Ken Lewis, CEO of Bank of America, the nation’s second-largest bank, announced on Friday that it will shut down its consumer real estate division and its wholesale lending unit, which offers residential mortgages through over 7,000 independent brokers, at the end of the year.  

The move signals a commitment …

Many San Diego homeowners considering a short sale or facing foreclosure got a bit of good news today with the U.S. House of Representatives passing H.R. 3648, The Mortgage Forgiveness Debt Relief Act of 2007. The bill addresses the forgiveness of acquisition debt, which is that debt used to …

Someone lit a fire under Rep. Charles "Charlie" Rangel, which is good news for the San Diego real estate market in general, and many homeowners trying to determine the lesser of two evils, foreclosure or a short sale and the tax liability which goes with it.

Earlier today, the …

The other day I wrote a post about a short sale as a viable solution. The subject has been bandied about as an alternate solution for a homeowner who may be faced with losing the home to foreclosure. It has become the agent listing tool de jour. …

Rep. Charles "Charlie" Rangel , Democrat from New York and Chairman of the House Ways and Means Committee, today introduced H.R. 3648 to amend the Internal Revenue Code of 1986 to exclude discharges of indebtedness on principal residences from gross income, and for other purposes.

Currently …

A frequently heard definition of a short sale goes something like this:

"A short sale occurs when the lender agrees to take less than the full amount required to pay off existing loans in full because the outstanding loan balance is greater than the proceeds realized from the …