Jacksonville, Florida-based JWB Real Estate Capital has published its online investment property short sale guide to provide information for property owners on foreclosure prevention. While foreclosure numbers have declined since 2007, many homeowners still face the threat of foreclosure when their mortgage payment becomes overdue.
While legal processes vary among states, property owners who are behind on their mortgage payment can use the short sale guide as a resource to explore their options and prevent a foreclosure on their home. Information provided by JWB can help rental home owners find alternative solutions to their housing problems.
"The owner of a property could qualify to complete a short sale on an investment home if all guidelines are followed," a JWB Real Estate Capital source said.
Rental properties face tax implications when they are foreclosed, resulting in a property owner facing other consequences when the deed gets to the lender. JWB provides homeowners with both information on IRS forms and IRA financing to avoid when using recourse lend types.
"We opened a program earlier this year that helps investors use stored funds in an IRA or 401K to purchase homes to avoid the issues with foreclosures or short sales that can be common," the source said.
JWB manages more than 300 clients around the world. Most recently, JWB has opened a private construction division for investment clients to build new homes and create a new monthly revenue stream.
Investors can find the short sale guide created by JWB here.