Willie Lambright Real Estate Show – November 15, 2011

Here are some highlights from the Nov. 15 Willie Lambright show. If you haven’t listened live yet, tune your radio dial to KVCE 1160 on Tuesday mornings from 9 to 10. You can also listen online here. Just scroll down to Nov. 15, 2011, hr two, Oyezz Real Estate.

•    If you have received a foreclosure notice, call us NOW – 972-342-0011! It is not too late for a short sale!
•    Taxes – with a short sale, property tax is paid by the bank at closing. There is no income tax due on a short sale.
•    A short sale transaction should be FREE to the homeowners. Be aware of any agents (or anyone) who requests to be paid up front. This a warning sign.
•    A short sale gives homeowners time to find a new place to live. You can stay in your house while the house is being sold.
•    Qualifications for a Short Sale: 1. Are you facing a financial hardship such as job loss, medical issue, divorce, relocation? 2. Does the homeowner owe the lender more than the house is worth?
•    In a Short Sale, the amount owed to the lender is forgiven by the lender.
•    Do not make the mistake of going to an agent or attorney that does not specialize in short sales.

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