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Tax Consequences of a Short Sale In California

3-17-14

There’s good news for Californians who are needing to do a short sale.  According to the California Association of Realtors a letter from one of the FTB board members stating  “California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a […]

By |February 1st, 2019|Uncategorized|Comments Off on Tax Consequences of a Short Sale In California|

Home Affordable Refinance Program – HARP

3-5-14  I recently read that 25% of all homes with mortgages in Fresno County still owe more than there home is worth.  There’s

two parts to this equation:

1) The debt exceeds the value of the home

and

2) The homeowner is paying interest on debt that’s beyond the homes worth.  That’s not efficient.

Wouldn’t it be wiser to reduce the payment burden by […]

By |February 1st, 2019|Uncategorized|Comments Off on Home Affordable Refinance Program – HARP|

A “short sale” is an option…

WHAT IF I OWE MORE ON MY HOUSE THAN IT’S WORTH?  WHAT CAN I DO?
A “short sale” is an option.

This is where the owner and the lender cooperate to sell the home for less than the balance owed on the property.

Typically the owner contracts with a real estate agent to sell the property.  The agent contacts the lender to […]

By |January 31st, 2019|short sale|Comments Off on A “short sale” is an option…|

Drought to flatten Fresno job growth

One of the areas of business that affects real estate values is jobs.  If you have more jobs it places, greater demands on housing.  Which then puts upward pressure on real estate values.  Fresno’s job growth is expected to be flat because of the drought.  This will likely reflect in flat or lower values for housing.   For those of […]

By |January 31st, 2019|Uncategorized|Comments Off on Drought to flatten Fresno job growth|