Livermore Homes Blog

I have been getting a few phone calls from folks, who have been checking out my recent posts on Short Sales and Foreclosures .  I think the headline worked.  Joan and I actively work with sellers, who may qualify for a short sale.  Everything I have been reading lately shows that in most, but not all cases, short sales are a win-win for sellers and lenders.  They are not easy and despite the fact, that you would think that banks and other types of lending institutions would understand economics, they don’t always get why a short sale is in their best interests.  So trying to work smarter not harder, and rather than suggest that I am an ultimate authority on Short Sales and Foreclosures, I thought I would point those interested to a couple of sites with lots of information on both situations.  The first site is the California Association of Realtors or www.CAR.org, and here is a pointer to their legal “copyrighted” articles.  It says it’s just for members but I think anyone can take a look at the information as long as you don’t infringe on their copyright since I got to this link without logging in.  Anyway, I included all their legal articles so you have to scroll down to short sales and REO’s to look at what the C.A.R. says about them.  One caveat, some of the references to tax consequences on short sales seem to be out of date, and don’t refer to HR 3648 .  You do want to check with your CPA or tax person about tax consequences of a short sale.  Another company that we are planning to work with has a fairly good “FAQ” section on their web site about these issues.  Check out www.shortsalesexpress.com and click on their FAQ button.  Hope this helps, but feel free to call us if you have any questions especially if you are in the Tri-Valley Area, outside of this area you may want to check out HUD  approved counselors.