GDP and Bankruptcy Data for San Diego – Chapter 7
The US Department of Commerce released Quarter 1 2012 GDP data and the American economy expanded by 2.2%. That number was in fact lower than what many economists predicted. When we take a closer look at some of the stats of the local economy we can also observe evidence of a recovery trend that’s slowly inching along. Below is a …
Read MoreExpiration of the Mortgage Forgiveness Debt Relief Act
Under Federal law, a financial institution is required to file a Form 1099-C with the IRS whenever it cancels or forgives a loan balance. In California, the canceled debt is treated as “income” for tax purposes. This can lead to a financial disaster for homeowners considering foreclosure or short-sale. The Mortgage Forgiveness Debt relief Act of 2007 (the “Act”) provided …
Read MoreThings to consider when choosing a guardian to name in your will
One of the most important decisions you can make to protect the your precious assets–your children–is to have a current legal will. And one of the most important component of your will will be picking a guardian. Here are some important tips to consider when selecting an appropriate guardian. Remember, this person will be parenting your children in the event …
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