California won’t tax forgiven mortgage debt SB 401 (Wolk) into law providing distressed homeowners with California tax exemption on debt forgiven in a short sale, foreclosure, or loan modification. Effective immediately, this bill generally aligns California's tax treatment of mortgage debt relief income with federal law. For debt forgiven on a … [Read more...]
Is A Strategic Walk Away A Good Idea? Redwood City, CA: I have seen owners of homes just walk away from the home because they owe more than what the house is worth. Is this a good idea? I mean on any level is it a good idea? Is A Strategic Walk Away A Good Idea? A bankruptcy lawyer the other day told me that the banks are so cumbersome and … [Read more...]
Here's How To Get Out Of Debt - Many people I see out in the market place today treat their personal household budgets like it were the federal budget. This is an easy model to follow because after all doesn't Uncle Sam have your best interests at heart? Well they say they do, however, Uncle Sam can do something that you can’t do. If … [Read more...]
Medical Expense Causes Bankruptcies Medical Expense Causes Bankruptcies: 62% of bankruptcies had medical expenses as their main expenditure item says Harvard Law and Medical Schools along with Ohio University. The report goes on to say 75% of the bankruptcies filers had health insurance but it was not enough to cover their needs and they … [Read more...]
Fix late payments ~ re-aging your credit Fix late payments ~ re-aging your credit If you knew how to re-age your credit then you know how to fix the payments of yours that have been late and those charges you have spent over your credit limit. If not keep reading as I will tell you how re-aging your credit may help you. Here's a little … [Read more...]
IRS Says...You'll Owe Taxes If Selling By Short Sale!!! This is some important news for home sellers thinking about doing a short sale and why you'll want to do it before the end of the year. IRS Says...You'll Owe Taxes If Selling By Short Sale!!! By clicking the link below you will be able to watch a video on what is in store for homeowners … [Read more...]
California Homeowner Bill of Rights Becomes Law: www.leginfo.ca.gov. CA governor Jerry Brown signed Assembly Bill 278 and Senate Bill 900 California Homeowner Bill of Rights Becomes Law: Applicability of the Law: This law will generally come into effect on January 1, 2013. It only pertains to first trust deeds secured by owner-occupied … [Read more...]
Facing Foreclosure? Beware ~ Ostrich Syndrome Prepared By Cliff Keith Disclaimer: This information does not join legal advice. Please consult a real estate attorney and/or a CPA to decide it this information applies to your particular circumstances. Facing A Foreclosure? Beware ~ Ostrich Syndrome Are you facing a foreclosure? … [Read more...]
Redwood City, CA: When homeowners owe more on their home than what it is worth, along with the current mortgage crisis sweeping across America many homeowners are unable to pay off their mortgage(s). There are many reasons why homeowners have been faced with a hardship that forces them to take the high road by using a Short Sale. The hardships … [Read more...]
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Today Sotheby's International Realty
1250 San Carlos Avenue, Suite 101
San Carlos, CA 94070
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Serving Silicon Valley since 1976.
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