Leading the Way…® in Real Estate Law NO MORE STATE TAX ON FORGIVEN DEBT “Qualified principal residence” indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence. It includes both first and second trust deeds. It also includes a refinance loan to the extent the funds were used to payoff […]
Author: Diego Loya
Diego Loya is a Realtor - Broker at Home Living Real Estate Brokerage, a Orange County full services real estate company. Over the past 12 years, Diego has helped homeowners sell and buy their homes. He's loves educating and empowering real estate consumers. You can find him on Google, Facebook and Twitter.
As the days, months and years go by, the return of the housing market gets farther and farther away. It seems as we continue to peel away the issues at hand we start to see what has been truly done and the news although sometimes grim, becomes more and more accurate. Peak House Prices Will […]
How to Get the Extended Home Buyer Tax Credit You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here’s what you have to do to get your benefit: 1. Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract […]
HOW LONG WILL NEGATIVE EQUITY LAST? * First American CoreLogic estimates that the typical U.S. homeowner who is in a negative equity position will not experience positive equity until late 2015 to early 2016. * In some depressed markets, the typical borrower in negative equity may not experience positive equity until 2020 or later. […]
Short-Sale Incentives Start April 5th Potential buyers of short-sale homes might consider waiting until April 5th before making a formal offer. That’s the date the federal government will begin offering lenders financial incentives to hasten the process. Under the new rules, banks will seek a BPO before the property is listed for sale and let […]
New Foreclosure Prevention Plan Announced President Obama is announcing an expansion of foreclosure-prevent tactics, including a plan to reduce principal balances and special aid for unemployed borrowers. The bulk of the responsibility for carrying out the new program will be assigned to the Federal Housing Administration, which will insure lenders against part of the losses. […]