It is very simple to get a release of liability on a first lien. This includes investment properties, vacation homes, and even recourse loans such as cash out refinances. However with the passing of a new anti-deficiency law SB 931 it is now guaranteed. For all short sale closing dates beyond January 1st 2011, any… Read More
Does SB 931 Stop Deficiency Judgments on Short Sales in San Diego California?
May 26, 2011 By Leave a Comment
Short Sale In San Diego Are There Tax Consequences? Is Debt Forgiven?
February 23, 2011 By Leave a Comment
In California our state tax law requires homeowners to report debt forgiven during a short sale because it is considered income. Adding this amount to your other sources of income then will increase your tax liability. Therefore you could be required to pay more in income taxes when a short sale occurred. California Gov. Arnold… Read More
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