Tag Archives: short sale

Short-Sales Explained

Posted on December 28, 2011 by Mark Killion

What is a short-sale? A short-sale is a type of distressed property sale. It is not a traditional re-sale of a property. In a short-sale, a lender agrees to accept a payoff that is less than what they are owed. … Continue reading →

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Mortgage Forgiveness Act expires at the end of 2012

Posted on December 21, 2011 by Mark Killion

FYI: The Mortgage Forgiveness Debt Relief Act Expires in 2012… If you are thinking about selling your primary residence, and you are upside-down in your mortgage, do it in 2012 or forever hold your peace…after this act expires, the forgiven … Continue reading →

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R. Kelly is selling his mansion – Short Sale style

Posted on December 17, 2011 by Mark Killion

Photo credit: Cook County Tax Assesor Famed R&B singer R. Kelly has his mansion on the market for sale. It is listed as a short sale. This means that the mortgage on the property is higher than the current asking … Continue reading →

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