Recent content by lyndonchiu_IHB

I am alittle bit confused about the $8000 Tax Credit when it comes to joint tenancy or tennancy in common situation. If one tenant makes over $75K, and the other tenant makes under $75K, but combined to make over $150K. Can the tenant making under $75K qualify for the full $8000 tax credit?

Thanks to all for the valuable information. Unfortunately, the seller has two loans both to Wamu or JPM Chase now, one of the slowest banks. Even with verbal approval, I think it will still be quite a wait. The only good thing seller is paying the shortsale specialist at his own expense, but...

What exactly does a short sale specialist do? It seems like these people are paid ~1% of purchase price in commision if bank approves the short sale. I have recently encountered a short sale, and the listing agent claims that they have hired a short sale specialist, have gotten a "verbal...