IRS Information and Guidelines for Debt Forgiveness
September 23, 2012

If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.

The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

This provision applies to debt forgiven in calendar years...Read More 

Sep 14 2012, 4:23PM

AMAZING incentives September will be offered to buyers who submit offers from September 14-16, 2012. Get the scoop here!

Sep 14 2012, 2:57PM

by Matthew Graham 

Mortgage rates moved slightly lower today after falling significantly on the Fed's policy announcement yesterday. The drop in rates today is...Read More

June 19, 2012

Short Sales Provide Alternative to Foreclosure for Delinquent Borrowers Who Have Exhausted or Declined Home Retention Solutions

 CALABASAS, Calif. – Adding to its foreclosure prevention initiatives, Bank of America has launched a nationwide program that offers delinquent mortgage customers increased assistance with relocation expenses – between $2,500 and $30,000 - at the completion of a qualifying short sale.

 “Bank of America is committed to providing alternatives to foreclosure whenever possible,” said Bob Hora, home transition services executive for Bank of America. “This program can help customers make a planned transition from ownership when home retention options have been exhausted or they have made a decision not to keep the home.”

The short sale relocation assistance program... Read More

By Lillianne Echevarria June 2, 2012

This June 7th to the 11th don't miss NACA's American Dream Event, geared towards homeowners with an unaffordable mortgage and homebuyers wanting to purchase a home with the best mortgage in America!!

Visit NACA  for additional information or to register and then put your document package together and call me at 972-740-4962.

By Les Christie, May 23, 2012: 10:58 AM ET

NEW YORK (CNNMoney) -- Sales of new homes are showing some signs of life, growing 3.3% month over month to an annualized rate of 343,000 in April, according to a government report released Wednesday.

Sales are still slow compared with the boom years when they reached a rate of close to 1.4 million, but the month's results were slightly better than expected. Industry experts had projected a rate of 339,000, according to Briefing.com.

The prospects for developers seem to be improving. Luxury builder Toll Brothers reported Read More

By msnbc.com news reports 4/26/2012

Single-family home prices rose for the first time in 10 months, in an encouraging sign the battered sector is starting to stabilize, a closely watched survey said on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.2 percent in February on a seasonally adjusted basis, matching economists' forecasts.

It was the first time prices have gained since April 2011. That gain was itself an anomaly in a string of declines stretching back to May 2010. Read More

Want to remodel your home? These eight strategies will help you yield substantial savings.
By Josh Garskof @Money - Last updated April 24 2012: 5:53 PM ET

Do your remodeling off season - Like accountants and farmers, home-improvement pros have a slow season when they may slash prices to grab business.

Redoing your bathroom in January, replacing a furnace in July, or installing a patio in November could yield 5% to 15% savings. Read More

by Dave Ramsey Dave Says Published April 17, 2012 FOXBusiness

Dear Dave,

Is it ever a good idea to sell your home and buy a smaller, less expensive one in order to get out of debt more quickly?

-Autumn

Dear Autumn,

It’s a good idea in some situations. If you don’t really like the house, or maybe you were thinking about selling it anyway, then I’d say go for it. It would also be a smart move if you simply have too much house and the payments are eating you alive.

I usually recommend that your monthly mortgage payment or rent be no more than 25% of your take-home pay. If your house payments are taking 40% to 50% of this figure, then it’s time to unload the house Read More

By John Riha

There’s no steering around it—driveways play a big role in your home’s appearance. Small wonder: They’re sizeable features. A typical 20-by-40-ft. suburban driveway occupies about 800 sq. ft. of front yard—almost half a tennis court. Yet we often regard these hardworking necessities simply as slabs of concrete. With a little imagination, however, you can cook up a great-looking driveway that’ll boost curb appeal and help preserve the value of your property. Here are some ideas: Read More