With January 1st 2013 quickly approaching, It’s become more important than ever before for homeowners across the country, who are living in distressed or underwater homes, to get started with short selling their homes now. The Mortgage Debt Relief Act of 2007 (MDRA) expires on 12/31/12 and after this date homeowners who go through a Short Sale can expect to pay income tax on any of their mortgage debt that’s been forgiven.
In the last part of this four part series we’re going to cover the basics on how to find a qualified short sale agent so any homeowner who is living in a distressed or underwater home can get out from under that home thanks to the benefits of short sale.
Not All Short Sale Agents Are Experienced
The first step to finding a qualified Short Sale agent in Orange County or anywhere else in the country is to find someone who has the actual experience to back up the qualifications that they claim to have.
Questions To Ask:
- How many Short Sales has the agent closed in the last year?
- Do they have online and offline marketing experience?
- Are they familiar with the area where the home is located?
- Is the Short Sale agent experienced in working with the homeowner’s lender?
Always Ask For Referrals
Another good benchmark that can give a distressed homeowner confidence that they are working with a qualified Short Sale agent is if that realtor won’t hesitate to provide the homeowner with references that the homeowner can contact and have confidence that they are working with the right person.
To learn more about the benefits of the short sale process and the importance of short selling before the Mortgage Debt Relief Act expires on December 31st 2012, contact Fred Sed & Associates today by calling (949) 272-0125.