BiggerPockets

Home Seller Tips | What You Need To Know About Cancellation of Mortgage Debt

Thursday, April 12

Occasionally, a lender may partially waive a borrower’s debt. The common tax rule is that the sum of the debt forgiven is to be considered as taxable income to the borrower. Of course, there are exceptions to this rule; although, the borrower is still required to pay some sort of tax on the forgiven debt.

There was a tax law that was enacted in December 2007, which provides assistance to distressed borrowers when some part of their obligation is forgiven. Unfortunately, this relief will be expiring on December 31, 2012, and NAR will surely be working hard all throughout the year to get the expiration of the tax law extended...continue reading

Secrets To The Short Sale Hardship Letter

Friday, March 09

A Short Sale Hardship Letter is a letter that you need to write to your bank or lending institution to request them to consider a short sale to prevent your home from being foreclosed.

After having assembled dozens and dozens of short sale packages, I have found that more than any other document, the hardship letter can make or break a short sale. Even though the banks care most about dollars and cents, it is essential to keep in mind that the package will be checked by an individual loss mitigator. Like all of us, this loss mitigator is a real person with real emotions, and can be moved by a sincere story of hardship...continue reading

North of Montana – Santa Monica Luxury Home Community

Wednesday, March 07

North of Montana Avenue is comprised mostly of larger family homes and lots. Homes in this part of Santa Monica are among the most expensive of any Santa Monica neighborhood as well as among the most expensive in Los Angeles County and the country. A lot of Santa Monica’s historically significant landmarked homes are to be found here, some of them designated as Santa Monica Historical Landmarks in the National Registry...continue reading

Quick Weekly Santa Monica Real Estate Market Update – February 17 to 24, 2012

Monday, February 27

Come and Taste The Delectable Goodies of PPLA’s Food Fare 2012 in Santa Monica

Wednesday, February 22

On March 8, 2012, the celebrated Planned Parenthood Los Angeles’ (PPLA) annual Food Fare even will be held at the Santa Monica Civic Auditorium, and will host more than 150 of Los Angeles’ finest restaurants, caterers, wineries, florists and entertainers...continue reading

Government’s Latest Bail-Out Plan – Home Affordable Refinance Program (HARP)

Thursday, February 16

The Home Affordable Refinance Program Has Been Extended Until December 31, 2013

The Home Affordable Refinance Program or HARP is just a piece of the $75 billion government sponsored Making Home Affordable Program. It can help borrowers reduce their monthly mortgage payments significantly. You can apply for the HARP refinance loan and get the lowest possible home affordable refinance program rates if:...continue reading