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San Pedro Homes in Zip Codes 90731,90732 Are Selling Fast!
California Association of Realtor’s is reporting homes are receiving offers at a fast pace. Due to the limited number of homes for sale in San Pedro, current homes on the market are receiving offers in 1-6 weeks. San Pedro neighborhoods include South Shores, Palisades,Point Fermin, Vista Del Oro, Miraleste Pines, and Holy Trinity area to…
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SHORT SALES NOT SUBJECT TO STATE OR FEDERAL INCOME TAX FOR CANCELLATION OF DEBT
SHORT SALES NOT SUBJECT TO STATE OR FEDERAL INCOME TAX FOR CANCELLATION OF DEBT Short sales in California are generally not subject to state or federal income tax for cancellation of debt. The Franchise Tax Board (FTB) issued a letter yesterday stating that, as nonrecourse obligations, short sales in California are not subject to state income…
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California Mortgage Debt Relief Bill Still in Limbo
California Mortgage Debt Relief The California Senate passed the California Association of Realtors®-sponsored tax relief bill without a single “no” vote on June 20, 2013. SB 30 protects homeowners from paying income tax on a short sale. As you may remember, one of the major successes Congress reached in the “fiscal cliff” negotiations late last year…
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