So when is a West Sacramento Short Sale a poor choice of
action? When the numbers don’t make sense. You see, for me it is always about
the numbers. Anytime the numbers don’t work to your favor then a West Sacramento Short Sale may not be the best
course of action.
Here is one scenario: When you make
your monthly house payment you currently get a tax deduction at the end of the
year. If that deduction is $6,000 that is the equivalent of getting an extra
$500 each month in your paycheck. No more house payment – no more interest
deduction. If you situation is temporary a loan mod might be better short term.
How about if you have substantial
assets and you are looking to short sale a rental just because it is upside
down? Be real careful on this one. Make sure you talk to an attorney and tax
professional first. Because it is not your principle residence and you are not
insolvent, chances are good you will have to pay income taxes on the forgiven
debt plus recapture any depreciation you may have claimed in prior years.
That’s just two scenarios where a West Sacramento Short Sale may do more damage
than good. Always get an opinion from a qualified real estate attorney and tax
professional with short sale and foreclosure experience. The small cost of the
consult could save you thousands.
To get a better idea of when your West
Sacramento home will be worth what you owe, log in to www.shortsaleandloanmod.info
for a free estimate or call me today for a free no obligation consultation or
for the latest West Sacramento short sale information. Call me
today and sleep better tonight; you’ll be glad you did
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