Comments on: Short Sale and Foreclosure Real Estate Tax News http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/ Home buying, home selling tips, neighborhood videos, Instant Foreclosure access, Instant MLS search homes for sale,market stats, Sun, 23 Nov 2008 00:49:26 +0000 http://wordpress.org/?v=2.6.1 By: Gena Riede http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/#comment-16634 Gena Riede Mon, 20 Oct 2008 18:33:05 +0000 http://sacramentorealestatevoice.com/2007/10/14/400/#comment-16634 Dylan, It did pass but one of the things that most people don't realize is that the State is not part of that bill. Those homeowners who have lost their homes may be issued a 1099 at the end of the year. Also, some loans that are recourse loans may not be forgiven and the banks can go after the homeowner. It's a very good idea for anyone tangled up in this mess to seek the advice of an attorney. Dylan,
It did pass but one of the things that most people don’t realize is that the State is not part of that bill. Those homeowners who have lost their homes may be issued a 1099 at the end of the year.

Also, some loans that are recourse loans may not be forgiven and the banks can go after the homeowner.

It’s a very good idea for anyone tangled up in this mess to seek the advice of an attorney.

]]> By: Dylan Darling http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/#comment-16630 Dylan Darling Mon, 20 Oct 2008 15:58:13 +0000 http://sacramentorealestatevoice.com/2007/10/14/400/#comment-16630 Hopefully this bill passes. We need all the help we can get to turn our economy around. If this bill doesn't pass, these homeowners will not have money to put back into the economy. Hopefully this bill passes. We need all the help we can get to turn our economy around. If this bill doesn’t pass, these homeowners will not have money to put back into the economy.

]]> By: Indianapolis Real Estate http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/#comment-12426 Indianapolis Real Estate Sat, 20 Oct 2007 02:14:01 +0000 http://sacramentorealestatevoice.com/2007/10/14/400/#comment-12426 Gena - We know someone will have to pay for the loss of taxes. It will be interesting to see the laws which change as we weed through the end of this down market. ~Paula Gena - We know someone will have to pay for the loss of taxes. It will be interesting to see the laws which change as we weed through the end of this down market.
~Paula

]]> By: Joanne Hanson http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/#comment-12423 Joanne Hanson Sat, 20 Oct 2007 01:37:28 +0000 http://sacramentorealestatevoice.com/2007/10/14/400/#comment-12423 Great news for primary home owners in a short sale situation but not so good for second home owners! We will see what happens as it goes through the Senate and to the President's desk. Great news for primary home owners in a short sale situation but not so good for second home owners! We will see what happens as it goes through the Senate and to the President’s desk.

]]> By: Bob Fortner http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/#comment-12418 Bob Fortner Fri, 19 Oct 2007 13:22:27 +0000 http://sacramentorealestatevoice.com/2007/10/14/400/#comment-12418 I think this is a great bill and it really needs to pass. Why should the government pile on to someone's misfortune. Working out a deal with the bank in a short sale situation should not be considered as an income source. This probably won't be a problem for Bush to sign... I just hope it doesn't get something weird attached to it in the Senate! I think this is a great bill and it really needs to pass. Why should the government pile on to someone’s misfortune. Working out a deal with the bank in a short sale situation should not be considered as an income source. This probably won’t be a problem for Bush to sign… I just hope it doesn’t get something weird attached to it in the Senate!

]]> By: Gena http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/#comment-12398 Gena Tue, 16 Oct 2007 18:29:37 +0000 http://sacramentorealestatevoice.com/2007/10/14/400/#comment-12398 Thesa, now all we need is for the Senate to pass it and Bush to sign it into Law. Thesa, now all we need is for the Senate to pass it and Bush to sign it into Law.

]]> By: Thesa Chambers | Broker | Sunriver Realty http://sacramentorealestatevoice.com/2007/10/14/short-sale-and-foreclosure-real-estate-tax-news/#comment-12397 Thesa Chambers | Broker | Sunriver Realty Tue, 16 Oct 2007 07:37:19 +0000 http://sacramentorealestatevoice.com/2007/10/14/400/#comment-12397 This is great news for those that have faced this problem... it is hard enough to be in this place - but then to be hit with the taxes is almost a double whammy - great job sharing this great information This is great news for those that have faced this problem… it is hard enough to be in this place - but then to be hit with the taxes is almost a double whammy - great job sharing this great information

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