California approves tax break for people who complete short sales

Finally and just in time for tax season!  California legislature has approved a measure that will waive the tax on mortgage  debt forgiven by lenders  during a successful short sale and/or foreclosure.   This act will now put California in sync with the Federal measure which also forgives the tax on mortgage debt that is forgiven.    People in need are getting some relief.

Get Adobe Flash playerPlugin by wpburn.com wordpress themes