What is a Deficiency Judgment versus the 1099?

So many questions we get on "What is a Deficiency Judgment versus the 1099?". Well here is the answer in short.

When we do a short sale for our customers, our main priority is to leave you, the homeowner, better off than when you first contacted us to stop your foreclosure. This means that we will be requesting that the mortgage company waive any deficiency judgment against you, the homeowner.

It is important to understand that the deficiency judgment can be pursued by the bank to recover any difference or shortage that the bank incurs from the short sale, (the difference between what you owe and what we finally get the property sold for.) The Mortgage company could also mail you a 1099 saying the amount made as a result of the short sale is income on their tax return.

It is our intention to always be clear and upfront with our clients and want you to know before we start the short sale process of what could happen. Being upfront about the short sale process to you is imperative to us. We don’t want to mislead you in any way about the ramifications of the short sale process.

We will request the mortgage company waive the deficiency judgment against you and provide that t agreement to you in writing for you to keep for your records.

If, for any reason your lender will not agree to waive the deficiency judgment against you, we will notify you and leave the decision to continue the short sale proceedings or not with you.

As far as the 1099 being issued, the Federal Government in 2007 made it possible to avoid these charges any certified CPA can advice you on how to get that waived on you tax returns.

We appreciate the opportunity to help you and we do not want to “sell you” on the idea of doing a short sale, we are simply pointing out that if you are behind in payments and owe more that what your home is worth, this may be the only solution.

Thousands of desperate homeowners across the country have turned to for-profit companies that promise to stop foreclosures and gain loan modifications. The vast majority of the companies, regulators say, are con artists who take large upfront fees and do little, if anything, for home-owners.

Speaking with a representative from We-Buy-Houses-Atlanta-Georgia.com, says "Unfortunately, there are just bad people out there that take advantage of others misfortunes. That is just the way it is. It's a shame because it is people like that that make it hard for the companies that really can help people. The scammers have given us a bad name and the government is looking for false or misleading advertisement." - Mary Beth.

But the main point we want to make is with all the Foreclosure and short sale scams out there, please know that there are ethical companies that can help you. These companies will not make any promises, but they can help if you are facing foreclosure. DO NOT pay anyone upfront and do not believe in false promises, but with the right negotiators working for you, there is a possibility that you can get out of foreclosure.

We-Buy-Houses-Atlanta-Georgia.com wants to tell you that if you are facing foreclosure or in foreclosure there is light at the end of the tunnel, not all deficiencies will end up in a foreclosure.

What we can do for you is negotiate with the bank. We have a team of expert negotiators that have actually worked for banks and they will negotiate on your behalf to stop the foreclosure.

Negotiating a Short sale is a time consuming and complex process and you want experienced professionals working hard on your behalf. Let me tell you how it works. Unfortunately most Real Estate Agents, (this may not be true in all cases), but they neglect to tell you about a deficiency judgment, meaning yes, in a short sale they can sell your house by finding a new home owner to buy your house and you can walk away thinking your clean, but in many cases the bank will come after you for that deficiency. Especially in today’s economy most people owe more for their houses than what they are worth and the banks want their money. We have a very high percentage ratio of having the deficiency waived.

There is also a chance that the IRS may send you 1099 because the IRS considers that income, but here is the good news. The Federal Government in 2007 made it possible for you to have that waived, it’s a very simple process but you need to contact us. Get in touch with us and submit your information about your house on our website and we will review your situation and we will let you know in 24 to 48 hours what we can do for you and we will be in contact with you.

Now please beware of short sale and foreclosure scam artists that will charge you upfront. Our service is free, there are no upfront fees and if we can’t help you we don’t believe that anyone can.

Thanks for visiting our website, allow us an opportunity to help you prevent your foreclosure and not even have it appear on your credit. Now we can’t make any promises, but the first step is to take action now.

So please complete our questionnaire and we will be in touch with you with 24-48 hours.

We-Buy-Houses-Atlanta-Georgia.com can work with you to possibly prevent a foreclosure.

Stop Foreclosure Help in Florida
WeBuyRealEstateLLC.

With the downturn in the US housing market and the economy in general, the foreclosures rate all across the country has seen acceleration in several states and Florida is one of them.

If you are facing foreclosure in Florida there are companies available to you that can help you in not only preventing foreclosure, but in most cases these companies are able to even prevent a foreclosure from being on your credit report

Stop your foreclosure now! There will be a good chance that if your property goes to foreclosure sale, the property will not sell for enough to cover the debt plus expenses. In that case, the borrower may still be liable for the deficiency judgment for the difference. There is help in preventing this!

When speaking with an Orlando representative from WeBuyRealEstateLLC.net, she has this to say. "It is unfortunate but may people just are not aware of the options that are available to them. Even if you think you are doing a loan modification to prevent a foreclosure, the banks never get to it and the foreclosure process does not stop. Next thing you know you are getting an eviction notice, the house goes to auction and the homeowner is left homeless with a foreclosure on their credit report. We have a 98% success rate of getting deficiency judgments waived against the borrower! What this means to you is that when the house goes to foreclosure and sells for less the bank will come after you. Our company works with the bank to accept the short sale amount in full with no balance owed to them, therefore, waiving the deficiency judgment against you vs. going into foreclosure."

The lender is not in the business of owning a home they are in the business of lending money. With the right representation there is a good chance that the foreclosure can be stopped and you can leave with no deficiency Judgment against you, but time is of an essence. If you feel you are facing certain foreclosure, you can do something about it!

There are many reasons that cause homeowners to go into foreclosure:

1. The property is upside down -they owe more than what it is worth.
2. Property taxes have increased and they can't afford to pay them.
3. Their interest rate just adjusted to a higher payment and they can't pay it.
4. Job relocation and they can't sell the house fast enough.
5. Divorce or separation causes individuals to go into foreclosure because they counted on two incomes.
6. Job loss or reduction in their income- They just can't afford to pay the payment
7. Bankruptcy - Most people when they are upside down on their bills it includes their house.
8. Retirement sometimes causes a reduction in income.
9. Insurance rates have been increased and they can't afford the insurance
10. Illness or permanent disability causes individuals to get behind on their payment.
11. Tired Landlords - Most of the time, the landlords had great credit but the Tenants won't pay and the Landlord may have uses up all their reserves.
12. Economic and Functional Obsolescence - The property could be in a commercial disctrict and it is residential. The floor plan of the house is old and chopped up.

If any of these situations sound familiar and you are facing foreclosure, know there is hope to preventing a foreclosure and you may not even be responsible for any deficiency judgment

For more information, please visit WeBuyRealEstateLLC.net and complete the online questionnaire and they will start working for you fast and go over all your options with you after reviewing your situation.

Atlanta Georgia - Vacant House - In Foreclosure - Facing Foreclosure - Pending Foreclosure

Help is here if you have a vacant house and/or are facing foreclosure in Atlanta Georgia! -We can help solve your foreclosure problem and often have it removed from your credit! Do you have a vacant home in your neighborhood or are you surrounded by foreclosures in your neighborhood bringing the value of your house down? If you know of any vacant houses or houses in foreclosure, contact We-Buy-Houses-Atlanta-Georgia.com today and we may be able help! Often we can prevent foreclosure and help the home owner prevent a foreclosure on their credit!

Vacant houses in a neighborhood are not only an eye sore to neighbors but can also be a negative effect on all the surrounding house values. When trying keep an upstanding area and a desirable place to live, work, and play, foreclosure and vacant houses can attract undesirables and ultimately kill your house value!

We help people in any situation solve or prevent a foreclosure challenge! When speaking with a native Atlantaian distressed homeowner "I was upside down on my mortgage and facing foreclosure. I did not know were to turn, my co worker told me about We-Buy-Houses-Atlanta-Georgia.com so I contacted them. I was treated with respect and a solution was taylored to my needs,I walked away with my credit intacked"- Todd Hooke, Atlanta Ga.

We can help clean up your neighborhood and start occupying vacant or foreclosed houses! If you know of anyone needing our help please contact us today!

There are so many solutions for all so many house situations; let our years of experience in the housing market shine a new light in today's all so challenging times.Dont delay contact us today www.We-Buy-Houses-Atlanta-Georgia.com

We-Buy-Houses-Atlanta-Georgia.com is currently buying houses in the following areas and surrounding locations of Atlanta Georgia:
Gwinnett County Ga. - Dawsonville County Ga. - Auburn | Berkeley Lake | Buford | Dacula | Duluth | Grayson | Lawrenceville | Lilburn | Loganville | Norcross | Snellville | Sugar Hill | Suwanee | Braselton | Rest Haven - Ankeny | New Bedford | Quincy | Gloucester | Gretna | Centre Alpharetta | Candler-McAfee | Duluth | Dunwoody | East Point | Gainesville | Johns Creek | Mableton | Marietta | Milton | Newnan | North Atlanta | Peachtree City | Redan | Smyrna | Tucker Cities and towns 10k-25k Acworth | Belvedere Park | Buford | Carrollton | Cartersville | College Park | Conyers | Covington | Decatur | Druid Hills | Douglasville | Fayetteville | Forest Park | Griffin | Kennesaw | Lawrenceville | Lilburn | Monroe | Mountain Park | North Decatur | North Druid Hills | Panthersville | Powder Springs | Riverdale | Snellville | Stockbridge | Sugar Hill | Union City | Winder | Woodstock

We Buy Houses Fredericksburg Virginia and Surrounding Locations of VA.
We Buy Houses - Sell Your House Fast!

Do you have a home for sale that isn't selling? We are a group of Professional Home Buyers in and around Fredericksburg that buy houses. No matter the condition, location or price range we may be able to buy your houses in 1 week or less and close when you want! So how do we buy houses so fast? We have a huge list of home buyers that are looking to purchase houses in your location and in some cases can pay cash for your house.

You can sell your house fast by selling your house to us! You see, we're not Realtors® who simply want to list your house for a commission and hope it sells one day. Instead, we're a group of Professional Home buyers who buy and sell houses in any condition or price range all over the states and are actively seeking to buy houses today in all areas. If you'd like to sell us your house faster than you ever thought possible!

Is Your House Vacant? We can buy that vacant house fast! Simply complete our online questionnaire from Sell Your Virginia House Fast and we will let you know within 24-48 hours if your house would qualify for our fast house purchase program!

Does Your House Need Major Repairs? Often it is difficult or not cost worthy to repair a home yourself before selling. If this is your house, don't list and hope it sells, we may be able to buy your house fast!

We know how to buy and sell real estate in the state of Virginia Fast!

No up front fee's, free consultation, only solutions. Tell us about your real estate for sale today!

Go to our website now to Sell Your Virginia House Fast!