Stop Foreclosure: Can I Short Sale My Denver House If Already In Foreclosure?

Westminster CO – The Stop Foreclosure Institute has been receiving numerous questions in regarding performing a short sale after a foreclosure has been started. Just recently, here is a similar question from Dave.

“I would like to short sale my house. However, the foreclosure has already started. I don’t know how soon the bank is going to come and kick me out.

Can I still short sale? Or, is it to late? Dave.”

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the answer to Dave's question, and many others like it.Dave, yes you can still short sale your house!! Having the right short sale broker and team in place can make all the difference in this process!! Discover how Dan Hopper can assist you!!

We have addressed this many times, please review the following blogs and videos that relate to postponing a foreclosure with a short sale!

For related blogs / video blogs, click on the links, below!!

View my VIDEO BLOG atwww.youtube.com/watch?v=CFvdzkF68Cg

http://denverstopforeclosureblog.com/?p=687

http://denverstopforeclosureblog.com/?p=631

http://denverloanmodhelp.com/?p=219

View my VIDEO BLOG atwww.youtube.com/watch?v=H1ZPzfb3xxk


The good news is that you can short sale your house, even if the foreclosure has already started. An experienced short sale agent can tell you for certain if you have enough time or not.

You may have more time than you think. Get the Right Short Sale Broker in your corner and make it happen. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at denverforeclosureblog@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Westminster loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Dan Hopper.

Dan is a Realtor located in Westminster, CO., specializing in Denver loan modification and short sales:

Phone: 303-521-0984. denverforeclosureblog@gmail.com.

View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Denver CO Loan Modification Help, Denver CO Short Sales. Denver CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Stop Foreclosure: Can I Short Sale My Denver House If Already In Foreclosure? is provided as a courtesy to our viewers to help them make informed decisions.

Stop Foreclosure: Reminder, Tax Consequences For A Short Sale?

Denver, CO - This posting is a Reminder about the HB3648, that is still in place through 2012.

Depending on who you are, when someone mentions IRS, it instills fear in most taxpayers. Here is our opinion on the whole forgiveness thing. Please note that all of the info stated below is my personal opinion on this subject. This is not legal or accounting advice. You should talk to a competent legal or accounting professional before making any decision.

You will have Forgiveness of Debt Tax Liability whether you give the house back to the bank or do a short sale. It's true! Before I first started doing short sales, I thought that if the bank foreclosed on your house, you wouldn't get a tax hit. However, I did think that you would get a tax hit with a short sale. So why do a short sale if you then have to pay taxes on the bank's loss? Little did I know that you get hit with the tax liability whether the bank forecloses or you do a short sale.

The government sees it as money you received and never paid taxes on. If you lose a home thru foreclosure, it goes back to the bank and the bank then resells it. However, the amount of supposed debt being supposedly "forgiven" will be much bigger. Why? Because the bank will lose a lot more money. Take the case of a homeowner that CitiMortgage turned down for a short sale. The agent presented them an offer of $385,000, but they rejected it. The bank thought they could get more money after foreclosing on the house and then re-selling it.

However after foreclosing on the house, the bank was only able to re-sell it for $230,000. This left the homeowner's with over $210,000 in debt being forgiven. If the bank had taken their original short sale offer, they would have only had $35,000 in debt forgiven. That's a big difference, right?

Now, here's the good news. The Mortgage Forgiveness Debt Relief Act of 2007, changed all that. Normally, when a lender decides to forgive all or a portion of a borrower's debt and accept less, the forgiven amount is considered as income for the borrower and is liable to be taxed.

However, after the signing of the Mortgage Forgiveness Debt Relief Act, amendments have been made to remove such tax liability and allow the borrower and lender to work freely together to find a common solution that is beneficial to both parties. This protection is limited to primary residences -- rental properties are ineligible for relief -- so consult with a tax advisor. The amount of forgiven mortgage debt allowed to be excluded from income tax is limited to $2 million per year.

Property that was originally acquired as "Income Producing", will not qualify for this tax relief!! So, those that bought an investment property with funds from the lender as an investment property need to get legal counsel to determine their options!

Here is one good thing that comes out of this whole tax thing. It give you lots of ammo to hold off the bank from collecting a deficiency judgment from you. If your bank files a 1099 for the lost income after you do a short sale, then they cannot collect money from you after that. And you can easily get rid of that tax liability by filing a Form 982 with your tax return.

Click here to view the Mortgage Forgiveness Debt Relief Act and Debt Cancellation.

Click here to view the article, Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim Relief on Newly-Revised IRS Form

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at denverforeclosureblog@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.


Thanks for reading this, Dan Hopper.

Dan is a Realtor located in Westminster, CO., specializing in Denver loan modification and short sales:

Phone: 303-521-0984. denverforeclosureblog@gmail.com.


View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Denver CO Loan Modification Help, Denver CO Short Sales. Denver CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

For related blogs / video blogs, click on the links, below!!

http://denverloanmodhelp.com/?p=219

http://denverstopforeclosureblog.com/?p=735

http://denverstopforeclosureblog.com/?p=375

View my VIDEO BLOG atwww.youtube.com/user/avoidforeclosures

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Stop Foreclosure: Reminder, Tax Consequences For A Short Sale? When Will I Have to Move Out?, is provided as a courtesy to our viewers to help them make informed decisions.

Loan Modifications: My House is in Foreclosure. When Will I Have to Move Out?

Westminster CO - The Stop Foreclosure Institute recently received a question from a homeowner facing foreclosure. I'll call him Dave to protect his identity.

(Foreclosure is embarrassing and I don't want to put his name out there.) Dave asked, "I haven't made a house payment in a while. I'm just wondering how much longer it will be before I have to move out?"

Get my Free, Step By Step Loan Modification Guide by clicking here.

Most people in foreclosure are at a disadvantage because they how the process works. Here is the answer to his question.

It all depends what on the state he is located in and whether or not his lender has started the foreclosure process. So the first thing you should do is find out if the foreclosure has been started.

In Colorado, we have an accelerated foreclosure process and the Public Trustee's office in each County is responsible for the foreclosure process.
View my VIDEO for details in Colorado, at www.youtube.com/watch?v=MRHroxI7eb8

You can do that by calling the courthouse in your county or town. For example, if you live in Orange County, then you would call the Orange County Courthouse. They will direct you to the correct person.

Once you find the correct people, ask them for the foreclosure department. Then, ask the clerk there how you can research if a foreclosure has been filed against you.

They will either direct you to a website, or look up the information on their computer. Here is why it is important to find out if the foreclosure has been started.

We have seen many lenders wait 8 months, 12 months, and sometimes even longer, to start the legal foreclosure process. Many of them are backed up and don't have the staff in place to handle everything.

Once the foreclosure has been started you will want to see how far along it is. Every state handles foreclosure process differently. In addition, they all have different time periods for redemption.

Because of that, I would recommend you contact a competent Stop Foreclosure Institute Specialist in your area. They can answer that question or at least point you in the right direction.

Thinking about a loan modification?Our Westminster loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at denverloanmodhelp@gmail.com to request a Free Copy.

Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at denverforeclosureblog@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.


Thanks for reading this, Dan Hopper.

Dan is a Realtor located in Westminster, CO., specializing in Denver loan modification and short sales:

Phone: 303-521-0984. denverloanmodhelp@gmail.com.


View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Denver CO Loan Modification Help, Denver CO Short Sales. Denver CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

For related blogs / video blogs, click on the links, below!!

http://denverloanmodhelp.com/?p=219

http://denverstopforeclosureblog.com/?p=735

http://denverstopforeclosureblog.com/?p=375

View my VIDEO BLOG atwww.youtube.com/user/denverloanmodhelp

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Loan Modifications: My House is in Foreclosure. When Will I Have to Move Out?, is provided as a courtesy to our viewers to help them make informed decisions.

Short Sales: Forensic Audits Exposed

Westminster CO – If you are thinking of short selling your house, then you have probably about forensic loan audits. Some claim they are wonderful. "Your lender will approve your short sale right away", one so called expert claimed.

"Your lender is more likely to give you a loan modification after you discover they broke the law. And most loans were illegal during the crazy lending period we experienced recently", claims another.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Even more insane is the guy who claims, "Lenders will jump over themselves to approve your short sale flip offer." I didn't know if any of this stuff was true.

But, I did hear a story where a lender didn't care about the forensic loan audit. An agent I know was working with a woman who was trying to sell 3 houses.

He knew they were short sales and was glad to list them for sale. There was a guy involved who was supposed to be doing all the "negotiating" with the lender.

Little did this agent know this guy was trying to flip the houses. (Buy for X and resell for $10,000 more.) This guy had someone do a forensic loan audit.

He did this in an attempt to force the lender to approve the short sale. The only problem was the lender didn't care. The negotiators at the lender were not going to approve the short sale flip offer.

"We know this guy is trying to flip the house. We won't approve the short sale as long as he is doing that", they said.

This was despite the forensic loan audit that some claim will have lenders trip over themselves to approve the short sale. It appears they aren’t as eager as some people would have you believe. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at denverforeclosureblog@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 303-521-0984

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Westminster loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.


Thanks for reading this, Dan Hopper.

Dan is a Realtor located in Westminster, CO., specializing in Denver loan modification and short sales:

Phone: 303-521-0984. denverloanmodhelp@gmail.com.


View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Westminster Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Denver CO Loan Modification Help, Denver CO Short Sales. Denver CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

For related blogs / video blogs, click on the links, below!!

http://denverloanmodhelp.com/?p=219

http://denverstopforeclosureblog.com/?p=631

http://denverstopforeclosureblog.com/?p=375

View my VIDEO BLOG atwww.youtube.com/user/avoidforeclosures

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Short Sales: Forensic Audits Exposed is provided as a courtesy to our viewers to help them make informed decisions.