Home> U.S. Homes Lost to Foreclosure Hit 6-Year Low in 2013 LOS ANGELES January 16, 2014 (AP)By ALEX VEIGA AP Real Estate Writer  The number of U.S. homes that got started on the path to foreclosure fell last year to a low not seen since before the high-flying days of the housing boom, the latest evidence that the … Continue reading

Bill Seeks to Extend Federal Tax Exemption for Forgiven Mortgage Debt

Congressman Bill Foster (D-Illinois) introduced the Homeowners Debt Relief Extension Act (H.R. 3856) on Tuesday. The bill would extend the mortgage debt tax exemption that’s been in place since 2007 for another two years. The Mortgage Debt Relief Act of 2007 makes debt that is reduced or cancelled through a loan modification or debt forgiven … Continue reading Bill Seeks to Extend Federal Tax Exemption for Forgiven Mortgage Debt

Limitation for collecting on Deficiency

New Washington State Laws Benefit Homeowners Doing Short Sales Changes in state laws that go into effect June 7, 2012 will provide significant benefits to homeowners involved in a short sale or facing foreclosure. Time Limitation for Collecting on Deficiency A lender agreeing to the short sale of an owner-occupied property must now provide written … Continue reading Limitation for collecting on Deficiency