NOT LISTEDSANTA MONICA CONDO - SUNSET PARK2 BEDROOM / 2 BATH / 1400 SQ FTFOR LEASE --$4500 / MOS Quiet Unit in Great complex. Close to Pool and Spa this 2BR 1.75BA Condo has a large living room
Extension Of The Mortgage Debt Forgiveness Act Really Big Of Our Congress What BS
Now we are expecting our government to protect us from criminals like this but I guess this wasn't to be because it continued until it burst on its own, just like it did with old Bernie. So here we get the middle class housing values start going down and this hard working guy who has done nothing wrong sees the value of his home go below his mortgage...He is underwater. Now he has to sell, economy goes to hell jobs dry up but his house is not worth what he can sell it for.
Here is the best part there is a process called a short sale and after months and months of begging the banker, who probably was directly involved in selling houses for 50% to 100% more then the value to people who were unemployed, decides that you are worthy of a short sale. So lets say you have a $300,000 mortgage and your house is worth and sells for $200,000. The bank has forgiven you a $100,000 in debt... Now are you ready!!!!!!!
the government taxes you as income that $100,000 .
So you see that now the government plays up how they are helping these people with extending the Mortgage Debt Forgiveness Act ... Really great word Chutzpah (look it up in a Yiddish dictionary) that describes the government
Really upsets me how about you
WHAT IS YOUR HOME WORTH? CLICK TO FIND OUT VIA TEXT MESSAGE!!!!!
Robert Schmalz California Broker Lic #01813025
West LA Real Estate Group / Rodeo Realty
11940 San Vicente Blvd Suite #100
Los Angeles, CA 90049
Serving all of Santa Monica, Brentwood CA,
Pacific Palisades and West Los Angeles
CLICK TO SEARCH THE MLS
DBA "West Los Angeles Real Estate Group" ....