C.A.R.

Survey Finds Tedious Lender Requirements, Poor Communication Hamper Short Sales

LOS ANGELES (March 8, 2011) – Fewer than three of five short sales close in California, illustrating the complexity and difficulty of navigating lenders’ and servicers’ short sale procedures, according to a Short Sale Lender Satisfaction Survey conducted by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). The survey gauges REALTORS®’ experience in working with short sale …

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New Laws for 2011

C.A.R. Member Legal Services has published a new legal article, 2011 New Laws (Nov. 3, 2010). It is available as a navigation tab under the Legal Section and also on the Real Estate Resources page on C.A.R. Online.  This new chart summarizes all the significant new laws passed by the California and Federal legislatures affecting the real estate industry …

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California REALTOR EXPO

CALIFORNIA REALTOR® EXPO is the premier trade show for California’s real estate industry.  This annual event features one-of-a-kind educational, networking and professional development opportunities designed specifically for California REALTORS® and will be held October 5-7, 2010 at the Anaheim Convention Center.  CALIFORNIA REALTOR® EXPO is FREE for all members of CALIFORNIA ASSOCIATION OF REALTORS®, but …

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C.A.R.-Sponsored Bill to Protect Borrowers From Lenders

C.A.R. is sponsoring SB 1178 (Corbett) to extend anti-deficiency protection to homeowners who had refinanced from “purchase money” loans and are now facing foreclosure. C.A.R. is sponsoring SB 1178 because most homeowners don’t know that when they refinanced from their original loan they lost their legal protections and now may be personally liable for the …

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California won’t tax forgiven mortgage debt

Governor Schwarzenegger on Monday signed SB 401 (Wolk) into law providing distressed homeowners with state tax exemption on debt forgiven in a short sale, foreclosure, or loan modification.  Effective immediately, this bill generally aligns California’s tax treatment of mortgage debt relief income with federal law.  For debt forgiven on a loan secured by a qualified …

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