Archive for July, 2011

FTC WILL NOT ENFORCE MARS AGAINST REALTORS®

As another major victory for REALTORS®, the Federal Trade Commission (FTC) announced today that it will generally not enforce the Mortgage Assistance Relief Services (MARS) Rule against real estate brokers and agents engaged in short sales.  Real estate professionals must nevertheless comply with MARS prohibitions against misrepresentations and other laws prohibiting unfair and deceptive acts.  […]

IRS and CA Franchise Tax Board clarify mortgage debt

December 4, 2013 IRS and California Franchise Tax Board declare California distressed home sellers not liable for federal or state income tax on short sales LOS ANGELES (Dec. 4) – The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) announced today it received a letter from the California Franchise Tax Board (FTB), obtained by Board of Equalization (BOE) […]