The real estate brokers at Portfolio Aspen Properties discuss the implications of Congress not extending the Mortgage Forgiveness Debt Relief Act of 2007 by the looming December 31, 2013 deadline, which will mean homeowners that short sell or grant a deed-in-lieu-of-foreclosure may also end up with a substantial tax liability. Typically, when a homeowner short […]
View MoreBuyers 1) If you get financing, an appraisal has to come in at the contracted purchase price. 2) Make sure you understand whether your loan is recourse or non-recourse and the implications of each type. 3) Always ask for the vesting deed to the seller so you know what legal rights the […]
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