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Showing posts with label deed-in-lieu. Show all posts
Showing posts with label deed-in-lieu. Show all posts
Wednesday, October 14, 2020

Consent to Foreclosure or Deed in Lieu as Mortgage Workout Options: Which is Better?

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With roughly 10% of Long Island homeowners behind on their mortgage, it's time to start thinking about foreclosure settlement options. ...
Friday, January 10, 2020

New Law: Mortgage Forgiveness Debt Relief Act Extended to 1/1/2021

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On December 20, 2019,  Public Law No: 116-94  extended 26 USC 108(a)(1)(E) to 1/1/2021.  According to the IRS , this law "allows taxp...
Tuesday, July 26, 2016

Changes to New York Foreclosure Law Impose Stringent Penalties for Failing to Negotiate in “Good Faith”

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Recently Governor Andrew Cuomo signed into law a comprehensive piece of legislation , which makes sweeping changes to New York’s requiremen...
Wednesday, December 30, 2015

Income Tax Relief after a Short Sale for 2015 & 2016

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The President has extended the Mortgage Forgiveness Debt Relief Act through the end of 2016 by signing Congress’ Spending Bill into law. ...
Tuesday, May 26, 2015

The Making Home Affordable Program (MHA) has been formally extended 1 year

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The Making Home Affordable Program (MHA) , has been formally extended 1 year, through December 31, 2016, by Supplemental Directive 15-04 ....
Tuesday, November 25, 2014

Good Faith Decisions on Short Sales - Updates Coming 12/1/2014

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Effective December 1, 2014 , the Courts of the State of New York will oversee negotiations between lenders and borrowers to achieve a short...
Friday, October 31, 2014

Short Sales Incentivized

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On October 30, 2014, Supplemental Directive 14-04 was issued by Treasury. 2 major changes for those considering a short sale or deed-in-l...