Getting NY Homeowners Out Of Foreclosure and Out of Distress
How Foreclosures in New York City and Garage Sales go Hand in Hand
Going through a foreclosure in NYC, or even a short sale places a tremendous amount of financial pressure on homeowners. You may have to find a new home, change your child’s school, place items in storage, or have a longer commute to work.
One way to find a bit of financial relief is holding a garage or foreclosure sale. This is a way to put money in your pockets, especially if you prepare ahead of time. [Read more...]
Are There Tax Liabilities With A Short Sale?
A short sale is an agreement between you and your mortgage lender that you are eligible to sell your home for less than you owe, it doesn’t mean you are 100% free from that balance. You could have a tax liability for it. Premier Real Estate NYC is one of the few real estate companies in New York City that helps homeowners understand their rights in a foreclosure.
Prior to the 2007 Mortgage Forgiveness Debt Relief Act and Debt Cancellation, the balance was normally taxed as ordinary income. This seems to have come just in time for the 2008 housing crisis. However, since this act, your debt could be forgiven. Here are the 6 steps to file your debt cancellation during tax time. [Read more...]
Bringing Your Pets with You after a Foreclosure
Once the 2008 housing crisis hit, there were so many pets left behind to defend for themselves. It’s hard for families to leave their pets behind, yet they may have had no choice. Families were struggling with finances, feeding, clothing, and housing their families. An additional mouth, their pet, adds on to the stress. Many homeowners in foreclosure look towards a company like Premier Real Estate NYC to assist them with all of their troubles during a foreclosure. [Read more...]
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