Beverly Hills: Going first class

Beverly Hills Flats, 90210, is one of the most exclusive coveted … [Read on ... ]

beverly hills home and garden - prime real estate

Culver City: Studios, schools, fun!

"The Heart of Screenland" is so named because of the historical and … [Read on ... ]

Culver City children downtown playing in fountain

Westchester: Charming, affordable, ideal

Think about walking down a tree lined street filled with beautiful, … [Read on ... ]

westchester california property

Playa Del Rey: Clean air, cool condos

Sitting mostly at sea level, with its west side bordering the Pacific … [Read on ... ]

playa_del_rey_trees

Mar Vista: ‘Heart of the Westside’

Think Mid-Century Modern Architecture with breathtaking views of the … [Read on ... ]

Mar Vista California

Beverlywood: East Coast feel on the Westside

This city is special. Composed of mixed architecture of … [Read on ... ]

Beverlywood California in L.A.

Foreclosures & loan mods

Credit score with foreclosure and short sales

Credit is the golden calf impacting your financial future. When facing the loss of your home, the decision to modify your loan, short sale your house or just to let your home foreclose can have a long-term impact on your credit. Short sale vs. … [More...]

roulette wheel for post on loan modifications

Why is it so hard to get a loan modification? Homeowners in Beverly Hills, Culver City and Westchester would like to know. Are the odds of getting a loan modification similar to hitting a zero on at a Roulette table in Vegas? The short … [More...]

distressed homeowners with deficiency

Here are two big pieces of the puzzle for distressed homeowners: deficiency judgments after a short sale, and the impact of foreclosures on deficiency judgments. A deficiency judgment is an unsecured monetary judgment against a borrower whose sale … [More...]

News & analysis

Foreclosure and Short Sale tax forgiveness is a gift.

Update: Federal Taxes on Short Sales Forgiven in CA 2014

Update: Federal Taxes on Short Sales Forgiven in CA 2014   Since the Mortgage Debt relief act of 2007 expired in December 2013 there has been much confusion over the issue of the IRS tax on short sales in California.  Although we do not have a law currently in place defining the forgiveness of Federal Taxes on Short Sales in California for  2014 we do have a documented … [More...]

Foreclosure Real Esate time for action

Federal Taxes on Short Sales Forgiven in CA.

Federal taxes on short sales are still forgiven. The Mortgage Debt Relief Act of 2007 allowed taxable debt on your federal income tax to be forgiven on a short sale.  Try searching "The Mortgage Debt Forgiveness Act of 2007" on  web sites like Google  ,Yahoo or Bing.   You'll find the The Mortgage Debt Relief act of 2007 has expired. Does that mean you will owe money to the … [More...]

Credit score with foreclosure and short sales

Credit? Short sale or foreclosure or loan mods?

Credit is the golden calf impacting your financial future. When facing the loss of your home, the decision to modify your loan, short sale your house or just to let your home foreclose can have a long-term impact on your credit. Short sale vs. foreclosure vs. loan modification and the impact on credit is not an exact science. Many variables come into play. Let's start by … [More...]