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Addition to the New CA Short Sale Laws

By: Mary Ellen Wilson Real Estate Views: 3029 | Comments: 0 | Votes: 0

Mary Ellen Wilson

Addition to the New CA Short Sale Laws Video There is a new California law that will protect homeowners while pursuing short sales by prohibiting first and secondary lien holders from going after sellers for money owed after the short sales close. This new law, which became effective immediately, now prohibits secondary lien holders from pursuing deficiencies after a short sale closes. More

Mortgage Debt Relief Act Expires Dec. 2012

By: Mary Ellen Wilson Real Estate Views: 3033 | Comments: 0 | Votes: 0

Mary Ellen Wilson

San Diego, CA – EHS says “Be Concerned.” Here’s how the 2007 Act works. If your lender forgives any of your loans, it is reported to the IRS as ordinary income. That income could add over $100,000 to your taxable income. The 2007 bill forgives that tax.   Congress created a bi-partisan 12-member committee to reduce the $1.5 trillion dollar tax deficit. More