Homes For Sale In Florida

debtfreedomination.com

I think I will go through a short sale with my house in Florida and I have the intention to keep up with my payments until closing date. Bank is likely to agree with the short sale. "The bank has a deficiency Judgement against me? How long to wait before I could make another loan from another bank?

are you current on their payments next? be sure to contact your lender before to initiate a short sale because the lender will have to accept or reject any offer (not you). Normally, if you have mortgage insurance, the lender agree to a sale short, since the difference will be refunded by the mortgage insurance company. if not, the lender can file a deficiency of the sentence, but most likely it will do nothing more than send a 1099 in the amount of deficiency, which means you have to pay income taxes that since in fact the bank is "giving" the difference. although I think in December and the new IRS code exempts from paying taxes on that amount (consult a tax advisor).