Monthly Archives: August 2012

Time Running Out on Tax Forgiveness for Short Sales

One of the most important pieces of real estate and tax legislation is set to expire at the end of 2012.  The Mortgage Forgiveness Debt Relief Act has benefited countless borrowers who have sold their home in a short sale and had their debt “forgiven” by their lender. For a brief explanation of how this […]

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New Guidelines to Make Short Sale Approval Easier

For the 2nd time this year, Fannie Mae and Freddie Mac will issue more guidelines to make short sale approval easier for eligible borrowers.  Back in June, Fannie Mae issued guidelines to speed up the process, but these new guidelines (effective November 1st, 2012) are aimed at overcoming some of the obstacles that borrowers face […]

Posted in Fannie Mae & Freddie Mac, Foreclosure News, North Carolina Short Sale News, Short Sale Info for Realtors, Short Sale Info for Sellers | Comments closed

Short Sales Increase as Banks Realize Their Benefits

2012 is shaping up to be a big year for short sales, and it should come as no surprise.  Nationwide, short sales peaked in the first quarter of 2009 (105,000 short sale transactions nationwide), but preliminary data indicates that 2012 could come close to those same levels. According to a report from RealtyTrac (A Building […]

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NC Real Estate Commission Drafts New BPO Rules

As previously discussed on this site, NC Senate Bill 521 will grant real estate agents the right to perform a Broker Price Opinion for compensation even if there is no reasonable expectation of obtaining the listing.  Previously, to perform a BPO, the agent had to have some expectation of obtaining the listing or be licensed […]

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