SHORT SALE AND FORECLOSURE BLOG

This is not news, but it IS critical for any Seller thinking about listing their home as a Short Sale in California in 2012. Remember the MOST critical thing..the Debt Forgiveness Act expires on 12/31/2012. Will it be extended? Most likely. However..do you want to take that chance? Read on for a recap of our [...]

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Brian Beutler writes that President Obama will likely have to make more recess appointments if he wants to staff key positions, including the newly-created vacancy at the Office of Management and Budget, as Jack Lew has become White House Chief of Staff. The assumption here is that Republicans will react to recess appointments at the CFPB and [...]

Tags: 360 REALTY, BARACK OBAMA, california, credit, DEMOCRATS, ED DEMARCO, FANNIE MAE, FHFA, foreclosure, FREDDIE MAC, HARP, HOUSING, los angeles real estate, RECESS APPOINTMENTS, REPURCHASES

  Thursday State lawmakers passed SB 401 which will exempt borrowers who lost their homes to foreclosure or short sales in 2009 from paying state taxes. State officials say as much as 100,000 people statewide will be spared from paying tax they otherwise would owe. The bill extends the state ban from 2009 through the [...]

Tags: 360 REALTY, credit, los angeles short sales, short sale vs forelosure, Tax Aspects Of A Short Sale

Heavy tax burden looms for those attempting short sale   DEAR BENNY: We live in California and own a second home within five miles of our primary residence. This second home has been used as a rental, initially to persons we were not connected with in any way. For the past 10 years, two different [...]

Tags: 360 REALTY, credit, foreclosure, los angeles real estate, short sale experts, short sale questions, upside down home

  Senate Bill 458 Signed into Law California homeowners who are considering a short sale and wondering about the consequences of this decision can rest easier effective immediately. Governor Jerry Brown just signed Senate Bill 458 into law. Senate Bill 458 expands upon previous short sale anti-deficiency laws.  The previous law (Senate Bill 931) allowed homeowners to [...]

Tags: 360 REALTY, California Short Sale, los angeles real estate, SB 458, SB 931, Senate Bill 458, Senate Bill 931, Tax Aspects Of A Short Sale

  I get lots of questions on short sale either from the sellers or someone who wants to know more about short sale. Here is my top 6 seller short sale questions I get which I think is useful to mention here so that all my readers get to know the answers to these common [...]

Tags: 360 REALTY, credit, foreclosure, foreclosures, Short Sale Q&A, Short Sales

  Many people say that 2012 will be the year of the short sale. There are lots of reasons that short sale sellers might be getting off the fence and selling their homes as short sales in the coming year. First off, the Mortgage Forgiveness Debt Relief Act of 2007 is set to come to [...]

Tags: 2012 Short Sale, 360 REALTY, foreclosure, los angeles real estate, Short Sale Q&A, short sales los angeles

For Sale: 7BR/6BA Multi-FSanta Monica in Santa Monica, CA, $1,295,000 1044 Grant St.   Santa Monica, CA 90405 Just Listed $1,295,000 – SHORT SALE! Triplex 3,754 Sq. Ft – Recently Updated Great Investment or Owner-Occupied Opportunity! Private, Beautifully updated, modern retreat in the Sunset Park area of Santa Monica. This Custom designed, 2 story triplex [...]

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Foreclosures fell month-over-month but are still up nearly 20% compared with a year ago. Plus, Las Vegas wasn’t the worst-hit city in November. By Les Christie, CNNMoney.com Last Updated: December 10, 2009: 7:18 AM ET NEW YORK (CNNMoney.com) — Foreclosure filings fell by 8% in November, making it the fourth consecutive month of improvement in [...]

Until this year, there were definite tax consequences from escaping foreclosure through a short sale. Avoiding foreclosure has always been the best thing to do since it prevents a black mark on your credit report that might keep you from being approved for future loans. Most financial experts will tell you that even today, keeping a foreclosure [...]

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