Re: To foreclose or not to foreclose?
Posted by Mary Supinger on June 19, 2008 at 22:49:20:
In Reply to: To foreclose or not to foreclose?
Posted by Ames on June 18, 2008 at 21:22:05:
There is a bill that became law to aleve much of the tax on any dollar amount "forgiven" by a lender in owner's foreclosure. You seem to be a great candidate for a loan modification, especially since there are so many people involved with the property.
The response with msoliman is way out there and if that person is an attorney, it should be disclosed. I viewed the web site and they appear to me to be a fringe type service, that, in my opinion doesn't apply her. My license is that of a real estate agent in California working as a mortgage broker. I also help people improve their credit and negotiate with their lenders for better terms on their mortgage loans.
I don't think you should give up yet, lenders are beginning to see that they need to make the process easier on the homeowners because the foreclosure wave is in the beginning stages. Good Luck!
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