Following suit with the IRS, who just announced it will no longer tax people for the short sale of homes at full market price, is the state of California. This announcement comes as a major break for those looking to short sale their home and avoid foreclosure. Potential Effects of the Short Sale Rule While  … Read more

According to recent third quarter numbers, the national negative equity rate fell at a rapid pace. Despite this quick freefall, the number of people with underwater mortgages is still high. Twenty-one percent of all American homeowners are still underwater with their mortgage. These statistics come from the Zillow Negative Equity Report for the third quarter  … Read more

The 2007 tax law enacted by the IRS that prohibits treating short sale debt forgiveness as taxable income is set to expire, according to a foreclosure lawyer. This same law was set to expire at this time last year, but Congress enacted legislation to extend the program for 2013. This time around, no such legislation  … Read more

A new study released recently shows that Dallas foreclosure rates are hitting record lows, with foreclosures down 49 percent from a year ago at this time. The numbers are consistent with a nationwide decrease in foreclosures that optimists are seeing as the beginning of a total housing recovery. Foreclosure Rates Lowest in Decade In Dallas,  … Read more

According to a foreclosure lawyer , foreclosure starts – the measure by which many industry professionals measure the status of the market – are down by nearly 40% from last year’s numbers. That is a very good sign both for the long-suffering housing market, and for the individual homeowner; the latter being less and less  … Read more

The coining of a new real estate term has real estate experts running scared: recently, a leading realty tracking firm released a report on what it has termed “vampire” foreclosures, where the homeowners are still living in the foreclosed property. According to this report, these “vampire” foreclosures are artificially inflating the housing market, and could  … Read more

The state of Nevada has had a hard time of it in the housing crash and its aftermath. Even now, Nevada ranked dead last in terms of nationwide foreclosure rates for 2013. Three months ago, the state passed a new law easing foreclosure requirements, but just this week another new law adds more complications to  … Read more

According to the latest numbers, Nevada is leading the pack by a wide margin – unfortunately, the category it is leading in is foreclosures per housing unit, hardly a stat to boast about. Nevada’s foreclosure rate is at about 1 in 300 homes, way above the national average of 1 in 1000. According to a  … Read more

The latest numbers are in, and the news is good: foreclosure rates are at a low not seen since before the housing market bubble burst six years ago. The numbers are still not back to where experts would like them to be, but signs point to the slow regrowth of the housing market since home  … Read more

A new ruling in a San Francisco circuit court has changed the law surrounding loan modification programs in that district, according to a foreclosure attorney close to the case. The ruling ends the practice some mortgage companies had been employing of using “trial refinancing” options to squeeze a few months’ extra payment out of homeowners  … Read more