Search San Diego County Foreclosures & Short Sales The falling home values have made some homeowners accidental landlords. Harvard’s Joint Center for housing studies reports that the number of homeowners renting out their homes has soared to all time highs. Many are hoping the market will return in the next 24 months so that they… Read More
Short Sales Soar 2nd Quarter 2011
September 2, 2011 By Leave a Comment
The second quarter of 2011 U.S. Foreclosure Sales Report™ was released from Realty Trac. The sales of homes that were in some stage of foreclosure or bank owned accounted for 31 percent of all U.S. residential sales. Nationally is down from 36% in the first quarter of the year, but up 24% from the 2nd… Read More
Federal Mortgage Forgiveness Debt Relief Act and Debt Cancellation In San Diego
February 23, 2011 By Leave a Comment
This is applicable to foreclosures and short sales Under the Mortgage Forgiveness Debt Relief Act of 2007, property owners do not have to report forgiven mortgage amounts as income because the amount of the loan the lender cancels isn’t subject to income tax for discharges of qualified principal residence indebtedness incurred on or after January… Read More
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