Q: Do I get a 1099 for any Cash for Keys incentives? Answer: You will receive a 1099 tax form for any Cash for Keys incentives issued to you. Example: Here’s Bank of America’s disclosure on the tax implications of “Cash for Keys” incentives: “The amount of any deficiency and relocation assistance will be […]
May 16, 2012
Bank of America Cash for Keys Program Nevada
Bank of America Cash for Keys Program, Nevada LIMITED TIME OFFER On May 15, 2012, Bank of America announced a new short sale Relocation Assistance Program: Homeowners are eligible to receive $2,500 to $30,000 in relocation assistance. For a limited time, Bank of America is offering enhanced relocation assistance payments in which qualified homeowners […]
April 30, 2012
Can you get cash for keys on a short sale in Nevada?
Q: Can you get cash for keys on a short sale in Nevada? A: Yes! In fact, here are a few actual letters. The Robo-signing Settlement may have helped more homeowners obtain this incentive. Here is the language on the last “Cash for Keys” letter we received here in Nevada: “An opportunity for additional relocation […]
April 25, 2012
Short Sales in 2012
It’s time to take another look at short sales! As recently as a few months ago, if you would have told me, a real estate agent who specialized in Las Vegas short sales, that I’d be raving about a lender’s stellar service and rapid approval times—not to mention significant cash back incentives for financially strapped […]
March 13, 2012
Robo Signing Settlement
If you know someone who’s property was foreclosed between Jan. 1, 2008 and Dec. 31, 2011, they may have been subjected to fraudulent practices. Folks are sending in letters (like the one below) to their state Attorney General with their current contact information in the event there is a cash settlement due. If you had […]
March 9, 2012
Historic Robo-Signing Settlement is Not Without Controversy
On February 9thth, the United States Justice Department released the details of a $25 billion dollar settlement they reached with 5 major banks. The settlement occurred because the banks were accused of widespread use of “Robo-signing.” Robo-signing is a practice employed by banks to automate the processing and approval of foreclosure proceedings against homeowners. In […]
