Foreclosure in 94803>Question Details

K, Home Owner in El Sobrante, CA

Property in foreclosure, 1/14/11 in CA - How do I avoid any tax/ mortagage liability, via an accountant - I am without a job?

Asked by K, El Sobrante, CA Mon Jan 17, 2011

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Without a job it will make you qualify for a short sale. Contact a Real estage agent especialized in short sales, it will help to avoid foreclosure.

Best of Luck,

Maria Cipollone
3 votes Thank Flag Link Sun Sep 9, 2012
Please address these questions to your Real Estate Agent. If you don't have an Agent please call me 510-376-3109 and I will be happy to answer your Questions.
0 votes Thank Flag Link Sun Sep 9, 2012
Find Short sale Investor and start the Short sale Negotiation with the Bank but make sure Tthe Investor uses a Negotiation Company because that is the only way you will have all you debt Negotiated.
What I see right now is Realtors submitting deals to the Bank and wanting, on the other hand with a Negotiation company that specializes in Short Sales you stand a better chance at Fixing your debts not just the 1st. lender. Do you have Tax Liens, 2nd Mortgages because I only hear Realtors Talk about the 1st lenders
Web Reference:
0 votes Thank Flag Link Mon Jan 17, 2011
Did you property already go to auction on 1/14/11?
0 votes Thank Flag Link Mon Jan 17, 2011
You missed a big opportunity to negoiate when you didn't try a "short sale". Most lenders today will send you a IRS form 1099 for the amount of loss when they sell the home through a foreclosure sale. A good point for you is that they may not sell the home until next year so the 1099 income will be a year out.
As a "Short Sale" the bank will work with you. You can request they don't send the 1099 (most times they won't) because even though they take loss they don't have all the upkeep, expenses and wasted time trying to contact you as with a foreclosure.
Best of Luck.

Bill Carey, Broker/Realtor
Certified Short Sale Seller Specialists
Cell 704-905-0740
Fax 866-343-5945 l
0 votes Thank Flag Link Mon Jan 17, 2011
In order to best protect yourself and any other assets you may have, you may wish to consult with an attorney who specializes in real estate beforehand; if you cannot afford an attorney, contact your local Legal Aid Society and or local Bar Association, for a pro bono attorney, free--and or keep in mind that most professionals do offer a free consultation.
0 votes Thank Flag Link Mon Jan 17, 2011
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