Information Links


Mortgage Modifications

Making Home Affordable is the U.S. Government Website which provides a wealth of information for those who are interested in seeing if they qualify for a modification of their existing home mortgages.  This is the first place you should go for information if you think you may be in trouble with your mortgage.  

 

Tax information 

Whenever someone sells a home, there can be tax implications.  You should consult an accountant to get the most current information tailored to your particular situation.  The IRS website however has a wealth of information that can get you started.  If you are potentially going to sell your home for less than what is owed on your mortgage(s), or if your home may be subject to foreclosure, click here for the IRS publication explaining what part of the debt forgiveness may or may not be reportable as income.  California Homeowners with these questions should also consult the State Franchise Tax Board website for the latest information on tax treatment of loan forgiveness through short sale or foreclosure.  A recent article regarding the subject can be found here.

278 McKnight Road
Newbury Park, CA 91320
info@orovistacorp.com
Phone: 805.375.1660 | Fax: 805.375.1661
Real Estate Broker, CA Dept. of Real Estate License # 01837882