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Wildomar Short Sellers not subject to state income tax liability on debt forgiveness

The good news just keeps coming: As we anticipated, C.A.R. today received a letter from the California Franchise Tax Board (FTB),obtained by the State Board of Equalization, clarifying that California families who have lost their home in a short sale are not subject to state income tax,liability on debt forgiveness “phantom income” they never received in a short sale. Last [...]

By | 2013-12-05T14:11:12-08:00 December 5th, 2013|Wildomar Short Sale Agents|0 Comments

Short Sales approvals for Wildomar homeowners-Citibank & Chase

I recently received approvals on two short sales with Chase & CitiBank, both banks I must say were responsive. I was especially impressed with Citibank who I had not dealt with in quite a while. They approved the short sale within 60 days. Still working on addressing the second lien with USAA, which is another story [...]

By | 2013-07-28T20:12:39-07:00 July 20th, 2013|Wildomar Short Sale Agents|0 Comments