Announcement

Collapse
No announcement yet.

Ca Mortgage Debt!

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Ca Mortgage Debt!

    Attn all CA people is it true that the state does not conform to the federal mortgage forgiveness relif act? I just had a client come in and this was the first person I encountered this with.

    Does anyone know if the state will change this before 4/15 or will we have to go back and amended? Does this only pertain to short sales because the clients get a 1099c where if it a foreclouser they get a 1099a? I have always told people it is better for a short sale but now it may be better the other way around.

    Only in CA they will squeeze any penny they can from us!!

    Superman

    #2
    Calif

    For discharges occurring on or after Jan 1, 2009, there is a bill pending, but as of 2/19/10 California has not conformed to Federal.

    Sandy

    Comment

    Working...
    X