Hey Everyone - If you have been on the buyers side of real estate, you will know that every day it feels like going 5 rounds with Rocky Balboa. However, some of the news on the wire that has developed during the past couple of weeks may give you some relief.
Darn you Congress - Get that Debt Forgiveness RENEWED!!!! It's with Congress now. Probably buried under that Fiscal Cliff that has been created. Hopefully soon. The debt forgiveness act gives the Tax Forgiveness for those of you that are Short Selling. That expires on the 31st of December, unless it is renewed. The bill is on someone's table - It has not come up yet... Cross your fingers.
Debt Forgiveness is not the only reason to sell short soon. There are still other benefits if that is what you are wanting to do. Timing, more control over being foreclosed on and potentially getting money as a Short Sale Seller.
The LLC's have seemed to have come across some issues with the banks now wanting them to 'reveal' more personal information related to their LLC. Apparently this is not the "run of the mill" variety info about their LLC, it is much deeper than that.
So Much so, we have a LLC that was confronted by the bank that is handling a short sale we have in Saugus CA, wanting more info - the LLC is going to pull out?
This is GREAT news for Buyers - If the other LLC's follow suit and don't want to give up the info - it may just cut them out of the market!!!
We are watching as Sellers within Real Estate are getting more $$$ than they counted on. At least at first - The buyer's appraisers then come in and have been knocking those values down again.
Be Safe - search well and please forward this Bi Monthly real estate update to other Sworn....