No Short Sale Taxes! Mortgage Debt Relief Extended To California Distressed Homeowners
[caption id="" align="alignnone" width="340" caption="Foreclosure, Short Sale and Loan Mod Tax Relief Given"][/caption] Sacramento Short Sale Specialist And Certified Short Sale Expert Reports California Mortgage Debt Relief Act Signed. Gov. Schwarzenegger signs new California law providing a tax break to homeowners who's debt was forgiven through a foreclosure, short sale, or loan modification. We knew he was going to sign it, when they finally got it to him. It's about time! This new bill puts California pretty much in compliance with the Federal Mortgage Debt Relief Act of 2007 that pres. Bush signed Dec. 27, 2007. So it is clear: There is no mortgage debt tax in California. So finally it is clear that for 2009, there is no California foreclosure, short sales...
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