Las Vegas Short Sale approved by Chase with a $30,000 seller incentive

Felipe Crook from Realty One Group in Las Vegas Nevada recently received a Chase Short sale approval waiving over $600,000 in debt and a $30,000 seller incentive to complete the transaction. End Quote

Las Vegas, NV-AZ (1888PressRelease) March 28, 2012 - Felipe Crook, a Realtor with Realty One Group in Las Vegas Nevada just received an astounding approval letter on a Chase short sale transaction. After 3 months of negotiations with JP Morgan Chase, last week the negotiator assigned to the file issued an approval letter waiving over $600,000 in debt and offered the sellers a $30,000 incentive to complete the short sale.

"The Review Journal has reported that over 200,000 home owners are upside down in their homes. With such a large number of residents struggling to pay their mortgage, or strategically defaulting, homeowners are looking for all their options," said Felipe Crook. "My real estate partner Mark Minelli and I have assembled a strong team of professionals to help people avoid foreclosures and get the best information. Many home owners don't realize that there are programs to help people stay in their homes or even help with mortgage payments."

In order to educate Las Vegas Homeowners, Felipe Crook and Mark Minelli are presenting free short sale seminars with short sale attorney Eric Earley. Their next seminar will be March 31st, 2012 held at Realty One Group 6475 S. Rainbow Blvd Ste 102, Las Vegas NV 89118 from 11:30am-1pm. To register for the free event, please visit www.LVShortSaleAdvice.com or contact Felipe Crook directly at 1-866-589-1646.

This seminar will cover the pressing questions most homeowners have, including: Can I avoid foreclosure with a short sale? Do I qualify and what does it cost? What documents do I need to apply for a short sale? How does a short sale affect my credit? How soon can I buy another house? How can I protect my assets? What are the tax liabilities? Will the bank forgive the entire debt?

"In Nevada, your Lender can sue you for the remaining balance of your loan after a short sale or a foreclosure," says Earley. "Your best chance of avoiding a lawsuit is likely having a Las Vegas short sale attorney negotiate a settlement or "waiver" of the Lender's right to sue. The most successful negotiations are usually planned months in advance during an attorney/client consultation."
With the expiration of the 2007 Mortgage Debt Relief Act at the end of 2012, the tax consequences for many homeowners will be uncertain in 2013. "The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home's value or the taxpayer's financial condition." -IRS.gov

In the challenging real estate market of Las Vegas, it is crucial to work with a team of trusted professionals with experience in short sale transactions. Over 70% of all homeowners are upside down in their homes and have a lot of bad information from people less than qualified to give advice. Get clear answers and learn how to protect yourself.

Realty One Group
Felipe Crook and Mark Minelli
2831 St. Rose Pkwy Ste 100
Henderson, NV 89052
1-866-589-1646
www.LVShortSaleAdvice.com

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