The share of equity-rich properties rose to a new high—26 percent of homeowners with a mortgage in the third quarter, according to ATTOM Data Solutions’ Q3 2017 U.S. Home Equity & Underwater Report. In the third quarter, there were more than 14 million U.S....
Your home is your castle, and it is also a source of tax deductions. Yet, every year, Americans let these potential tax deductions pass by, not realizing how to take advantage of them. IRS Publication 530, titled "Tax Information for Homeowners", can fill you in on...
The district attorney went back a few years here. Hat tip to daytrip! https://www.noozhawk.com/article/santa_maria_men_charged_real_estate_fraud_case Two Santa Maria men have been charged with allegedly committing real estate fraud involving losses topping $500,000,...
Will short-sale agents disclose the tax? Trivia: Jerry Brown's first term as governor followed Reagan's last: Legislation that would have protected homeowners from being taxed on "phantom income" after losing their homes has been vetoed by Gov. Edmund Gerald Brown Jr....
With the difficulty the state politicians had in reaching an agreement - and it's not done yet, Moonbeam still has to sign it - this will probably be the last chance for over-encumbered homeowners to short-sell and avoid taxation on their debt relief. With less than...
California used to lead the nation in exempting mortgage-debt relief from taxation. But the latest extension of that law was defeated, leaving short-sellers and those being foreclosed in a prickly position - do they hang in there now? The reason the bill died is...
The new guy named Jeremy wandered into the discussion about short-sale fraud the other day, and found that long-time readers here don't take kindly to scams - and scammers. But we've seen how short-sale fraud has run unabated, and that it has practically become a...
They nailed these guys for fraud....but only 18 months in jail? This is more than your standard short-sale fraud, and I'm surprised this doesn't happen more often. They just sent in a forged bank reconveyance showing that the mortgage had been paid (when it wasn't),...
We haven't heard anything about short sale fraud in a while - here's the latest:
Because California has been exempted by the IRS from their debt-tax on short sales, we should still see more of them in the coming months and years. They tend to be shady - here's how a case in Nevada turned out:...
