Are You Concerned About Tax Ramifications In Doing A Short Sale?

Posted by webmaster on Jan 25, 2012 in Uncategorized | 0 comments

Hi, I'm Kevin Kauffman. I'm part of Group 46:10, one of the country's top short sale and real estate groups located right here in Casa Grande. Are you having trouble making your mortgage payments or are tired of being upside down on your mortgage? We at Group 46:10 can provide you with various options to alleviate some of these issues. As one of the leading short sale teams in the nation, we have completed over 500 short sales in the past 4 years and have a closure rate of over 90%.

I'm here today to talk to you a little bit about short sales and tax ramifications. One of the issues that we hear quite frequently from prospective customers is that they would like to short sell their home, but are concerned about the taxes they'll have to pay after the sale. Perhaps you've heard from other homeowners that have done short sales that there were some tax liabilities and wish to find out more.

The Mortgage Debt Relief Forgiveness Act, which ends at the end of this year, allows homeowners, such as yourself, to not pay taxes on the forgiven amount if the property is their main residence and the selling price is less than $2.5million. If you are thinking about short selling your home, you need to act quickly because the transaction needs to be finalized by the end of 2012 in order to qualify for The Mortgage Debt Relief Forgiveness Act.

Please call us or fill out the form on our website, group4610shortsale.com, to find out more about this act or if you have questions about your specific situation. If you do not qualify for this act, don't let that keep you from short selling your propety. We have a couple of other ways to avoid paying taxes as well. A qualified short sale expert, such as myself and my business partner Fred, can discuss those different options with you.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.

What Are Your Short Sale Options?

Posted by webmaster on Jan 24, 2012 in Uncategorized | 0 comments

Hi, are you contemplating a short sale however you are not fairly positive of what your options are? Well, my name is Kevin Kauffman and I am part of Group 46:10, Casa Grande's premiere short sale group and Casa Grande's premiere short sale team. I'm here to inform you that you simply do have choices and I'd love to talk to you about them. My team and I've closed over 500 short sales within the last four years. We're here that will help you so should you want any help, whether or not you've got an FHA loan or maybe you have got a VA loan, we are able to help. Maybe you are not sure because there are different rules around FHA and VA loans compared to loans with your typical credit union or with Bank of America or Wells Fargo.

Come to the specialists and get a free consultation with us. We'd love to speak to you about what your options are. We have worked with each bank out there. We have worked with over one hundred banks. We have dealt with Fannie Mae and Freddie Mac, and FHA and VA, and anyone and everyone in between and we all know that we can assist you.

So please give us a call today. You may reach us at 480-449-6642. You can also fill out a form right here on our website. If you happen to’re not on our web site, you may visit us at Group4610shortsale.com. Here you can get your free short sale decision calculator outcomes as well as request an in person meeting. We'd love to talk to you about your choices and if a short sale is best for you, we'd love to assist you. Thanks lots and have an excellent day.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.

Watch Kevin and Fred, Short Sale Specialists, on the Short Sale Power Hour. Video for Short Sale Specialists.

Home Refinance – Avoid Foreclosure Using the New Stimulus Package

Posted by webmaster on Jan 23, 2012 in Foreclosure | 0 comments

The clear intention of Obama's new stimulus package for homeowners is to prevent foreclosure on their homes. People facing problems when it comes to meeting their mortgage repayments can apply for either a loan modification or mortgage refinancing option in order to avoid foreclosure on their primary home and place of residence.

How the plan works

After refinancing or loan modification the percentage of gross monthly income that the total monthly mortgage repayments can represent is 31% although under certain exceptional circumstances this might be increased to 38%.

The qualifying criteria for mortgage refinancing is different to the qualifying criteria for loan modification but the objective of having affordable mortgage repayments that can be sustained is the same.

For loan modifications this is achieved through various means that may include reducing the interest made on payments, extending the period of the loan or potentially deferring a part of the loan until a later time (balloon payment). In exceptional circumstances there may even be a portion of the loan forgiven, i.e. written off but this is entirely at the discretion of the lender as is the balloon payment. One is called principal forbearance and the other principal forgiveness.

The balloon payment (principal forbearance) can only be applied to loan modifications and not to mortgage refinancing. This part of the loan basically just sits there with no interest or capital repayment being paid. The amount is still owed, but you would not be required to pay it until the rest of the loan is cleared.

Interest rates for the mortgage refinancing are governed by market rates and there are concessions available to help with payments for closing costs or perhaps a title report that can be rolled into the loan for people who do not have the ready cash to hand. These concessions are different depending on whether the loan is under Freddie Mac or Fannie Mae.

You need to assess whether the refinancing option works for you, it is possible that your repayments may not decrease but you may save money over the full period of the loan and you need to assess if taking this option is the correct decision. You can get free advice from a HUD approved housing counselor to help you asses the full financial impact.

The counselor will also be able to advise what other options you have if mortgage refinancing does not work for you e.g. the loan modification route or perhaps looking at the 'HOPE for homeowners' program administered by the FHA.

Visit Need Mortgage Refinance to get detailed information of the stimulus package, what it offers and other alternatives.

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Watch Kevin Kauffman and Fred Weaver of Group 46:10, Short Sale Specialists, on the daily Short Sale Power Hour.

Are You Considering Strategic Default?

Posted by webmaster on Jan 23, 2012 in Uncategorized | 0 comments

Hi, have you been thinking about strategic default? I'm Kevin Kauffman and I'm part of Group 46:10, the best short sale business in Casa Grande. I'm here to let you know that you have alternatives if you're thinking about strategic default. More specifically I want to talk to you regarding the actual consequence of strategic default as it applies to the amount of money that it will cost you to do it.

My business partner, Fred, and I have developed an application named the Short Sale Decision Calculator to help individuals like you decide whether or not a strategic default is right for them. If you click on the link below or visit our website, group4610shortsale.com, it will take you to a website where it will show you the value of your house and ask you to input your interest rate, the unpaid principal balance on your loan and your monthly payment. By putting in this information, we will provide you with a report that will show you how much time it will take for the value of your home and the amount you owe to be the same, as well as how much money it will take to get you to that point. This free report will provide you with the information you need to decide whether or not strategic default is the right choice for you or if you should do a short sale.

Should you decide a short sale is the best decision for you, we'd like to help you out. We have completed over 500 short sales in the past couple of years and have over a 90% closure rate. Please either visit our website or give us a call today so we can set up a free consultation. Group 46:10 can help you avoid foreclosure, get out from your underwater mortgage and successfully short sell your home, so please contact us today.

For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.