HR 5830: The FHA Housing Stabilization & Homeownership Retention Act

On April 17, 2008, Rep. Barney Frank introduced in the House a bill that would enable the FHA to refinance home loans at 90% of current market value with the goal of keeping more home owners in their homes. I will track this bill through the House and Senate as ...

Short Sale and Phantom Tax Debt Relief Overview

 

Lots of questions have arisen from people since President Bush signed into law the Mortgage Forgiveness Debt Relief Act of 2007, whereby in certain circumstances, a homeowner does not have to pay federal income tax on debt forgiven on a loan secured by a qualified principal residence via a short ...

Bush Signs Mortgage Debt Forgiveness Act

 

With a stroke of the pen, President Bush signed into law H.R. 3648, The Mortgage Debt Relief Act of 2007, and dramatically changed the lives of homeowners across the country who are facing foreclosure, considering a short sale, negotiating a loan workout, or have done any of these since ...

Mortgage Debt Forgiveness Passed by Senate

 

UPDATE: President Bush signs HR 3648, The Mortgage Forgiveness Debt Relief Act of 2007.

It took them close to two and half months, but the U.S. Senate finally got around to passing H.R. 3648, The Mortgage Forgiveness Debt Relief Act of 2007. Initially sent to the Senate on ...

Short Sales, Taxes and the IRS

 

UPDATE: 12/20/2007 - President Bush signs The Mortgage Forgiveness Debt Relief Act of 2007

UPDATE: 12/14/2007 - Senate Passes Mortgage Forgiveness Debt Relief Bill

 

Given the current state of the San Diego real estate market, it is no surprise that the most frequently asked question we get revolves ...

San Diego Foreclosure Bargains - Fact or Fiction?

The most common "I want a killer deal" inquiry I get are from those looking for foreclosure property in San Diego - at 50 cents on the dollar. After all, it is a buyer market, sellers are desperate, and foreclosures almost out number real estate agents right?

Well... not quite. But ...