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Category Archives: Loan Modifications

MORTGAGE FORGIVENESS DEBT RELIEF ACT UPDATE

As we have reported before, Congress has yet to renew the Homeowners Relief Act which provided a tax break on mortgage forgiveness obtained through short sale, foreclosure, or principal reduction.  It now appears that Congress will extend the Act after the November elections, making it retroactive for all of 2014.  However, it is unclear if […]


50% Of Valley Homes Now Above Water

With home prices on the rise throughout the Valley, more than 50% of Valley homeowners are finally above water.  This means that their homes are worth more than they owe on it. According to Zillow, the share of locals that have negative equity fell to 48.4% in the second quarter of this year compared to […]



Bank of America Lawsuit on Loan Modifications

On June 14, Bloomburg News published an article on a class action lawsuit filed for homeowners who had been denied loan modifications due to Bank of America deliberately blocking the review of their loans for modifications and forcing them into foreclosure. As I began to write this blog (it’s 9:15 a.m.) the news radio show, […]