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. ... Read More
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. ... Read More
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. ... Read More
Our column from the Riverside Press-Enterprise, Oct. 18, 2014: Enduring the passing of a loved one can be difficult and emotionally devastating. Inheriting an upside-down home just adds undue pressure. But as the real estate market has leveled out, should the heirs sell an underwater home, or just let it go to foreclosure? It depends on the answers to the following questions: ... Read More
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. ... Read More
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. Read More
Our Column from the Riverside Press-Enterprise, June 7, 2014: Dealing with the death of a loved one is difficult and emotionally charged. Inheriting an upside-down home just adds pressure to an already stressful situation. But should the heirs sell an underwater home, or just let it go to foreclosure? Read More