Honolulu Foreclosure Options Part 1

By Michael Zimmerman | Published: May 30, 2009

First, a disclaimer.  Foreclosure is a very complicated process with far-reaching results.  I cannot stress this enough:  consult your lenders, your attorney, your CPA and your real estate professional to ensure you fully understand all ramifications of the options discussed below. As the economy declined during the last year, homeowners faced many difficult choices.  Regrettably, some are staring … Continue reading Honolulu Foreclosure Options Part 1

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Mortgage Forgiveness Debt Relief Act

By Michael Zimmerman | Published: May 27, 2009

From the Internal Revenue Service’s point of view, if someone forgives a debt you owe them, the canceled amount may be taxable income. In December 2007, Congress passed the Mortgage Forgiveness Debt Relief Act.  Under regular circumstances, when a lender forgives all or part of a borrower’s debt, the forgiven amount is considered income and the borrower is taxed … Continue reading Mortgage Forgiveness Debt Relief Act

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Memorial Day Message from Honolulu

By Michael Zimmerman | Published: May 24, 2009

The purpose of the Memorial Day holiday is to commemorate the many U.S. military men and women who died serving our country.  Tomorrow, before you begin celebrating the holiday with friends and family, I hope you’ll take a moment to honor and remember the soldiers, sailors and airmen who paid the ultimate price for the freedom we … Continue reading Memorial Day Message from Honolulu

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May 2009 Harbor Court Condominium Market Report Honolulu

By Michael Zimmerman | Published: May 21, 2009

Summary Only one Harbor Court apartment has been sold in the last ten months, but one condo just accepted an offer and opened escrow.  In addition, there is a very attractively priced apartment available on the 33rd floor for under $700,000.  And for someone desiring a penthouse, one of only four in the building is still for sale (41st floor). … Continue reading May 2009 Harbor Court Condominium Market Report Honolulu

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Do You Qualify for a Honolulu Real Estate Short Sale?

By Michael Zimmerman | Published: May 18, 2009

First, a disclaimer.  I cannot stress this point enough: consult your attorney, your CPA and your real estate professional to ensure you fully understand all ramifications of a short sale. In just the last two weeks, I have received phone calls from three people who were considering a short sale.  Each has his/her own reasons … Continue reading Do You Qualify for a Honolulu Real Estate Short Sale?

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