The Mortgage Debt Relief Act of 2007 will save some homeowners facing short-sales or foreclosures from paying federal taxes on the forgiven debt. There are very specific requirements:The mortgage is for the homeowners principal residence. The relief does not apply to any debt forgiveness for a
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01/22/2008
Many potential home buyers are waiting to purchase a home when the market "hits bottom". Unfortunately, even if you time the bottom of the market perfectly, you may ultimately miss it for lack of advance preparation.If you are contemplating a home purchase sometime in the future, now is the time
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01/18/2008
California Housing Finance Agency (CalHFA) has decided to buck Fannie Mae and will NOT impose Soft Market Guidelines. This means a buyer can still get a CalHFA $0 down loan!CalHFA does have income limits. In Contra Costa county, those limits are:For a family of 1 - 2: $95,532For a family of 3
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01/13/2008