Supposedly to be in line with recent judicial case law, the New York State Department of Taxation and Finance has reversed its previous position and now declares that the sale of Title Abstracts are subject to sales tax in New York. This new ruling will take effect September 1, 2010. The memorandum issued by the…
In our current distressed market, there are a few avenues available to distressed, underwater homeowners: loan modification, Deed-In-Lieu, short sale or foreclosure. For those that lack the necessary income to qualify for a loan modification, a short sale is often the best choice. If the property is the homeowner’s principal residence, the debt forgiven in…
CNN recently posted a video on their website detailing the “shocking” story of a woman who paid her mortgage but whose home is being foreclosed upon, jumping on the fraud bandwagon and telling the stories of homeowners preyed upon by the real estate & banking industry. The video leaves out more than it tells, in…
