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California Legislature approves tax break for people in foreclosures, short sales

Apr 8, 2010 8:31:00 PM - latimes.com
The measure, which is expected to be signed by Gov. Schwarzenegger, would waive state taxes on mortgage debt that has been forgiven in a foreclosure or short sale.

Thousands of Californians whose homes were foreclosed on or sold at a loss would get tax relief under a measure approved Thursday by the state Legislature.

USA, California: (Latest Stories)