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Category: Tucson Short Sale Help

Understanding the Potential Tax Consequences of Filing a Short Sale

May 31, 2011



Hi there this is Shawn Polston of short sale and Keller Williams Southern Arizona and I’m hear to speak to you today about one of the widespread questions I receive. One of the first questions I get is, ‘will there be tax penalties if I do a short sale?” When a short sale is done you recieve a 1099-C tax type, which represents a cancelation of debt. If a house owner simply walks away or forecloses on their property they are going to recieve a 1099-A, which represents an abandonment of a safe property. Generally a 1099-A will end up costing you ten to forty % more than by filing a short sale and recieving a 1099-C. Due to this fact the amount of loss proven on a 1099-A shall be a lot higher. Most owners additionally should not conscious of the Mortgage Debt Forgiveness Act of 2007 which runs till the tip of 2012. This act is in place to present tax relief to a home-owner after ending a short sale. So as to qualify the property must be your main residence and the debt forgiveness must be less than $2 million dollars. Most property owners fall beneath these two basic tips which is why a short sale might be far more useful on your tax record. When considering your tax questions when shifting a distressed property it is also a good idea to talk with a tax professional who can have a greater understanding of your particular situation. I look ahead to answering some other questions you’ve in regards to the short sale course of and serving to you progress on from your distressed property. Thanks and have an incredible day.

Do you need to sell you home or are you underwater and can’t make your mortgage payments?Shawn Polston is Marana’s Top Short Sale Realtor-Avoid Foreclosure

Don’t Believe What You Hear, Bank of America Short Sale Can Be Quick & Easy

May 23, 2011

Hello thanks for tuning in this is Shawn Polston, owner of Tucson Short Sale Negotiator with Keller Williams Realty. I would like to talk to you today about working with Bank of America on your short sale. Many of the home owners in the Tucson area we have talked with have mentioned how difficult and frustrating it can be to work with Bank of America on their short sale. I’m sure some people have had the occasional bad experience, but I personally have found it rather easy to get a short sale approved with Bank of America. We currently have over 15 files in the works with Bank of America and I am confident they will all get approved. One of the great options that Bank of America offers is the ability to work multiple mortgages for the same short sale client with the same negotiator. Instead of going through the hassle of separate short sales, Bank of America will process both mortgages in the same file and send out only one approval letter for both. My team and I also love using their Equator systems tool to help make the short sale process quicker and easier for both the client and the agent. Well I am sure you have other questions and hopefully you can many of the answers on my website. I would love for you to download a copy of the Short Sale Seller Advisory using the link at the top of this page. Please feel free to give me a call or drop me an e-mail if you are in the Tucson area to see how I can help you. Thank you for tuning in to your Tucson short sale specialist, Shawn Polston and have a great day.

Don’t always consider what you hear, a Bank of America short sale may be quick & simple

May 23, 2011



Hello thanks for tuning in this is Shawn Polston, owner of Short Sale Negotiator with Keller Williams Realty. I would like to speak to you today about working with Financial institution of America on your short sale. Most of the house owners in the space we have talked with have talked about how difficult and frustrating it may be to work with Bank of America on your short sale. I am certain some folks have had the occasional bad expertise, but I personally have found it relatively simple to get a short sale authorised with Bank of America. We currently have over 15 files in the works with Financial institution of America and I’m assured they will all get approved. One of many nice options that Financial institution of America affords is the ability to work multiple mortgages for a similar short sale consumer with the identical negotiator. As a substitute of going by means of the effort of separate short sales, Bank of America will process each mortgages in the identical file and ship out only one approval letter for both. My staff and I also love using their Equator programs instrument to help make the short sale course of quicker and easier for both the client and the agent. Properly I’m positive you could have other questions and hopefully you can most of the answers on my website. I might love for you to download a copy of the Short Sale Seller Advisary utilizing the link on the prime of this page. Please be at liberty to present me a name or drop me an e-mail if you are in the space to see how I will help you. Thanks for tuning in to your quick sale specialist, Shawn Polston and have an incredible day.

Do you need to sell you home or are you underwater and can’t make your mortgage payments?Shawn Polston is Oro Valley’s Top Short Sale Realtor-Avoid Foreclosure

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About Shawn Polston

Shawn has been a Realtor since 2006. Prior to becoming an agent Shawn and his wife were active real estate investors. Shawn takes his education seriously; he’s taken over 200 hours of continuing education classes, to keep up-to-date on current laws and trends. Shawn is a member of the Arizona Association of Realtors Master of Real Estate Society and a Graduate of the Realtor Institute. He is also a HAFA certified Short Sales and Foreclosure Specialist in addition to being a National Association of Realtors Short Sale and Foreclosure Resource.

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