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This three part series will be presented commercial free and there will be many topics addressed
covering a wide spectrum of areas. From appraisals and mortgage options to loan modifications
and more, Business Update will explore it all.
Palm Beach Gardens, FL, December 13, 2010 --(PR.com)-- This June, DMG and Business Update take
their viewers on an educational journey inside the real estate industry as they uncover the facts behind the
often-misunderstood topics of foreclosures and short sales.
“Homeowners looking to avoid foreclosure and cushion the impact to their credit should pursue a short
sale where their lender agrees to a reduced (short) payoff based on current market value. This option is
only for owner occupied properties. FHA allows a borrower to obtain a new home loan as soon as three
years after a short sale. For second home and investment properties the options are deed-in-lieu or
foreclosure both of which are very damaging to credit - up to seven years to obtain a new home loan,”
said Laura Balas, a Realtor with RE/MAX Ocean Properties in Juno Beach, Florida. “It is important that
the homeowner weighing these options seek professional guidance from a Realtor, Attorney and tax
consultant; there maybe IRS penalties and deficiency judgments to contend with.”
Senior producer for the series, Ryan Dierdorff said, “There has been a lot of finger pointing surrounding
the housing debacle and regardless of where the blame lies, I think we can all agree that educating the
public on tax and legal issues as well as mortgages is a good step in avoiding costly mistakes.”
This three part series will be presented commercial free and there will be many topics addressed covering
a wide spectrum of areas. From appraisals and mortgage options to loan modifications and more,
Business Update will explore it all. Broadcast is internally scheduled for 2Q 2011 on CNBC.
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Contact Information:
DMG Productions
Ryan Dierdorff
(866) 496-4065
ryan@dmgproductions.org
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