Germantown Short Sales Expert Specialist

Germantown Short Sales Expert Specialist

QUESTIONS AND ANSWERS

Q: Which is worse in terms of effect on a credit score – foreclosure, short sale or a deed in lieu of foreclosure?

All of them will affect your credit. . A foreclosure has the most negative effect. Every bank reports it differently. Most will report it as "settled for amount less than owed". Ultimately, if your credit score is important to you, avoiding a foreclosure should be priority one

Q. What is my tax liability in a short sale ?
Currently a Bill in the U.S. Senate ( H.R. 3648) that alleviates any tax liability created from a Short Sale on your primary residence. The key word being primary residence. An investment property is defined as you living less than 2 years for the last 5 years.

Q. What is insolvency when it applies to short sales?

Insolvency is when an individual’s liabilities exceed their assets. Simple enough. A test to determine your liabilities and your assets immediately before the cancellation of your debt will tell you if you are insolvent or not. .. .for a short sale, in most cases you must be insolvent.

Please watch our video “ Help, my home will be foreclosed soon. . can you help me?

Below you will find some of the properties we have closed or are currently active and under contract

Short Sales Listed by Herbooso & Associates

Please read my eBook about short sales below. .It will answer many more questions about short sales in general.

The Short Sale Option

An important question:

How much a short sale cost me Fernando ?:

SEE ANSWER HERE

Call Fernando Herboso Realtor® Associate Broker

240-426-5754 for a FREE Consultation.

What our clients say about us. .

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“Thank you Fernando  and Susan (Team Member)for EVERYTHING!  We are so relieved to be out of this mess and to be able to start over again.
It really has taken a load off of our minds and knocked down the stress level A LOT!  You were both completely on top of your game (and the mountain of paperwork) which made this entire process go so smoothly.  I really cannot believe that it’s OVER and everything did work out to our advantage.  We knew we were taking a gamble with the short-sale, but we really owe our success to you and your team.”

THANK YOU!  THANK YOU!  THANK YOU!
Amanda & Eric B

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"Herboso & Associates did an excellent job of listing my condo and handling the short-sales process for me.  Fernando is extremely knowledgeable and took the time to answer all my questions and concerns. He was efficient and took care of all the negotiating with the lender and the buyer.
California Client, A. Nguyen"

Read my latest book www.AdiosLender.com here

Disclaimer

The information contained in this website is intended to be used for informational purposes only and to provide a general overview of the topics described herein. There may be tax and other legal consequences associated with a short sale.  Herboso & Associates makes no representations or warranties concerning potential tax or legal consequences relating to any final disposition of any property in a short sale.

Homeowners are advised to consult with a tax professional regarding the potential tax consequences for their particular situation. Herboso & Associates are not Advisors and they are not a legal law firm. We strongly encourages all parties, agents, homeowners brokers and mortgage lenders involved in a transaction to seek such advice from a professional advisor.

Fernando is an Associate Broker and  founder of Herboso & Associates for MD, VA and  DC

Call Fernando Herboso Realtor® Associate Broker

240-426-5754 for a FREE Consultation.

PRESS THE BUTTON FOR INMEDIATE HELP FOR

Germantown SHORT SALES

Germantown  Short Sales Expert Specialist