Foreclosure in 36527 : Questions & Answers

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Mary McNair, Real Estate Pro in Fairhope, AL
Mary McNair answered:
What additional costs are involved when purchasing a home in Baldwin county AL, whether a foreclosure or a regular sale?
Exact closing costs will vary from transaction to transaction, but typically the buyer is responsible for paying to have documents prepared and the deed filed with the county, as well a ... more
0 votes Share Flag Wed Feb 20, 2013 Foreclosure in Spanish Fort
Destiny Parks, Real Estate Pro in Baldwin County, AL
Destiny Parks answered:
Just what is the Emergency Economic Stablization Act of 2008 that President Obama signed?? Doesn't it prevent IRS from trying to tax the
The Act you are looking for is The Mortgage Forgiveness Debt Relief Act and Debt Cancellation. Here is the link for it (below).
0 votes Share Flag Wed Feb 17, 2010 Foreclosure in 36527
James Deskins, Real Estate Pro in 43082
James Deskins answered:
I am a REALTOR and have sold several short sales in 2009. My clients are now receiving notice from IRS that taxes are due on the amount that the
Sylvia, The IRS considers the amount forgiven as taxable income. This stinks, but it's the reality of the situation and they will likely have to pay it.
0 votes Share Flag Wed Feb 17, 2010 Foreclosure in 36527
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Can mortage co demand payment for short sale? Fannie Mae sent papers saying debt was cancelled?
Not knowing all the facts and what actually has taken place--why not contact an attorney specializing in real estate and review all documentation regarding the short sale.
0 votes Share Flag Sat Feb 13, 2010 Foreclosure in 36527
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