Tracy CA Short Sale

Tracy CA Short Sale

WHAT IS A SHORT SALE?

A short sale refers to the sale of real property for an amount less than the amount owed on the property...

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WILL THIS HURT MY CREDIT?

You can maintain a high credit score by completing a Short Sale without missing payments on your mortgage and other bills...

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TAX IMPLICATIONS OF SHORT SALE

With a Foreclosure or a Short Sale you will be given a form 1099 (A-“Acquisition or Abandonment of Secured Property,” or C-“ Cancellation of Debt”). The tax consequences are the same although the forms vary. You may be liable...

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WILL THE BANK APPROVE?

It is usually more cost-effective for a bank to agree to a short sale, rather than foreclosing on a home. With a foreclosure there are additional legal fees, monthly upkeep fees on the property, etc...

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*TRACY CALIFORNIA SHORT SALE INFORMATION