Frances K. Greenleaf

California Mortgage Debt Relief Extended

Based on the passage of SB 401 on April 12, 2010, California now allows taxpayers who had all or part of the loan balance on their principal residence forgiven by their lender to exclude the forgiven debt from California gross income.  The new law now conforms, with modifications, to the federal mortgage forgiveness debt relief for discharges through tax years 2007 through 2012.

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Legal/Tax Issues in Short Sales/Foreclosures

Lately, much has been written and talked about in the news regarding real property short sales and foreclosures.  Federal and state law have also been changing in an attempt to assist homeowners who find themselves "under water" and burdened with excessive mortgage debt.  When faced with a foreclosure, a homeowner has various options and may be assisted by advice from an attorney.

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New DMV and DUI laws for 2009

Important new laws pertaining to DUI and other driving violations are contained at the DMV website.  The laws heighten penalties for anyone driving after drinking alcohol who is on court-ordered post-DUI probation.  The new laws also give greater consideration to the use of ignition interlock devices for DUI convictions and for those with a prior DUI conviction who is subsequently convicted of driving on a suspended license.   A summary of some of the new laws is listed below and a full list is contained

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