When negotiating with creditors on a debt settlement plan, it is important to keep certain things in mind. Your debt negotiation tactics will help determine whether your creditors will decide if it is prudent to settle your debt for less than you currently owe, and it can be tempting to paint your finances in the  … Read more

The 2007 tax law enacted by the IRS that prohibits treating short sale debt forgiveness as taxable income is set to expire, according to a foreclosure lawyer. This same law was set to expire at this time last year, but Congress enacted legislation to extend the program for 2013. This time around, no such legislation  … Read more

Selling your home via short sale is still an attractive option for some homeowners facing underwater mortgages and looking for a way out. A recent study showed that the average short sale results in $60,000 in debt forgiveness; for the struggling homeowner, that forgiven debt can be a godsend. There are more than a few  … Read more

If you are one of the many American homeowners currently faced with an underwater mortgage, you may be wondering what your options are. Talking to a foreclosure attorney is a good first step, as they will be able to guide you to the best solution for your personal needs. Here are a couple of possible  … Read more

Many people are all too familiar with the words “short sale” in today’s housing market. These properties have been a significant portion of all home sales since the bubble burst years ago, and that trend has continued even while the market is showing signs of beginning to recover. Still, it is always good to be  … Read more

Dealing with an underwater mortgage – a mortgage in which you owe more on your loan than your home is currently worth – is an issue that has faced all too many homeowners in recent years. Since the housing market nosedived in 2007, as many as 12 million or more homeowners found themselves at one  … Read more

There is an awful lot of information out there about short sales these days, and the overabundance of advice can get confusing. Essentially, a short sale involves convincing your lender to agree to a sale of your property that will not fully cover the amount you owe on the mortgage. But it gets complicated quickly.  … Read more

If you are facing back taxes and looking for a way to have the payments reduced, there are strategies for negotiating with the IRS to do so. Debt negotiation in the form of a repayment plan is a very common way in which debtors with big amounts owed in back taxes can set up a  … Read more

A new study released recently shows that Dallas foreclosure rates are hitting record lows, with foreclosures down 49 percent from a year ago at this time. The numbers are consistent with a nationwide decrease in foreclosures that optimists are seeing as the beginning of a total housing recovery. Foreclosure Rates Lowest in Decade In Dallas,  … Read more

  The Home Affordable Refinance Program (HARP) has made refinancing your home and escaping crushing mortgage debt an option for many homeowners since 2009. However, there are still plenty of questions many borrowers have when seeking to refinance. These questions concern everything from eligibility to the terms of refinancing. Answers to some common eligibility questions  … Read more