While my competition hates that, Rain or Shine, Sick or Sleepy, the Show must go on – The Lame Duck I’m referring to is the next session of congress to be held on November 13, 2012. You may be wondering why all of the hype about the debt forgiveness? First, before getting into that – let’s talk about what debt forgiveness is.
When someone is having a hard time making their mortgage payment due to the three D’s and one J – Death, Divorce, Disease, Job(Loss or other), they typically stop paying their mortgage to focus on more important things, like food and health coverage.
It is at that time most seek out the help of a Local Real Estate agent to assist them with short selling their home. For discussion’s sake, if they owed $500,000 on their home, yet today is was only worth $300,000 – that is a difference of $200,000. (remember that figure – that $200,000 is the debt that would be forgiven today and in the future if the bill in front of congress is extended).
Those differences between what is owed to the bank holding the mortgage and the amount the property is worth typically require the “human component” to pony up and pay taxes on that portion. Since 2007 – and in most cases – This has not been the case and it is about to run out come the end of 2012, unless extended.
I’m sure the fireworks will go off if and when it does, stay tuned to our daily show and subscribe by hitting the large red button on the right to get our bi monthly updates about the topics that matter in your real estate world.
New Inventory and new real estate listings for sale can all be found by heading over to the Paris911 main website and typing in the word “new” into the MacBoX. You will see a real estate portal we created that posts up the newest in real estate listings for sale.
When it comes to using local – verification is very nice. When searching on-line, if you are the real estate interested, there is nothing quite like using local Experts when approaching the real estate buying or selling table. We do a lot of talking about the “tricks” provided by the Real Estate syndication websites in order to make $$$ from your personal and private information.
However, people are still getting caught up in the web’s. Do yourselves a favor – whether the Paris911 Team in Santa Clarita Valley, or another team, make sure they are local real estate agents at a real and verifiable company with a real address – please…. Be Safe and click here to see our Google Places Pages for Business showing we are Real Live and Local Santa Clarita Real Estate agents.