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Here in Arizona we have a new program to help people get out of a mortgage where they have a negative equity balance.As I understand it. The Home owner wants to sell the house buit owes more than it is worth. If he does not make the payments he will loose his house and ruin his credit.
By volunteary reposission he saves his credit, the finacce company stops action against the owner. The owner then sells the house for what ever he can get. pays the finance company and then agrees to pay the short sale amount to the finance compan. I is a win - win - win solution for everyone.
Seems like a great way of dealing with the problem.
What else can I help you with?
If your primary residence was forclosed and fell short of the balance owed do you have to pay taxes on that shortfall?
Before Bush passed the new law this year, yes, but now NO. Go to the Irs website and read about it. Trust me, I just did a short sale on my home and did a lot of research on it before I did it. This new law is for short sales and foreclosures
If your not a dealer in New York how many cars can you sale by law?
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Short sale tax liability?
Much of whether there is tax liability of a short sale depends on whether the home was a primary residence or not. In most circumstances you will not pay taxes on a short sale if it was your primary residence. This is because of a law that went into effect called the Mortgage Debt Relief Act. If the property was an investment and not a primary residence you may have to pay taxes.
What are the laws concerning voluntary termination of parental rights in New York?
This is was too broad and complicated of an area of law to rely on a few sentences from the internet. You should speak with a family law attorney in New York about your questions.
What is a set of voluntary promises enforceable by law?
contract
What is the business bankruptcy law in New york?
According to law a business may go into voluntary bankruptcy, or it may be taken to court by creditors. This may result in the liquidation of the company assets.
What has the author Floyd C Culhane written?
Floyd C. Culhane has written: 'The design and sale of VEBAs for fringe benefit planning' -- subject(s): Law and legislation, Taxation, Voluntary employees' beneficiary associations
Is voluntary slavery legal in any country?
No, voluntary slavery is not legal in any country. Slavery is universally condemned and prohibited by international law.
What are the release dates for Law for Sale - 2013?
Law for Sale - 2013 was released on: USA: 6 June 2013
Name the law that results from the requirement that all exchanges be voluntary?
Actus reus
What is GA law for returning used cars?
In Georgia, there is no general law that requires dealerships to accept returns of used cars once the sale is finalized. However, some dealers may offer a voluntary return policy or a "cooling-off" period. It's important for buyers to thoroughly review the purchase agreement and inquire about any return policies before completing the sale. Additionally, consumers may have rights under the Georgia Lemon Law if the car has significant defects.
What is a short sentence with the word opposition?
The opposition worked to elect their candidate. They were in opposition to the new law.
