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Essential reading: Missouri political donor thrives with no limits, and …

… nation's biggest banks to forgive more mortgage debt, another financial threat looms. As it stands now, any mortgage debt forgiven by a lender in a short sale, loan modification or foreclosure is...

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California may tax debt forgiven in short sales as income

Californians who were hoping that the state wouldn’t count loan debt forgiven in a short sale as income could be in for a rude surprise at tax time, as the fate of a bill to reinstate the tax break is...

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Californians can still opt for short sales without worrying about tax...

The Internal Revenue Service recently clarified that California homeowners would not be liable for federal income tax on debt forgiven in a short sale, even after the expiration of the federal Mortgage...

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Mortgage debt tax break expires, but likely to be extended

As Jan.1 rolled around, Congress failed to extend a 6-year-old federal law that allowed homeowners to avoid liability for federal income tax on debt forgiven in a short sale or through a principal...

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5 Things That Could Trigger a Bigger Tax Bill – DailyFinance

by U.S. News Mar 19th 2014 6:00AM See the original post here: 5 Things That Could Trigger a Bigger Tax Bill – DailyFinance

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Mortgage debt relief extension closer to reality

The Senate Finance Committee has passed a two-year retroactive extension of a law that allowed homeowners to avoid being taxed on debt forgiven in a short sale or through a principal reduction, Realtor...

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Home Owners Think Twice About Short Sales | Realtor Magazine

Daily Real Estate News | Friday, April 25, 2014. Since the expiration of the … See more here: Home Owners Think Twice About Short Sales | Realtor Magazine

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Falling Short: Where Are All the Short Sales Going?

An article in National Mortgage News suggests that a primary reason is the expiration of a law that eliminates federal tax on debt forgiven in a short sale. Typically, the IRS treats debt forgiveness...

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