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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 […]

Here’s another example of the jumbled mess prevalent in the housing and mortgage market: Bank of America    , Washington state’s largest bank by market share, has sued Bank of America in a foreclosure case. Multiple times. Online newspaper The Huffington Post reported this item. It points to a dozen cases in Florida where BofA, […]

Greetings from the Windermere Foundation, Thanks to you and the wonderful support the Windermere Foundation has received so far this year, we have disbursed nearly $185,000 to qualifying social service organizations dedicated to serving low-income and homeless families throughout the Western U.S. Our amazing agents, brokers, staff and owners, along with public supporters, continue to […]

We report on Fannie Mae’s Quarterly National Housing Survey every ninety days. Fannie Mae also does a monthly survey covering different aspects of the housing market. Here are some record numbers we found interesting in Fannie Mae’s March report (emphasis added). Thirty-three percent of respondents expect home prices to increase over the next 12 months, the […]