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Mike Venturelli's Blog

By Mike and Izel Venturelli | Agent in Boca Raton, FL

Short Sale NOW before it is to LATE!

Greetings,

Short Sales increased 24% in 2011 and 2012 expects to see a similar increase! Why? Well the Feds have extended HR3648 until the end of 2012 - That allows the IRS to forgive the taxable income on the Short Sale as the Bank reports it so that they can write it off their books...

Also the Housing Affordable Foreclosure Alternative (HAFA) Rules have changed in a BIG way:

No More Occupancy Requirements!

Now you can Short Sale your Investment Properties or Second Home... this is HUGE! Also there can be up to $3000.00 for Owner or Tenant Relocation...

The Second Mortgage can now qualify for up to $8500.00 vs the mere $6 K prior.

The Credit Reporting has changed in a Favorable direction for the Short Sale Owners - at the conclusion of the successful Short Sale the account is noted as Paid or Closed Account!*

Did you know that Chase is offering up to $45,000.00 and Bank of America is offering up to $30,000.00 in Short Sale Closing Relocation Funds!

That is why if you are considering a Short Sale to solve a Problem - Now is the time to start the Short Sale Process.

Call or write if we can assist in any way!

Sincerely,

Mike
The Venturelli Global Team

*Consult your Attorney or CPA for Legal Advice

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