If I short sale my house and I still owe a lot more on my loan than what the home sells for, do I have to pay taxes on the diff?

You should check with your CPA on this. If you do pay tax - and that is a big if, it is on the amount of the debt discharged. The reason why I...

What is the difference between a loan mod and a forbearance?

No, they are not exactly the same and they may share some similar characteristics. A loan modification if permanent permanently resolves your...

Banks

If the trustee's sale has not occurred, you have more options. Bankruptcy helps delay but not prevent foreclosure. I hope nobody has advised...

My CPA told me to let the house go into foreclosure. Spouse died 2 years ago and I lost more than 50% of monthly income.

I agree with the previous answers about not throwing good money after bad. Since you're close to retirement and need a place to stay, what have...

Cand lender put home in trustee sale after sending letter granting loan modification?

It depends on what is it that you've been granted for. Under the HAMP program, loan servicers are required to first put you on a trial...

3 day pay or quit notice

The law does not require that you prepare a separate notice for each tenant. Usually when I prepare the 3-day notice, I would name only the...

Is my real estate agent responsible for intentionally misleading me into signing a document in order to close a short sale?

It is debatable if the second can come after you if they've agreed to the short sale but reserved the right to pursue against you for any...

Selected as the best answer

Small claims is not only a definite option but a preferred one if the amount of damage does no exceed $7500. This may or may not be an act of...

My home was foreclosed on & I had a heloc. Now the heloc went to a collection agency, they said they could get it from my bank

When you're home was foreclosed by the first lender, the second lender's interest got wiped out. As a sold out junior lienholder, they can come...

Any attempt to transfer the beneficial interest of a trust deed without ownership of the underlying note is void??

If nothing is done to fix the problem, yes. But it can be fixed by the noteholder endorsing the note and reassigning the deed of trust to the...