mike gremila's (realestatemikeg) Blog

A: It is possible that any financial obligations would not be wiped away in a foreclosure. The owner may still have an obligation to repay any remaining balance. And say "goodbye" to having good credit or good interest rates on any credit cards, car loans, or home purchases for at least the next...

A: For income tax purposes, the debt that was forgiven could be taxed as if it were income. So, if $30,000 of debt was forgiven, the seller could have to pay income taxes on that $30,000. This rule may change because of the hardships involved. An agent experienced in short sales will help make s...

A: It's not like a bankruptcy or foreclosure that stays on one's credit. However, the owner's credit score could be affected by 100 - 150 points because of missed mortgage payments -- there can't be a short sale if the homeowner is not delinquent on his loan. The homeowner has the banks 'ok' to ...

Here's How It Works We set you up with a Realtor in our nationwide network of preferred short sale Realtors, or use the one you're currently with, to market your property and receive an offer before your property is sold at foreclosure auction. We help you gather financial information to support ...

Not Sure If You Qualify For A Short Sale? Do You Owe more on your property than what you could sell it for, especially after real estate commission, closing costs, late payments, interest, etc? Have difficulty covering your expenses each month? Not have money in the bank to cover the difference o...

  When a homeowner has to sell, has defaulted on the payments, and the proceeds from the sale are going to be less than the mortgage amount, then the bank needs to approve of a "short sale". A short sale usually occurs when the owner cannot make the mortgage payments and has little or no equity i...

  Named for Revolutionary War General John Lacey and was formed on March 23, 1871.  General John Lacey in partnership with his son Thomas R. Lacey, developed Ferrago Forge on the middle branch of the Cedar Creek eight miles northwest of Forked River in 1809 which included an area he had surveyed ...

 Lacey Township basically has three main sections. 1. Forked River 2.Lanoka Harbor 3. Bamber Lakes. Let me explain the differences of the three.   Bamber is the third lake area and most of the land is on the "other" side of the Garden State Parkway. Lanoka Harbor has most of our waterfront proper...

    Well it's that time again, kids go back to school and Buyers are scheduling day appointments without kids. Don't get me wrong, I love kids, but my car stays cleaner a lot longer when it's just adults being driven around. I think we get more serious attention for Open houses at this time too. ...

The Annual Lacey Boat Show is next weekend. You do not want to miss this event. I have a hard time remembering a more lovely sight than seeing the light shows in the Marina. If you haven't been there,try to make it to this one. If you happen to see me and my wife please come over and introduce yo...