Knoxville Area Short Sales

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Real Estate Agent - Keller Williams Realty, Knoxville-West - 319217
Many of our clients ask us, "how long will it be before I can qualify for another mortgage after a short sale?".  The answer to this question just became a lot better with FHA's new mortgage qualification guideline.  Before now, borrowers looking to get approved for an FHA mortgage had to wait a...
Click HERE to access a recent publication from the IRS that highlights some of the details of the Mortgage Debt Forgiveness Act. This is a must-read for those considering a short sale to sell their homes.  "If you are a homeowner whose mortgage debt is partly or entirely forgiven during tax years...
The Holli McCray Group @ Keller Williams Realty  (865) 291-0355 Knoxville's Area's Most Experienced Short Sale Team CLICK HERE TO FIND OUT MORE ABOUT THE SHORT SALE PROCESS   The Holli McCray Group is Greater Knoxville's top short sale team. Our team's goal is to provide our clients with the know...
Congress and The House of Representatives both voted to extend the Mortgage Debt Relief Act of 2007 through 2013. This is fantastic news for borrowers who are in the midst of pursuing short sales. Under this Act, borrowers/homeowners who complete a short sale may be exempt from paying income taxe...
This is an absolutely fantastic program for B of A customers that qualify.  We just had a short sale client of ours qualify for $15,000 at closing.  Chase Mortgage is also offering a similar incentive program for some of their loans.  FHA and HAFA are two other programs where borrowers can quali...
All indications to this point are that this Act will be extended, but just like a real estate transaction, it’s not a done deal until the documents are signed.  If you take this incentive away from distressed homeowners, there is little doubt it will cause more people to walk away from their home...
Apparently lenders are changing how they are reporting short sales to the credit bureaus.  Even though I am in "believe it when I see it" mode with this, it still provides some perspective on the mindset of mortgage holders when it comes to short sales. The article tells me that mortgage holders ...
  The real solution to a shorter short sale timeline is to hire more negotiators and support staff. With most of our short sales, the majority of the time is spent waiting for a response from the short sale negotiator, short sale processor or mortgage holder. We are very skeptical this will yield...
Not sure government regulation is the answer here.  My question is, how would the government possibly enforce this?  Unless you provide a real incentive to the servicers to complete short sales in a more efficient manner, I don't think you can expect any change.  Proposed Bill to Speed Up Short S...
  This is a "no-brainer" if you ask me! It would have a very positive impact on those who complete a short sale on their mortgage. It keeps homeowners from having to pay income tax on the debt forgiven by their lender. This Act has been quite beneficial for those we've helped close short sales fo...

John Verdeaux

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