Debt Forgiveness Act Extension Update


(Article courtesy of the Law Office of Atty. Steve Beede, Nov. 27, 2012)

Attorney Robert Enos of our office was on the phone today with the Office of Representative Charles Rangel (D-NY) concerning the status of the extension of the Debt Forgiveness Act. Rangel is Chairman of the U.S. House Banking and Finance Committee and is directly involved in the legislation to extend the Act as well as in the ongoing negotiations concerning the so-called “Fiscal Cliff ” (read more about this in my E-News tomorrow morning).

According to Rangle, there is a 98% chance of approval of extension of the Act at least through 2013. There are many Bills currently in play and there is widespread support for extension. So what is now being decided is what Bill to attach the extension to as a compromise is worked out between the House and Senate versions. He expects that a vote will be taken before Christmas. If not, we would expect a vote somewhere in early 2013 which would be retroactive to January 1st. I’ll follow-up with more info as it becomes available.

Meanwhile, if you have questions concerning political issues or the process please feel free to contact Rob at rjenos@bpelaw.com. Also, Rob serves on the Placer County Tax Assessor Appeals Board and is very knowledgeable on issues of valuation and taxation as well as all the real estate and business issues we deal with here at BPE Law.

Steve Beede

Purchase Properties without Investor Competition – HomePath's First Look Program

(Info taken from HomePath website, by FannieMae)


Fannie Mae’s innovative First Look marketing period contributes to neighborhood stabilization by encouraging home ownership. During this period, owner occupants who occupy the home as their primary residence, some non profits, and public entities and their partners can submit offers and purchase properties without competition from investor offers.

The First Look period is typically the first 15 days a property is listed on HomePath.com, except Nevada where it is 30 days. Properties within the First Look period include a countdown clock on the property details page, which displays the number of days remaining for negotiation with eligible purchasers.

Investor offers submitted after the expiration of the First Look period will be considered along with all other offers.

Ask a Fannie Mae listing broker for more details.

If you are concerned that the First Look marketing period is not being handled appropriately on a particular property, please contact the Fannie Mae Resource Center immediately at 1-800-732-6643.

Purchase Properties without Investor Competition – HomePath’s First Look Program

(Info taken from HomePath website, by FannieMae)


Fannie Mae’s innovative First Look marketing period contributes to neighborhood stabilization by encouraging home ownership. During this period, owner occupants who occupy the home as their primary residence, some non profits, and public entities and their partners can submit offers and purchase properties without competition from investor offers.

The First Look period is typically the first 15 days a property is listed on HomePath.com, except Nevada where it is 30 days. Properties within the First Look period include a countdown clock on the property details page, which displays the number of days remaining for negotiation with eligible purchasers.

Investor offers submitted after the expiration of the First Look period will be considered along with all other offers.

Ask a Fannie Mae listing broker for more details.

If you are concerned that the First Look marketing period is not being handled appropriately on a particular property, please contact the Fannie Mae Resource Center immediately at 1-800-732-6643.