Mike Karsten's (mikekarsten) Blog

What happens when a property goes to Auction to the defaulting balance?  The foreclosing lender gets the home back and that is it.   In Washington State the foreclosing lender will not be able to chase the default.  However any note that is foreclosed off is still valid, that lender will have los...

This is one of the dirty little secrets that most  distressed home sellers don't understand.   My understanding is if the property goes through the foreclosure process in Washington State.  You will not receive a 1099 meaning you will not have tax consequences.   The Killer is you end up with the...

The fact is the Real Estate Market is in a state of depression.  On a weekly basis I see respected well know Realtors, Mortgage Brokers, Builders and Investors all show up on the foreclosure lists.  I have yet to see any type of stimulus that targets these problems.  Therefore here is some of the...