Category Archives: Marty TV

Videos on real estate related topics

You are not your credit score! | Marty Macisso | Maine Short Sale expert agent

 

You are not your credit score! | Marty Macisso | Maine Short Sale expert agent

 

 

 

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Maine Short Sale Laws | Mortgage Relief Act extended into 2013

 

Maine Short Sale Laws | Mortgage Relief Act extended into 2013

 

 

 

Marty Macisso of Regency Realty Group discusses the Mortgage Debt Relief Act extension for the entire 2013 year. Now is the time to list your home as a short sale if you have not.

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Maine Short Sale blog: Loan modification vs Short Sale – what is better in long run?

 

Maine Short Sale blog: Loan modification vs Short Sale – what is better in long run?

 

 

Maine Short Sale blog: Loan modification vs Short Sale – what is better in long run?

Maine Short Sale blog: Loan modification vs Short Sale – what is better in long run?

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Maine Short Sale Law | Deficiency Judgements on the rise?

 

Maine Short Sale Law | Deficiency Judgements on the rise?

 

 

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What is the Mortgage Debt Relief Act of 2007 | Maine Short Sale Law

 

How does the expiration of the Mortgage Debt Relief Act next year affect you?

Individuals who lost their homes through property foreclosed will not have to pay earnings tax on the amount of mortgage debts that was pardoned or ended. Tax-free treatment is also available to people who updated their house mortgages loans for a lower balance.

The tax-free exemption relates to ended mortgage debts of up to $2 thousand (or $1 thousand is wedded and processing a individual return). There are additional details to consider to be eligible for a this tax exemption. The house must have been used as a main home, which means it was the major place of property for the person. Also, the debts must have been used to buy, develop, or make substantial improvements to the property.

Some mortgage debts won't be eligible for a this tax-free exemption and will be considered taxed earnings. Loans that don't are eligible include hel-home equity loans where the proceeds were not used to buy, develop, or improve the property. Also, home mortgages for second houses and rental properties do not be eligible for a the exemption. However, some or all of this debts might be eligible for a other exceptions.

The IRS explains the tax break this way: "Taxpayers can remove up to $2 thousand of debts pardoned on their major property. The limit is $1 thousand for a wedded person processing a individual come back. This provision relates to debts pardoned in 2007, 2008 or 2009. Debt reduced through mortgage restructuring, as well as mortgage debts pardoned in connection with a property foreclosed be eligible for a this comfort." (Source: IRS.gov)

Individuals who be eligible for a this tax comfort will need to use Form 982 to report the ended debts.

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Maine Short Sale News: Bank of America offering up to $30,000 cash in limited time offer

 

 

 

Bank of America Co-Operative Short Sale Limited Time Offer

Up to $30,000 in cash at closing

Maine Short Sale Specialist Marty Macisso discusses this breaking announcement in his latest vlog.

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Maine Short Sale Network: Bank of America new changes to speed short sale approval process

 

Effective April 14 2012 Bank of America has changed their short sale process to fast tracking the approval to 20-30 days!

Contact the Maine Short Sale Network resident expert Marty Macisso for more information about your situation today!

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Maine Short Sales: BOA changing Equator to make for 20 day approvals!

 

Breaking short sale news

Bank of America is making changes in April to make the Maine short sale process much faster – 20 days!

Maine Short Sale Expert Marty Macisso discusses this in his quick vlog.

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Maine Short Sale Vlog: HAFA expires end of 2012

Attention fence sitters!

The HAFA Short Sale program expires at the end of 2012!

Don't wait for Loan Modifcation #4 and lose out on HAFA's benefits. Act Now!

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Maine Short Sale Vlog: Qualify for mortgage after a short sale – no wait time!

Most people don't realize that a Maine short sale seller can qualify for a mortgage immediately after completing the sale. A few criteria must fit:

  • Seller must not have been late on the mortgage or any consumer debts within a 12 month period preceding the short sale
  • Seller cannot be taking advantage of declining conditions

For sellers with late payments prior to the short sale then they are looking at a 24 month wait period.


Other credit and income criteria are going to be looked at as well during the application process.

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