Tax Law Change Coming On Short Sales

Steve Holderfield — Wed, 18 Jan 2012 00:31:00 +0000

Image by 401K via Flickr
Did you know that if you are upside down on your home and process a short sale, that the amount that the bank forgives is scheduled to become taxable in 2013? That means that, for example, if the bank forgives say, $100,000 in order for you to sell you home, that $100,000 would be taxed at your tax rate. For a person in the 25% tax bracket that means they would owe $25,000 to Uncle Sam. If you are having trouble making your payments, I can think of no better reason to do a short sale in 2012. Contact us today. You do have options!

Banks Are Healing, But Not Reinvesting

Steve Holderfield — Wed, 28 Sep 2011 18:21:00 +0000

http://economistsoutlook.blogs.realtor.org/2011/09/28/financial-industry-corporate-profits/
Why? Uncertain regulation by the Feds. Our current administration needs to, in my opinion, find ways to provide confidence in our markets and the future. Unfortunately, I think this means the need to cut the government spending back to the Clinton levels. We just cannot sustain the current spending levels. Another thing that could be done is to get rid of all this overregulation and red tape… Let’s start bt appealing Obama Care!
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Pacific Coast Properties » Financial services

Tax Law Change Coming On Short Sales

Banks Are Healing, But Not Reinvesting