Foreclosure Tax Break Headed for Extension

Our column from the Riverside Press-Enterprise, Dec. 13, 2014: The House of Representatives late last week approved a one-year extension of a bill that would shield distressed homeowners from paying massive tax bills after a short sale, foreclosure or loan modification. The U.S. Senate was scheduled to consider the bill late this week before recessing Dec. 11 for the holidays. If both chambers approve the tax-extender bill, it would then move to President Obama for a ratifying signature. ...

Pressure Mounts to Extend Foreclosure Tax Break

Our column from the Riverside Press-Enterprise, Dec. 6, 2014: The National Association of Realtors is putting pressure on Congress to extend an expired law that protected distressed homeowners from paying massive tax bills after a foreclosure or loan modification. As the holiday recess nears, federal lawmakers still have not acted on any of several bills to extend the federal Mortgage Forgiveness Debt Relief Act, which expired at the end of last year. ...

Foreclosure, Loan Mod Tax Breaks Still Mired in Politics

Our column from the Riverside Press-Enterprise, Oct. 25, 2014: As November elections approach, Californians facing foreclosure or working on loan modifications anxiously wait to see if they will face massive tax bills. Lawmakers, who failed to extend the federal Mortgage Forgiveness Debt Relief Act at the end of last year, remain head-down in politics and focused on control of their legislative bodies. Meanwhile, tax break extension bills have been sitting in committees for months. Today, for Californians, only short sales are protected from hefty tax bills, shielded by different legislation that does not expire. ...

Don't Make the Same Real Estate Mistakes of the Past | Selling a Home in Riverside Calif | Refinancing Dangers | Brian Bean and Tim Hardin Dream Big Realty ONE Group

Don’t Make the Same Real Estate Mistakes of the Past

Our column from the Riverside Press-Enterprise, Sept. 27, 2014: The Southern California real estate market has slowed and analysts are split on whether it will keep chugging along, or if we are on the verge of another decline. Regardless of the immediate future, home buyers and sellers should take heed of the mistakes of the past, many of which helped fuel the market crash that plunged this nation into six years of economic devastation and emotional turmoil. Because when money is involved, people quickly forget. ...

As Market Slows, Homeowners Struggle with Negative Equity

Our column from the Riverside Press-Enterprise, Sept. 20, 2014: Millions of homes with underwater mortgages are tempering the real estate market, especially in the Inland Empire. In the Riverside-San Bernardino-Ontario metropolitan area, 18 percent of homeowners with a mortgage owed more than their houses could be sold for, according to a recent report by online real estate tracker Zillow. ...

Waiting Period After Short Sale | Short Sale in Riverside Calif | Buy Home After Short Sale | Short Sale vs Foreclosure | Brian Bean Tim Hardin Dream Big

Fannie Mae Lengthens Buyer Waiting Period After Short Sale

Our column from the Riverside Press-Enterprise, July 27, 2014: The lending rules are getting tougher for anyone who has completed a short sale. Fannie Mae, which sets the guidelines for most conventional mortgages, has increased the waiting period to four years after a short sale to qualify for a new home loan.