Chicago, IL

By A.B. Dada

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Daniel Gershburg Esq., is a Bankruptcy & Real Estate attorney serving clients in Brooklyn, Queens, Manhattan, Staten Island, Long Island and Westchester. Gershburg is a NACA member, an organization I speak very highly of who defends consumers from junk debt buyers and other collector nightmares.

On his blog, Gershburg covers a topic that we’ve spoken about lately: short sales. Gershburg introduces a new thought in the mix:

Furthermore, the remaining balance of the mortgage would be forgiven by the lender and she would be able to live in the house, albeit with a new owner, until such time as she had the funds to repurchase the house. The description is insane.

Read the rest of this article titled Short sale to investor who rents to previous homedebtor? at the Housing Bubble site.

Related posts:

1. Mortgage Short Sale: Forgiveness of Debt and the 1099
2. What if no one can afford to live there?
3. Be A Man Q&A: Do short guys have problems dating?
4. Housing Prices always go up — not really
5. Does 28% gross income for a mortgage include property taxes and insurance?
6. SEC decides to stop short selling for certain bank stocks
7. Foreclosures, and more bad government ideas
8. Gold de-hedging and the short term effect on gold’s dollar value
9. Housing Bubble News, June 27, 2006
10. If you can’t afford your mortgage, get further into debt!