Real Estate Information

Tracy CA – The Mortgage Forgiveness Debt Relief Act of 2007 allows most people to short sale their home and not owe any income taxes on the forgiven debt.

However, there are a few situations where a homeowner may still owe taxes after a short sale.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

According to the IRS’s Website, here are the following situations where you may owe taxes after a short sale or foreclosure.

* If you are being forgiven of more than $2 Million on your principal residence.

* If you are being forgiven of more than $1 Million on your principal residence and you are a married person filing a separate return.

* If the debt being forgiven was from a refinance and the proceeds of the refinance was not used to improve your residence.

(If you refinanced your house and used the money to improve your residence, then you wouldn’t be taxed on the forgiven debt. I would talk to an accountant to get all the details before trying this strategy.)

* Forgiven debt on second homes and other properties that are not your primary residence are not eligible for tax relief under this law.

There are other ways to get tax relief, but they are not covered under this law. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on A Few Instances Where You May Owe Income Taxes After A Tracy Short Sale is provided as a courtesy to our viewers to help them make informed decisions.

Tracy CA – In our last blog post we explained that the Mortgage Forgiveness Debt Relief Act does not automatically release you from your mortgage debt after a short sale.

So, what does this law cover? What does it do? I’ll answer that question today.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Unfortunately, the law does not automatically release you from your upside down mortgage debt after a short sale. What it does do is give certain homeowners relief from taxes after a short sale.

Let’s look at the tax liability for a homeowner who short sold their home or lost it to foreclosure. Before this law was enacted, they would be taxed for any debt that was forgiven.

Let’s say that someone owed $400,000 on their home and sold it as a short sale for $300,000. According to Uncle Sam, if the lender forgave $100,000 in debt, then it was like they received $100,000 in free money.

Uncle Sam considered that forgiven debt as income. He wants that person to pay taxes on the income. Imagine the shock of receiving a big tax bill after you lost your home to foreclosure!

The Mortgage Forgiveness Debt Relief Act of 2007 changed all that. Someone can now short sale their home and be relieved from owing income taxes on up to $2 million in forgiven mortgage debt on their primary residence.

The law expires at the end of 2012. If you are thinking about short selling your home, then you need to get started right away. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Tracy Short Sales: So How Does The Mortgage Forgiveness Debt Relief Act Help You? is provided as a courtesy to our viewers to help them make informed decisions.

2056 Heather Creek Ct., Tracy, Ca

For Additional Information & Photo's click here

Style: Two Story
Square Feet: 2,312
Bedroom: 4
Bathrooms: 3
Lot Size: .17 Acre

5012 Vigna Way, Salida, Ca

For Additional Information & Photo's click here

Style: Single Story
Square Feet: 1,136
Bedroom: 3
Bathrooms: 2
Lot Size: .09 Acre

Tracy CA – Be careful who you take short sale advice from. Unfortunately, not everyone knows and understands short sales.

Here is an example of the myths propagated by people who think they know and understand short sales. I received an email from another agent recently.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

This agent thought that a Federal Law had outlawed deficiencies on short sales. This agent mistakenly thought that the Mortgage Forgiveness Debt Relief Act of 2007 made it so that anyone could short sale their house and the debt would automatically be forgiven.

This agent had sold over 50 short sales and was experienced on short sales. She assumed that since the short sale lenders had not mentioned a deficiency in the short sale approval letter that meant there was no deficiency.

This agent was located in Oregon. However, according to this Oregon Attorney’s Website, she was mistaken. Any of her 50 short sale customers could be at risk of a deficiency, even though their agent had told them that the loan had been forgiven.

Don’t make any assumptions when deciding on how to handle your short sale. Double check everything you hear and make sure it is correct. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on A Common Tracy Short Sale Myth: Everyone Who Short Sells Their Home Will Be Released From The Debt is provided as a courtesy to our viewers to help them make informed decisions.

728 Grand Teton Ct., Newman, Ca

For Additional Information & Photo's click here

Style: Single Story
Square Feet: 2,919
Bedroom: 4
Bathrooms: 2
Lot Size: .17 Acre

Tracy CA – Most of the short sale sellers that we help are selling this home because of financial problems. They can’t afford the payments and sell their home to avoid foreclosure.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Because of this I am very familiar with helping my customers who have financial problems. Many of them are struggling to buy groceries, keep the power turned on, and pay for gas to get to work.

They are struggling to pay for the necessities just to survive and feed their family. In most cases they have missed payments on credit cards.

The credit card companies think that you should pay them before you buy groceries. If you are in this situation, then do not give a dime of your money to any credit card company.

A credit card is an unsecured debt. They don’t have any collateral to get their money back with. They can’t come get your car or take your house.

Because of that they cram hundreds of people into cubicles and “sic em” on people in financial difficulty. They make hundreds of calls each day. They lie and threaten people to scare them into paying.

If you are having financial problems, then just take a break from these people. Get them off the phone as quickly as possible. Hang up if the conversation has gone longer than 30 seconds.

Don’t believe any threats to sue you. I estimate that 90% of the threats to sue are never carried out. Even if they do sue and get a judgment they can only garnish 25% of your wages.

I estimate that 95% of all unpaid credit cards will never result in a wage garnishment. Now, I’m not saying you shouldn’t pay them.

But, get your life back on track before you do. Get all of the necessities paid for first. Every other payment should be caught up on before you pay them a dime.

You should have an emergency fund of $1,000 or more before you pay them. Your kids, healthcare for the entire family, and all other necessary expenses should be taken care of.

If your car is having problems and needs to be replaced, then buy a new car. Once you have everything in order financially, then you can start working with the past due credit cards.

But, don’t just pay them off in full. Most of them will accept a 10-20% of the original balance. Pay them what you think is fair. When paying them off never send them a check or give them your debit card info.

Some of their contracts have clauses that allow them to charge you more than you had agreed on the phone. Get everything signed and in writing.

Then mail them an untraceable payment method like a money order. That way they can’t take every dime out of your bank account. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Tracy Short Sale Help: Having Financial Problems? Tell Debt Collectors To “Get Lost” is provided as a courtesy to our viewers to help them make informed decisions.

827 Kilarney, Lathrop, Ca

For Additional Information & Photo's click here

Style: Single Story
Square Feet: 1,604
Bedroom: 4
Bathrooms: 2
Lot Size: .15 Acre

Tracy CA – A recent article in the Tampa Bay Times shows how much lenders prefer short sales to a foreclosure. It discussed how Bank of America recently came out with new short sale incentives.

Bank of America is willing to pay borrowers up to $30,000 for moving expenses to short sale their house. I doubt that many homeowners will receive $30,000. Most will receive the lower amount of $2,500.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

But that is still better than repaying your lender thousands of dollars for their loss. As you can see, banks like short sales. But, why is that?

It comes down to one simple thing: money. The banks have foreclosed on thousands of properties. They have also assisted with thousands of short sales.

Over time they realized that selling a property as a short sale usually nets them more money. Here is an example. We had a home for sale as a short sale. A buyer offered to buy the home for $275,000.

The bank reviewed the offer and turned it down. They thought the house was worth more than that. We tried and tried to convince them to accept the offer. But, they wouldn’t accept it.

So we put the property back on the market. The market continued to decline. We submitted all of the new offers to the lender. However, they continued to turn them down.

Finally 18 months later they accepted an offer. But, this time the house was selling for $235,000. I’m sure that shocks you. What! That lender just lost $40,000! Wouldn’t someone be angry?

No. No one is angry. That’s crazy, isn’t it? But, it’s just part of life for these lenders. They have to make decisions every day. They are used to losing money on foreclosures and short sales.

They have seen this story before on many other homes. Overall they know that short sale will net them more money than a foreclosure. As a result they prefer short sales over a foreclosure. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Here’s Proof That Your Bank Actually Wants You To Short Sale Your Tracy Home is provided as a courtesy to our viewers to help them make informed decisions.

Tracy CA – Many people are concerned about a potential lawsuit after a short sale.

Many people ask us, “My lender just lost $150,000. Aren’t thing going to be angry that they are losing that much money? Won’t they sue me?”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The good news is that very few people will get sued. The vast majority of all short sale sellers will be released from the debt as a condition of the short sale.

We have reviewed hundreds of short sale approval letters and are familiar with the laws in different states. We estimate that 85-90% of all short sales will be approved with the deficiency being waived.

But, what about the remaining people? There are several reasons they are unlikely to be sued. Remember, in most cases they can’t collect any money without getting a judgment first.

Reason #1: It costs $1,000 or more to file a lawsuit in most states. Between the attorney fees and court costs, it will cost a lender $1,000 to $5,000 to convert the debt into a judgment. The $5,000 number is for people who fight them in court.

Reason #2: You can’t squeeze blood from a stone. Most people short sell their house because of financial problems. The banks know this.

They have learned from past experience how hard it is to collect money from someone who is having financial difficulties.

This is why the vast majority of all short sale sellers will never be sued by their lender after a short sale. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail atfrank@thesilveriateam.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 209.835.9300

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Tracy loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Frank G. Silveria III.

Frank G. is a Real Estate Agent at Taffeco Real Estate.

Phone: 209.835.9300. frank@thesilveriateam.com.

Helping Families One Home At A Time

View My homes for sale at www.thesilveriateam.com.

Frank G. Silveria III specializes in loan modification assistance and short sales in Tracy California. Tracy Loan Modification Help, Tracy Short Sales. Tracy Short Sale Realtor. San Joaquin CA Loan Modification Help, San Joaquin CA Short Sales. San Joaquin CA Short Sale Realtor. Kissimmee FL Loan Modification Help, Stanislaus County CA Short Sales. Stanislaus County CA Short Sale Realtor. Tracy CA Short Sales. Tracy Realtor.

Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Frank G. Silveria III, Taffeco Real Estate, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Frank G.’s personal views and do not reflect the views of Taffeco Real Estate.

This information on Will My Lender Sue Me After A Tracy Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.