This makes it a lot easier for Americans to deal with the problems of foreclosure, without putting an additional tax burden on themselves.

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If you did, then like me, hopefully you found it intriguing. The most interesting aspect I felt was the husband and wife Matt & Stephanie Valdez who said that they had been advised to let their home “just go into foreclosure”. Their interview starts about at the 8:40 mark of the segment.

While I certainly couldn’t argue with their strategy, the way they were going about it was all wrong.

You see, the wife asked what was the point of throwing money into a mortgage payment when the house kept declining in value. I agree with her! There is no point in trying to save a home that is worth $100,000 less than what is owed on it. That’s pure madness. Even if the home appreciated $90,000 in value over the next few years, she would still owe more than what the home is worth!

So what should Matt & Stephanie have done? They should have tried to find an investor who would help them with a short sale.

Why a short sale?

Well, it’s better than the having a foreclosure on your credit report. It allows you to still sell the property, and you can still “walk away” from it. However, if approved, you won’t have a foreclosure on your credit report. In other words, much more effective than just “walking away” from your foreclosure.

If you need help with a short sale, www.SaveMeFromForeclosure.com is a great place to start. Just make sure that you indicate that you want to SELL your home rather than KEEP it, when you fill out our online form.

And if you’ve already filled out our form, and you’re rethinking your decision to keep the home, that’s okay. Just go back to our site, and fill out the online questionnaire, but this time, indicate that you prefer to sell your home instead.

Here’s the entire 60 minutes segment:

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As with other locales in the U.S. Kitsap County is also experiencing declining home values and over-leveraged properties, but the foreclosure situation in Kitsap County is moderate compared to other counties. We average approximately 20-35 per month..

The root cause for the foreclosure problem in Kitsap County are falling property values as well as the problems being created by the ARM mortgages many people got into while the housing market was fairly hot. Homeowners took out a lot of second mortgages, then housing prices fell and they were overleveraged. Now A.R.M.’s are adjusting and they cant make the payments..

In Kitsap County the most common residences in foreclosure in this county are working class homes. A few are expensive but most range from 150,000-300,000. They are scattered throughout the county.

Foreclosure filings in Kitsap County remain stable as compared to last year, but local experts expect the numbers to rise during 2008 as more adjustable rate mortgages reach their reset periods.

The percentage of increase in foreclosures is still running in the single-digits as Kitsap County is seeing a 5.9% increase over last years numbers.

The federal and local government has made some attempt to help matters. Currently HUD put a 90 day moratorium on homes in foreclosure in the flood affected counties.

There is help available as the Kitsap County stop foreclosure expert explained. She can offer a homeowner to ability to work with companies that can help them try to save their home, and if that’s not possible, she can provide other options for them to consider including working with specialized realtors, or purchasing their home. She can meet with them and discuss their options, at no charge.

Stopping home foreclosure in Kitsap County, Washington calls for immediate action the same as it does in all other parts of the country. As we have heard it’s going to get worse before it gets better. If you have found this article while looking for help to stop foreclosure then the very best advice we can give is to act now.

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Prior to this act, banks and lenders, if negotiating a short sale, were allowed to tax homeowners on the amount of debt negotiated and send them a form 1099.  Ultimately, what this meant to the homeowner is that the forgiven debt was treated as income.  Here’s an example:

Fred and Mary Smith had a home with a loan balance of $300,000.  Let’s supposed that someone purchased it, after negotiating a successful short sale, for for $225,000.  The lender, in the past, could have sent a form 1099 to the Smiths, and the $75,000 of debt that “magically” disappeared would have been treated as taxable income.

With this new law in effect, that $75,000 will no longer be treated as income.  At least until the end of 2009.

So what does this mean for you, the homeowner?

Well, if I were facing foreclosure, and struggling under a lot of debt, I would seriously consider getting out from underneath it.

That means that I would try and sell my property, using a short sale, because there would be NO taxable impact on me if I sold it via a short sale.

Remember that while many realtors might want to help you list your property as a short sale, finding an investor who is actually going to BUY your home (and not just list it), is your best bet.

If you’re in need of finding an investor to buy your home via a short sale, please visit www.SaveMeFromForeclosure.com today.

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Like most places in the United States, the foreclosure situation in Prince

The root cause for the foreclosure problem in Prince

In Prince

As predicted earlier this year foreclosure filings in Prince

The numbers started increasing in 2006 and have been on the rise since then. Local experts believe that this is just the beginning of a upward tend that shows little signs of reversing in the immediate future

The percentage of increase in foreclosures is still running in the double-digits as Prince

There is help available as Prince Georges stop foreclosure expert Mike Haynes explained. His company for example offer homeowners help to stop foreclosure in the way of loan modification, refinance, bankruptcy attorney referrals, short sales, straight purchase, and listing on MLS. 

Stopping home foreclosure in Prince Georges County, Maryland calls for immediate action the same as it does in all other parts of the country. The county seems to be pretty flat at this point in regards to real estate. Some properties are overvalued and upside down, while some are lived in for 2-3 years with little to no equity. If you have found this article while looking for help to stop foreclosure then the very best advice we can give is to act now

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As predicted earlier this year foreclosure filings in Washoe are up over a year ago, to a weekly average of 75 NOD’s per week.

The percentage of increase in foreclosures is still running in the double-digits as Washoe is seeing a 100% increase over last years numbers.

The state and local government has helped, of sorts. Nevada has a new web site to educate homeowners about several options available.

There is help available as Washoe stop foreclosure expert explained. They offer homeowners help to stop foreclosure. If they want to keep their home there is the option to do forbearance with their banks or refinance. The challenge with these options is most homeowners don’t qualify for either so then they are offered an opportunity to do a short sale or save their remaining credit.

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The foreclosure situation in Monterey is being driven by the 100% financing that was available, Adjustable ARM’s, and fraudulent lending practices. It is a severe impact in most of the Valley cities.  The San Luis Obispo foreclosure situation is of a more moderate level with areas of sever impact. Both counties are experiencing falling housing prices that seems to be leveling out..

The root cause for the foreclosure problem in Monterey is homeowners taking advantage of the 100% financing and Adjustable Arms as well as fraudulent lending practices.

In both Monterey and San Luis Obispo the typical foreclosure filings mirror what is being reported across the nation with the working class sector being the most affected. The temptation of no money down loans and loose lending practices was simply too good to pass up. Now with these loans resetting they can’t make the larger payments and as a consequences many homeowners are now faced with stopping foreclosure in both Monterey and

As predicted earlier this year foreclosure filings in Monterey and San Luis Obispo are going up over the next 12-18 months before any kind of turnaround is expected. The percentage of increase in foreclosures is still running in the double-digits as Monterey and San Luis Obispo County experienced a 100%  increase over last years foreclosure numbers.

There is help available as the Monterey and San Luis Obispo stop foreclosure expert explained. She offer homeowners help to stop foreclosure by educating them on their short sale options and credit/financial options and counseling.

Both Monterey and San Luis Obispo is seeing a lot of overleveraged homeowners in the county with either zero, or worse yet, no equity in their property. Many homeowners trying to sell their homes to stop foreclosure list their home far too high and as a consequence some are ending up walking away and letting their home go to auction.

Stopping home foreclosure in Monterey and San Luis Obispo County, California calls for immediate action the same as it does in all other parts of the country. The real estate markets in Monterey and San Luis Obispo still seems to be in a slight decline with evidence leaning towards more leveled off flat markets. The area is experiencing peaks and valleys each month. If you have found this article while looking for help to stop foreclosure then the very best advice we can give is to act now.

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Like most places in the United States, Boulder

The root cause for the foreclosure problem in Boulder County is falling property values as well as over leveraged ARM loans, a problem common in other parts of the state and country as well.