3 Articles match "Example","Nevada","Tax"

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Secrets of Pre-Foreclosure Investing
On December 18, Congress passed new legislation to eliminate taxes on mortgage debt. 20 and will provide a temporary, three-year change to the tax code to eliminate any taxes homeowners might face when banks renegotiate the terms of a home loan and forgive a portion of the outstanding mortgage debt. The change in the tax law will cap untaxable forgiven debt at $2 million and apply only to principal residences. Secrets of Pre-Foreclosure Investing By Octavio Nuiry, RealtyTrac Staff Writer    One pre-foreclosure expert says a new federal law will change everything, and short sales and short payoff sales will become the new trend in the marketplace.
www.realtytrac.com - Tuesday, February 3, 2009
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High-End Foreclosures Rising Among Top Tier Homes
But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling behind on their construction loans, mortgage payments, property taxes, auto loans and credit cards at an alarmingly fast pace, according to industry analysts, economists and real estate brokers . Defaulting on Desert Dream Homes No state has been hit harder by the foreclosure crisis than Nevada. High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing.
www.realtytrac.com - Tuesday, February 3, 2009
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A (Relatively) Few Bad Apples Spoil the Barrel
quot;Areas of California, Florida, Nevada and Arizona continue to be particularly hard-hit. Property tax bases are eroding, putting municipal budgets in peril. For example, the city council in Vallejo, California -- part of a metropolitan area with a foreclosure rate that ranked sixth highest in the nation in April - last week voted to have the city file for bankruptcy." According to the RealtyTrac U.S. Foreclosure Market Report issued today, the total number of properties with foreclosure activity in April reached the highest level on a monthly basis since RealtyTrac
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • A (Relatively) Few Bad Apples Spoil the Barrel
    quot;Areas of California, Florida, Nevada and Arizona continue to be particularly hard-hit. Property tax bases are eroding, putting municipal budgets in peril. For example, the city council in Vallejo, California -- part of a metropolitan area with a foreclosure rate that ranked sixth highest in the nation in April - last week voted to have the city file for bankruptcy." According to the RealtyTrac U.S. Foreclosure Market Report issued today, the total number of properties with foreclosure activity in April reached the highest level on a monthly basis since RealtyTrac
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Secrets of Pre-Foreclosure Investing
    On December 18, Congress passed new legislation to eliminate taxes on mortgage debt. 20 and will provide a temporary, three-year change to the tax code to eliminate any taxes homeowners might face when banks renegotiate the terms of a home loan and forgive a portion of the outstanding mortgage debt. The change in the tax law will cap untaxable forgiven debt at $2 million and apply only to principal residences. Secrets of Pre-Foreclosure Investing By Octavio Nuiry, RealtyTrac Staff Writer    One pre-foreclosure expert says a new federal law will change everything, and short sales and short payoff sales will become the new trend in the marketplace.
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • High-End Foreclosures Rising Among Top Tier Homes
    But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling behind on their construction loans, mortgage payments, property taxes, auto loans and credit cards at an alarmingly fast pace, according to industry analysts, economists and real estate brokers . Defaulting on Desert Dream Homes No state has been hit harder by the foreclosure crisis than Nevada. High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing.
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE