Housing Angels to host free informational seminars May 4

Phoenix-based Housing Angels has announced it will host two free informational seminars about possible solutions for homeowners needing mortgage relief. Seminars are at 10 a.m. and 1 p.m. May 4 at 8345 W. Sunset Road.

Housing Angels recently opened an office in Las Vegas. Dave Dziedzic, founder and CEO, started the company three years ago after losing his own home in the housing crisis.

Housing Angels works by pairing up angel investors from the United States and Canada with struggling homeowners.

The investors purchase an underwater home in a short sale, allowing the original homeowners to remain in the house as tenants with the option to purchase the home back in two to four years.

As renters, they benefit from reduced monthly payments and the stability of staying in their home.

As owners, the investors benefit from stable, dedicated tenants and a built-in profit.

Dziedzic said Housing Angels has conducted more than 1,000 short sales and helped 20 homeowners purchase their homes. He said there is no charge to the homeowner.

Congress recently extended the Mortgage Forgiveness Debt Relief Act through Dec. 31.

Through the federal act homeowners will not have to pay income tax on mortgage debt forgiven (such as in a short sale or foreclosure) on amounts as much as $2 million.

For more information, call 702-570-1211 or visit www.housingangels.com and click on seminars. Space is limited.