April 2010
3 posts
Second Lien Holders Reluctant to Let Borrowers Off...
Last month Wells Fargo sued a San Diego woman after her home was foreclosed on last year. She had 2 loans and the second - $72K left on a HELOC - was wiped out in the foreclosure. Both loans were refinanced but she did not take out any cash. Nevertheless, Wells Fargo filed suit last month to collect the $72K owed on the second. Check out the Wall Street Journal article from last week that...
California Provides Tax Relief for Distressed...
Home buyers have been treated to lots of favorable news over the last couple of years, e.g., low home prices and interest rates, as well as federal - and now state - tax credits for purchasing a home.
Home owners and sellers have not enjoyed such good times. However, the state of California has just enacted a law that will forgive the income tax liability for a person who sells a home for less...
More Good News for Homebuyers - Up to $18,000 in...
The State of California is now offering a brand new $10,000 tax credit for homebuyers allowing homebuyers who purchase a home between May 1, 2010 and December 31, 2010 to take advantage of continuing tax benefits after the federal tax credit expires in June, 2010. For first time homebuyers who enter into a contract to buy a home before April 30, 2010, and close escrow before June 30, 2010, that...