Friday, March 12, 2010 11:42am PST
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SmallHouse.jpg(From the AP) California residents who sell their homes in “short sales” would avoid a tax bite under a bill approved by the state Legislature. Short sales are when a homeowner sells for less than what is owed to the bank. The bill makes clear that home sellers do not have to count as income the money their lenders forgive on outstanding loans. (more…)

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