[patientlywaiting]

From what I understand debt forgiveness is taxable and you must report it regardless of whether you receive at 1099. It’s like interest income. You need to report interest earned even if you don’t get a 1099 (ie from a foreign bank account or from a private party loan).

Talk to a tax adviser.

[patientlywaiting]

From what I understand debt forgiveness is taxable and you must report it regardless of whether you receive at 1099. It’s like interest income. You need to report interest earned even if you don’t get a 1099 (ie from a foreign bank account or from a private party loan).

Talk to a tax adviser.

[patientlywaiting]

Forget the 500k homes, it's these houses which will see the largest drop %.

I agree.  The overpriced McMansions will get hit hardest.  Average houses will hold up better. 

[patientlywaiting]

Forget the 500k homes, it's these houses which will see the largest drop %.

I agree.  The overpriced McMansions will get hit hardest.  Average houses will hold up better. 

[patientlywaiting]

Buy if that makes you happy. If you think that the incentives are good enough to entice you, then go for it.

If you read this site, you already know what the advice is.

[patientlywaiting]

Buy if that makes you happy. If you think that the incentives are good enough to entice you, then go for it.

If you read this site, you already know what the advice is.

[patientlywaiting]

Here’s the full article.
I’m waiting for ocrenter to do a feature story on this mortgage broker. Let’s follow up on this guy 2 years from now.

http://www.signonsandiego.com/news/business/20071021-9999-lz1h21build.html

[patientlywaiting]

Here’s the full article.
I’m waiting for ocrenter to do a feature story on this mortgage broker. Let’s follow up on this guy 2 years from now.

http://www.signonsandiego.com/news/business/20071021-9999-lz1h21build.html

[patientlywaiting]

I recently did an addition to my place for about $125/square foot. Even though my place is overvalued right now, I doubt it will fall to below $125/square foot.

I doubt that your place is overpriced if the acquisition cost was $125/sf or below. 

 

[patientlywaiting]

I recently did an addition to my place for about $125/square foot. Even though my place is overvalued right now, I doubt it will fall to below $125/square foot.

I doubt that your place is overpriced if the acquisition cost was $125/sf or below. 

 

[patientlywaiting]

Thanks for bring an old thread back to life with a nice illustration. Quail Hill is not even worth $1 million in my view.

[patientlywaiting]

Thanks for bring an old thread back to life with a nice illustration. Quail Hill is not even worth $1 million in my view.

[patientlywaiting]

Man, you must not like those trees!! Hoping your neighbor loses his house over trees? That’s a little bit much.

The trees we have in SD are nothing. Back East, many neighborhoods are like woods.

[patientlywaiting]

Man, you must not like those trees!! Hoping your neighbor loses his house over trees? That’s a little bit much.

The trees we have in SD are nothing. Back East, many neighborhoods are like woods.

[patientlywaiting]

Bugs, you made an interesting point when you said “I don’t have to worry about the federal banking regulators associating my name with those bad deals.”

As we all know, appraisers were key in making deals happen.

I wonder if lenders are developing risk management systems to better underwrite future loans so they can identify deals from realtors, brokers, appraisers, and mortgage brokers, whose transactions consistently go in default.

We rate our schools, teachers and principals by graduation rates; so why not rate the people who initiate real estate transactions the same way by?

The US government uses software to track down terrorists and you’re guilty by association.

Could the FBI not track down the fraudsters the same way? For example if 90% of a Realtor’s transactions end up in foreclosure, that should immediate raise a red flag. By triangulating, law enforcement could easily identify the people who facilitated fraud and put them jail.

If anything, Banks should develop internal risk management systems so they can avoid writing loans on transactions initated by “at risk” individuals.

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