sacramento distressed property: Sacramento, Carmichael Tax-Debt Relief! - 04/22/10 07:43 AM
I’m tickled pink to report that our California Governor just signed Senate Bill 401. SB 401 provides additional relief to distressed homeowners by eliminating the need for them to suffer tax implications on distressed home sales.
 

In other words, if you have to short sale your home, if it was foreclosed or you do a deed in lieu (also known as a strategic foreclosure—not that there is such a thing, IMHO), PRIOR you might be taxed by the state for the part of the loan you did not pay back. This was a big thorn in the side of … (0 comments)