Woodbridge Real Estate by Claudia S. Nelson 571-285-4319: Woodbridge Foreclosures

Wednesday, January 2, 2013

Good News! Debt Relief Act Of 2007 Has Been Extended!

571-285-4319 www.VARealEstateExperts.com
Claudia S. Nelson Realtor with Keller Williams Realty

Excellent News for anyone currently participating in a Short Sale or planing to engage in a short sale in 2013 the Mortgage Forgiveness Debt Relief Act of 2007 has been extended.

The Mortgage Forgiveness Debt Relief Act of 2007 allows anyone who participated in a short sale to be relieved of having to pay income taxes on the amount forgiven by their lender. Without the Debt Relief Act extended, home owners that are selling their homes as a short sale would have to pay taxes on the forgiven balance. The Debt Relief Act generally applies for a principal residence.

I am very happy for all my clients that are currently going through a short sale as this means they do not have to pay taxes on the amount forgiven by the bank. I have several clients that started a short sale last year and were worried about the expiration of the Debt Relief Act. I can't wait to tell them the good news.

For more information about the Debt Relief Act and if it will apply to you, you should consult a tax attorney or CPA. The Debt Relief Act may not apply to everyone.

For more information about short sales? Visit my website

I live and work in Woodbridge Virginia and service all of Woodbridge Virginia and surrounding area.

Find out what’s for Sale in Woodbridge Virginia: Click here

Claudia S. Nelson

Keller Williams Realty

Sunday, December 16, 2012

Where to find Foreclosure Listings and Short Sale Listings

571-285-439 www.VARealEstateExperts.com

Where to best find local Foreclosures and Short Sales?

When working with Home Buyers I often get emails or calls with questions about homes that are already sold or under contract. The other day I got an email from a first time home buyer, she was so exited that she found all these great homes at these excellent prices. She emailed me a list with 10 homes every single one of the 10 homes was under contract or sold a while back. I felt so bad to telling her sorry none of the homes you found are available.

What to do? Where to best look for home for sale?

Many of the big websites actually show any home in the area and not just the once that are actually available!

Use a website your local Realtor recommends. Find Foreclosures or Short Sales right here

Searching for homes on a website that will show you the homes that are actually for sale will safe you so much time and safe you from getting frustrated.

If you have questions about listings or would like to schedule a showing feel free to contacting me at 571-285-4319. I hope this information was helpful.