4-4930 Kuhio Highway, Anahola, HI 96703, United States
Price:
$1,197,000
Type:
Single-family
Bed:
3
Bath:
2
Partial Bath:
1
Square Footage:
2,786
Age:
5 years
Lot Size:
2.1 acres
Kauai Real Estate Blog
Foreclosure News Updates from RealtyTrac
Kauai Real Estate Pre-Foreclosure Short Sales
Short sales can be very confusing. Whether buying or selling on Kauai, help is here:
What is a Pre-Foreclosure Short Sale?
A Short Saleis a special transaction that allows a homeowner to sell their home, even when the mortgage debt is higher than the value of the property.
Sellers - a Short Sale will help the homeowner:
Avoid Foreclosure
Avoid Bankruptcy
Protect Credit Score from "foreclosure" ding
Be free of financial & emotional burdens
Buyers benefit from a Short Sale by getting a property at distressed values, but with full cooperation of the Seller; Seller's Disclosure, maintenance of property, etc. It takes longer than buying an REO, but reduces the risk of buying "As-Is" due to the disclosure and cooperation of the Seller.
Buying a Short Sale property requires patience. Sometimes the banks are overworked, and slow to respond. It's important that you have a good agent working with you to provide complete market updates, analysis and insight as to the property's current value and market indicators for that area. I am part of a Nationwide Short Sales Specialist Certification program, and have the inside knowledge, connections and tools to ensure a successful transaction.
Valuable Links and Resources:
The Mortgage Forgiveness Debt Relief Act of 2007, signed by President Bush, protects American families from paying Higher Taxes when they refinance their home. It also gives homeowners a 3 year window to refinance their mortgage and pay no taxes on any debt forgiveness they receive. Prior to this Act, if the value of your house declines, and your bank or lender forgives a portion of your mortgage, the tax code treated the forgiven as income that can be taxed. "When your home is losing value and your family is under financial stress, the last thing you need is to be hit with higher taxes." President George W. Bush, September 1, 2007
When facing a possible Short Sale or Foreclosure, it's very important to consult a CPA or Attorney for advise about your particular situation. If you need a referral, please contact me.
Loan Modification Resources: If you are looking for help you with your loan, please DO NOT pay anyone upfront fees - there are a lot of scams out there right now preying on homeowners in distress. Here are some reputable non-profit organizations focused on helping homeowners work out a Loan Modification:
Neighborhood Assistance Corp. of America: 1.888.302.6222
