FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Items Tagged with 'Short sale'


Virginia woman gets five years in prison for short sale scams

Hard time coming for Charise Stone
A Virginia woman will spend the next five years in federal prison after being convicted of 13 counts of mortgage fraud, passing fictitious financial instruments and tax fraud. According to the Department of Justice’s Tax Division, Charise Stone, 46, of Ashburn, Virginia, targeted distressed homeowners in a series of short sale scams.
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Senate should pass bill to give relief to underwater homeowners

Short sale extension would also help communities and investors
Short sales allow the borrower and the lender to walk away from a transaction that has failed for both parties with far less damage than foreclosure or defaulted loan modifications. Unfortunately, short sale transactions declined dramatically in 2014 because Congress did not pass this crucial tax extension until December.
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Short sale tax break signed into law

President Obama makes it official
Homeowners who had short sales in 2014 can now breathe a giant sigh of relief, as the Mortgage Debt Forgiveness Act was signed into law by President Barack Obama. The short sale tax break lives on, for now, at least.
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Senate approves short sale tax break

Allows tax relief on 2014 short sales
Homeowners who had short sales in 2014 were facing massive tax bills unless Congress extended short sale tax breaks. The House of Representatives did its part two weeks ago, and now the Senate has followed suit.
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Short sale tax break passes in House

Now on to the Senate
According to a recent estimate from RealtyTrac, there have been more than 170,000 short sales representing a mortgage debt forgiveness of $8.1 billion total in the first three quarters of 2014 alone. All those borrowers will be facing massive tax bills if the bill doesn't pass in the Senate as well.
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The 12 hottest housing markets right now

And the biggest losers in the price growth race
RealtyTrac’s data for October breaks out the housing markets with the most price gains, the ones that are slowing, and what’s happening with short sales and foreclosures. Where does your market fit in, and what does it mean?
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Congress must extend housing short sale tax relief

Threat of tax penalty has chilling effect on recovery
The classification of the homeowner debt cancelled during a short sale as income allows the IRS to levy a hefty tax bill against Americans who were unable to pay their mortgage, thus burying them in further debt and making the use of the short sale transaction prohibitive.
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