There is no waiting period on selling your home. I would love to help you out. I will give you a free analysis of your home and discuss the different marketing stratagies that will give you the most exposure and quickest sale.
John D. Clidy
Century 21 Rauh & Johns
508 Hurffville-Crosskeys Rd.
Sewell, NJ 08080
#1 Selling Agent in NJ (2007-08,10)
Top 25 Selling Agent in the U.S.A. (2007-10)
Platinum Circle of Excellence Winner (2007-08,10)
Loan forgiveness is up to negotiations and will almost always be given especially for certain situations and types of loans. But your realtor will be most importantly the foremost front line person in your life during this process. Make sure they have the experience to guide you and protect you before signing up. A listing agreement is not enough.
As long as this is your primary home there is no tax bill from uncle sam. None!
There is so much more to know including their is no cost to you!
Thinking about a short sale Visit
Here is the government website for HAMP loans: http://www.makinghomeaffordable.gov/programs/Pages/default.aspx copy and paste into your browser if you can't click on the link. I see no time restrictions, but for your modification to become permanent it says it may take 3 to 4 months, just to make sure you can make the new payments. Either way I don't see a restriction on selling. You always have the option of a short sale and for now that eliminated debt is forgiven for Federal income tax purposes.
I want to be YOUR Realtor for LIFE!
Gyle McCollam, SFR, CNHS, RCC
Coldwell Banker Elite, Realtors
408 Swedesboro Rd
Mullica Hill, NJ 08062
email@example.com email address
I can help you move from around the corner to around the world. Ask me how!
As far as I know there is no waiting period after completing a modification to sell your home. You can currently be in a trial payment situation and still put your home up for sale. Remember, the home is yours not the bank's so you can sell when you're ready.
If you get to the point where you think it is better to sell than to keep it, you have many options. Keep in mind however, if the bank forgives any of your debt via short sale or foreclosure, you will probably get a bill from "Uncle Sam" asking you to pay taxes on the forgiven amount. Currently, sellers only have until 2012 to have those taxes forgiven, so time is always of the essence.
Hopefully this was helpful!
Century 21 Rivera Realty
Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp, Washington Twp & South Jersey Real Estate Markets