by countyproperties | 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...
by countyproperties | Mar 27, 2010 | Current Affairs, 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
On March 24, 2010, Bank of America announced enhancements to the National Homeownership Retention Program to modify the mortgages of qualified homeowners who are experiencing financial hardship. The National Homeownership Retention Program is already available to...
by countyproperties | Mar 12, 2010 | Finance, Real Estate news, San Diego Foreclosure news, San Diego Real Estate, San Diego Short Sales
The California Senate voted 21-15 today to approve legislation that would prevent homeowners who have had a foreclosure, loan modification or short sale from being required to pay state income taxes on the debt forgiven. The bill, SB32 (8X), by Sen. Lois Wolk...
by countyproperties | Mar 12, 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
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave. This latest program, which will allow owners to sell for less than they owe...
by countyproperties | Mar 5, 2010 | Finance, Real Estate news, Riverside Real Estate, Riverside Short Sales, San Diego Foreclosure news, San Diego Real Estate, San Diego Short Sales
Washington, DC — Federal Housing Finance Agency Acting Director Ed DeMarco today announced the extension of the Home Affordable Refinance Program, (HARP), a refinancing program administered by Fannie Mae and Freddie Mac, to June 30, 2011. The program is a key...
by countyproperties | Mar 5, 2010 | Finance, Real Estate news, Riverside foreclosure news, Riverside Real Estate, Riverside Short Sales, San Diego Real Estate, San Diego Short Sales
The U.S. Dept. of Housing and Urban Development, in partnership with the Loan Modification Scam Prevention Network, launched http://www.preventloanscams.org/, a new Web site to prevent loan modification scams. The Loan Modification Scam Prevention Network developed...
