Homeowners with World Savings, Golden West or World FSB are eligible for Wachovia FAST TRACK Mortgage Forgiveness Debt Relief Program

by | Apr 17, 2010 | Finance, Real Estate news, Riverside foreclosure news, Riverside Real Estate, San Diego Foreclosure news, San Diego Real Estate

County Properties announcing our new website WachoviaFastShortSale.com dedicated to San Diego & Riverside Homeowners with Loans from Wachovia, World Savings, Golden West or World FSB are eligible for Mortgage Forgiveness Debt Relief Program called Wachovia FAST...

County Properties will be on TV Wednesday, April 21st “San Diego Living.”

by | Apr 17, 2010 | County Properties in the media, Real Estate news, Riverside foreclosure news, Riverside Real Estate, Riverside Short Sales, San Diego Foreclosure news, San Diego Investment Properties, San Diego Real Estate, San Diego Short Sales

County Properties is going air. Please enjoy our viewing on TV Wednesday, April 21st “San Diego Living.” Channel 6 CW TV live some time between 9AM and 10AM. Ou discussion will cover the new revised government guideline related to loan modifications and...

NO MORE CA STATE TAX ON FORGIVEN DEBT

by | Apr 17, 2010 | Finance, Real Estate news, Riverside foreclosure news, Riverside Real Estate, Riverside Short Sales, San Diego Foreclosure news, San Diego Real Estate, San Diego Short Sales

“Qualified principal residence” indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence. It includes both first and second trust deeds. It also includes a refinance loan to the extent the funds...

Is it realistic to get a principal reduction on a mortgage modification?

by | Apr 17, 2010 | Finance, Real Estate news, Riverside foreclosure news, Riverside Real Estate, Riverside Short Sales, San Diego Foreclosure news, San Diego Real Estate, San Diego Short Sales

When Bank of America announced last week that it would begin cutting loan balances for distressed mortgage borrowers, it marked a sea change in the way lenders deal with seriously delinquent loans. Until now, big lenders and servicers, such as BofA , have only given...

IRS tells homeowners how to get tax relief if a lender forgives part of their debt

by | Mar 27, 2010 | Finance, Real Estate news, Riverside foreclosure news, Riverside Real Estate, Riverside Short Sales, San Diego Foreclosure news, San Diego Real Estate, San Diego Short Sales

Generally, the Internal Revenue Service (IRS) treats debt forgiveness by a creditor as taxable income.  However, under federal legislation that took effect in 2007, certain home mortgage debt cancellations–such as loan modifications, short sales, or...