Much anticipated Mortgage Debt Relief Extension signed through 201, with provisions ...

It has been rep[orted that President Obama signed a bill on December 18, 2015,  that extended the Mortgage Forgiveness Debt Relief Act through December 31, 2016. The extension also retroactively covers mortgage debt cancelled in 2015.  In fact, Turbo tax is reporting the same and you can read more information here:  https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/How-to-Avoid-Taxes-on-Canceled-Mortgage-Debt/INF12033.html

The Mortgage Forgiveness Debt Relief Act of 2007 (MFDRA) protects homeowners who have undergone the short sale process from being taxed on the amount of their home mortgage debt that had been forgiven provided certain provisions are met. The recent extension has been met with open arms by many Owners patiently awaiting the signing.

If you are interested in learning more about Short Sales, consult an Attorney or CPA for tax advice however your next best option is to work with a Realtor who is experienced to ensure the best possibility for success in your endeavor.

Roger A. Sullivan

Roger@ShortSaleSully.com

760-610-3245

City and IID need help today !!!

Tustin Larson, City of La Quinta AGENCY

Hello Residents - IID has asked the City to pass on the following news release: The Imperial Irrigation District is requesting a reduction in energy usage today during the critical hours of 1-7 p.m. as hotter temperatures drive energy demand. “If energy usage is not reduced, IID may be forced to institute rolling brownouts this afternoon,” said Marion Champion, IID spokeswoman. “Our system was at peak capacity yesterday and with hotter temperatures in the forecast today we are asking all of our electrical customers to conserve.” IID’s electrical grid sustained significant damage during a severe summer storm last week, and while the district has restored power to the area, it is important that the energy system is not overtaxed. IID asks customers to shift energy-intensive tasks – like laundry and dishwashing – to off-peak hours and conserve energy throughout the day. This will alleviate pressure on the system and help maintain reliability. On Aug. 6, a severe summer storm damaged IID’s electrical system in the eastern Coachella Valley making more than 100 transmission and distribution poles inoperable and leaving hundreds of customers in the Mecca/Thermal area without power for as long as three days. Crews worked around the clock to construct temporary infrastructure and bring the power back on. Final repairs may take as much as one or two months. The following suggestions can help reduce summer energy use: Set your thermostat to 78 degrees or higher. Develop a routine that allows you to avoid the use of major energy-consuming appliances like washers, dryers and dishwashers between the hours of 1 p.m. and 7 p.m. Remember to have your air conditioner serviced annually and change filters monthly. Seal any leaks in your cooling ducts, install weather stripping around doors, and make sure your fireplace damper is closed so cool air doesn’t escape Use floor and ceiling fans or an evaporative cooler to help keep your home cool. Use awnings, solar screens, or trees to keep ultraviolet rays from hitting windows. Close windows and doors when the cooling system is running. For more conservation tips, please visit http://www.iid.com

Aug 14 in General to City of La Quinta

Happy 4th of July 2015

HOPING YOU and YOUR FAMILY ARE

ENJOYING AN AMAZING HOLIDAY!!!

HAVE A WONDERFUL, SAFE and

HEALTHY 4TH OF JULY!!!

GOD BLESS the USA!!

I look forward to exceeding your expectations in fulfilling your Real Estate needs.

Warm regards,

Roger A. Sullivan, Realtor

CalBRE# 01236680

website:  http://RogerASullivan.com

direct: 1(760) 610-3245

office: 1(760) 564-9685

efax:   1(760) 459-2038

Windermere Real Estate

47250 Washington St. Suite B

La Quinta, CA 92253

Happy St. Patrick's Day

Hear ye! Hear ye !

We have been holding our breath for so long wondering what would be happening here in California ... If you have any questions after you read the news here ... Call me. text me, or email me ... I am here to help ... Well - Here it is HOT OFF THE PRESS ... http://www.nationalmortgagenews.com/news/regulation/senate-passes-tax-bill-that-includes-key-mortgage-deductions-1043384-1.html Roger A. Sullivan 760-610-3245 Roger@ShortSaleSully.com http:ShortSaleSully.com

Help for those considering or in a Short Sale

Distressed California Homeowners May Qualify for California's Keep Your Home California Transition Assistance Program (TAP) If your financially distressed California clients can no longer afford their homes and are pursuing a short sale or a deed in lieu of foreclosure, they may be eligible for financial help with their relocation to alternative housing. The funds come from the Transition Assistance Program (TAP), part of the Keep Your Home California Program. The state of California is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes. You can help by advising your distressed clients that they must: •Apply for the funds through their state's website or by calling 1.888.954.5337. •Maintain their property until their house is sold or returned to the lender via a negotiated deed in lieu of foreclosure. For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other preoffer short sale program. To learn more about the Transition Assistance Program's guidelines, and how your clients may qualify, please visit that program's website at http://keepyourhomecalifornia.org

Important news for Short Sale candidates

Back in April, the Senate Finance Committee approved the extension of debt relief for those attempting to sell their homes short of the indebtedness owing to their existing Lender(s). For political reasons, the item was tabled and is scheduled (at least it has been discussed) to be brought forward again after the elections are over tomorrow. Stand by for an update !!!