The Essential Guide to Short Sales and Avoiding Foreclosure in Pennsylvania

This is the definitive resource for anyone in Pennsylvania involved in a short sale or a foreclosure, whether they are a homeowner, real estate agent, attorney, homebuyer, or investor. Written in simple, easy to follow language, this book includes: 1.) The timeline for foreclosure in Pennsylvania, so you know what happens next, 2.) The 15 benefits of a short sale, 3.) The 8 alternatives to foreclosure, 4.) A comprehensive list of federal and state programs for mortgage borrowers who are financially struggling, 5.) The tax and credit consequences to a short sale, plus how to avoid paying tax on the forgiven debt, 6.) 20 ways a short sale gets delayed, 7.) What the bank can and can't take from you, 8.) How landlords and tenants can protect themselves if the mortgage is delinquent, 9.) What to do if you're on the deed but not the mortgage, 10.) How to know if the bank is forgiving your debt, 11.) Ways to postpone the Sheriff's Sale, 12.) How a divorce affects a short sale or foreclosure, 13.) 5 things buyers need to know when purchasing a short sale,14.) Realtor short sale horror stories, 15.) Description of the laws around short sales and foreclosures, 16.) Step by step explanation of how to master the most critical moment in the short sale process, 17.) How to spot and avoid costly foreclosure rescue scams, and 18.) A comprehensive glossary of insider terms to give you the edge in negotiation. This book includes an appendix with sample hardship letters, communications that convinced the bank to approve the short sale, and a motion to a judge that successfully resulted in a postponed Sheriff's Sale. Author Tai A. DeSa successfully closed hundreds of short sales in multiple states. A former U. S. Navy Officer, a graduate of the Wharton School of the University of Pennsylvania, and a licensed real estate broker in Pennsylvania and Tennessee, DeSa reveals insider tips on how to prevent foreclosure and convince the bank to forgive the remaining debt in a short sale.