informed statement on the tax liability.

The biggest thing in my book is having a PRE approved price before the short sale. I don’t see how the service orgs can pull that off. I will be amazed if it works.

[SD Realtor]

Many people misunderstood the tax obligations with short sales. If you read the debt relief act the rules were still pretty stringent but relief is/was available as long as you didn’t cash out and blow the money on non home related items. I have not read the new stuff enough to make an informed statement on the tax liability.

The biggest thing in my book is having a PRE approved price before the short sale. I don’t see how the service orgs can pull that off. I will be amazed if it works.

[SD Realtor]

Many people misunderstood the tax obligations with short sales. If you read the debt relief act the rules were still pretty stringent but relief is/was available as long as you didn’t cash out and blow the money on non home related items. I have not read the new stuff enough to make an informed statement on the tax liability.

The biggest thing in my book is having a PRE approved price before the short sale. I don’t see how the service orgs can pull that off. I will be amazed if it works.

[SD Realtor]

Many people misunderstood the tax obligations with short sales. If you read the debt relief act the rules were still pretty stringent but relief is/was available as long as you didn’t cash out and blow the money on non home related items. I have not read the new stuff enough to make an informed statement on the tax liability.

The biggest thing in my book is having a PRE approved price before the short sale. I don’t see how the service orgs can pull that off. I will be amazed if it works.

[briansd1]

More short sales means more opportunities to game the system and cause more losses for the banks, then government and ultimately, all taxpayers.

If it’s easy to do a short sale, I think that many homeowners who are underwater, but still making their mortgage payments, will be enticed to sell their properties to buddies, relatives, girlfriends, boyfriends, etc…

Whatever the percentage of underwater homeowners there are, that’s the potential inventory of short sellers.

People need to find a way to “recycle” their purchasing mistakes somehow.

[briansd1]

More short sales means more opportunities to game the system and cause more losses for the banks, then government and ultimately, all taxpayers.

If it’s easy to do a short sale, I think that many homeowners who are underwater, but still making their mortgage payments, will be enticed to sell their properties to buddies, relatives, girlfriends, boyfriends, etc…

Whatever the percentage of underwater homeowners there are, that’s the potential inventory of short sellers.

People need to find a way to “recycle” their purchasing mistakes somehow.

[briansd1]

More short sales means more opportunities to game the system and cause more losses for the banks, then government and ultimately, all taxpayers.

If it’s easy to do a short sale, I think that many homeowners who are underwater, but still making their mortgage payments, will be enticed to sell their properties to buddies, relatives, girlfriends, boyfriends, etc…

Whatever the percentage of underwater homeowners there are, that’s the potential inventory of short sellers.

People need to find a way to “recycle” their purchasing mistakes somehow.

[briansd1]

More short sales means more opportunities to game the system and cause more losses for the banks, then government and ultimately, all taxpayers.

If it’s easy to do a short sale, I think that many homeowners who are underwater, but still making their mortgage payments, will be enticed to sell their properties to buddies, relatives, girlfriends, boyfriends, etc…

Whatever the percentage of underwater homeowners there are, that’s the potential inventory of short sellers.

People need to find a way to “recycle” their purchasing mistakes somehow.

[briansd1]

More short sales means more opportunities to game the system and cause more losses for the banks, then government and ultimately, all taxpayers.

If it’s easy to do a short sale, I think that many homeowners who are underwater, but still making their mortgage payments, will be enticed to sell their properties to buddies, relatives, girlfriends, boyfriends, etc…

Whatever the percentage of underwater homeowners there are, that’s the potential inventory of short sellers.

People need to find a way to “recycle” their purchasing mistakes somehow.

[Author]

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