California AB 1393 Now Law
So what? This is fantastic news for struggling homeowners that are now free and clear of getting slapped with additional taxes for completing a short sale…yes…that “shortage” of what you owed and what was actually paid…is taxable income!
AB 1393 Provides Mortgage Debt Forgiveness for California
Passing California Assembly June 30, AB 1393 provides protections to California homeowners for debt incurred by a short sale. This bill mirrors the Mortgage Forgiveness Debt Relief Act of 2007 enacted by the Treasury for IRS ruling
HAMP Extended Through 2016
One of the best tools the government has given homeowners in trouble is this HAMP program…especially those Americans that needed to complete a short sale…HAMP’s HAFA program protects the homeowner in the short sale eliminating the recourse from mortgage companies.
This Is What’s Wrong With America
I am frustrated that we are the scape goats for backing federal mandated “gifts” to states to cover Congress’s struggles to meet “promised” money to fix “transit” problems.
Be careful what you wish for…cause it all rolls back to you and your pocket book.
This Could Be the End of Banks as We Know It…We Called This
Just weeks after a New York Judge called the foreclosure actions of MERS "illegal"...it's headlines today that the mortgage industry including banks and loan servicers of mortgages are gonna be slammed with lawsuits from every attorney willing to represent a U.S....
NAR Release: Homeowners in Default…Stay in Home and Average of 19 Months without Payments…Still More Short Sales Coming
What is a short sale? This release from NAR just today... Banks and mortgage servicers are taking more time to foreclose on defaulting home owners--a process that can take up to 2 years now, USA Today reports. A backlog in foreclosures has occurred within a number of...
Case-Shiller Home Prices Drop Across US another 3.9%…More Short Sales
Data through December 2010, released this morning byStandard & Poor’s show that the S&P/Case-Shiller national home price index declined by 3.9 percent quarter-over-quarter during the last three months of 2010. The closely watched gauge is down 4.1 percent...
Celebrating Presidents Day…Current and Former Presidents Homes…Any Short Sales?
Today being Presidents Day, we felt it appropriate to share Current and Former Presidents homes...Enjoy and God Bless America! Barack Obama’s Chicago House Real estate has also been a thorn in democratic presidential nominee Barack Obama’s side, but for different...
Frankie Muniz "Malcolm in the Middle" Star Selling Hollywood Hills Home
After reaching stardom in the comedic series, “Malcolm in the Middle (2000-2006),” child actor,Frankie Muniz, decided to take a break from acting and give race-car driving a try. Now it looks like Mr. Muniz is ready to take a break from Los Angeles real estate....
New York Judge Rules "MERS" is "Illegal" in it's Practices…More Short Sales
We've been waiting for this ruling since we learned about the practices of MERS and it's legality. Mortgage Electronic Registration System (MERS) was developed by the Mortgage Industry to act as an electronic "pipeline" that transfers "paper work" from one financial...
Home Prices Drop 12% in 2010…Twice the Amount that NAR Reports…More Short Sales
A report issued today by Corelogic solidifies our preachings...home prices dropped more than twice what National Association of Realtors stated in this report released earlier this week. I respect that fact that NAR is providing much needed support in Washington DC,...
2011 Grammy Nominees Homes
The season of award shows is upon us and snuggled in between the Golden Globes and Academy Awards is the biggest award ceremony for the music industry – the Grammy Awards. This Sunday (Feb. 13), the 53rd Grammy Awards will be held at the Staples Center in Los Angeles....
Judy Garlands Former Los Angeles Home For Sale $5.5 Million
Somewhere over the rainbow, iconic actress and singer, Judy Garland, once spent her time away from the Hollywood limelight, in this cozy 2.5-acre estate. Built in 1938, the same year she was cast in “The Wizard of Oz,” renowned California architect, Wallace Neff, was...
California Investors, Need to Short Sale? New Law CCP 580E Is For You
CALIFORNIA CODE OF CIVIL PROCEDURE This law Took affect January 01, 2011...If you are an investor in need of a short sale, however you're concerned about potential recourse.this law was written for you. 580e. (a) No judgment shall be rendered for any deficiency under...