By Kimberly Miller Palm Beach Post Staff Writer Struggling Floridians have saved untold fortunes with a nearly five-year-old federal tax break that is about to go away. Since 2007, homeowners whose banks have forgiven unpaid mortgage debt after a short sale, principal reduction or foreclosure have not had to count that money as income on their tax returns. It’s meant savings of Continue Reading

New Medicare tax creates incentive for home sales Real Estate Tax Talk By Stephen Fishman Inman News® Share This The Patient Protection And Affordable Care Act ("Obamacare") will affect everyone in the United States one way or another. But some people will be affected more than others. Among these are high-income taxpayers. Starting in 2013, they will be subject to a brand new Medicare Continue Reading

218 Wedgewood Cir Greenacres, FL 33463 in Villages of Woodlake. Just sold last week. 3 bedroom 2 bath 1 car garage single family home for $142,000 cash. 6614 Belvedere Rd West Palm Beach, FL 33413. Just sold last week. 3 bedroom 2 bath 2 car garage single family home with a guest house on 1.8 acres for $202,000. 1171 SE Pinewood Lake Court Greenacres, FL 33415. Just sold last week. 3 Continue Reading

I just received a short sale approval from Home Financing Center. This turned out to be a very long process. They have 1 employee handling their short sale negotiations. That position changed 3 times throughout the process, which means we the process started over each time. Finally after 7 months under contract they asked the seller for a large promissory note and cash to close. After intense Continue Reading

City commissioners approved an amendment that would change the name of the city from Lake Worth to Lake Worth Beach. This will help distinguish the city from other unincorporated parts of Palm Beach County that have Lake Worth mailing addresses. The city would have to replace all the signs from Lake Worth to Lake Worth Beach Voters will have the final say on the November ballot. Continue Reading

I just received 4 short sale approvals this past week. 2 for Lake Worth homes, one for a Royal Palm Beach home and one for a West Palm Beach home. All the homeowners are receiving deficiency judgment waivers and 3 are receiving cash incentives from the lender at closing. Chase is offering a $35,000 and $20,000 incentive, Wells Fargo is offer a $3,000 HAFA incentive. The short sale process Continue Reading

Time is Running Out: How the Mortgage Debt Relief Act Can Save Your Home In 2007, the Mortgage Debt Relief Act was passed in an attempt to help the millions of homeowners who, due to the housing crisis and economic crash, suddenly found themselves in danger of losing their home to foreclosure. The act gave homeowners relief from the tax responsibility that accompanied forgiven debt or short Continue Reading

If you're looking for homes in beautiful Lake Worth, Florida, thanks for stopping by. You've found the best source for Lake Worth real estate listings, direct from a specialist in Lake Worth homes. Stick around and browse our easy-to-use navigation to find the Lake Worth home of  your dreams! Continue Reading