57 inquiries | Real Estate Brokers
(909) 795-5698
Company Rating
AAA
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This business is not a member of Business Consumer Alliance. This fact does not disparage the company in any way.
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Company Info
This company's business is offering assistance to homeowners facing foreclosure. The homeowner can allegedly avoid paying taxes to the IRS by deeding their property to the corporation.
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Licensing
We know of no licensing or registration requirement for companies engaged in this company's stated type of business.
BCA has no information regarding government actions at this time.
Some companies contract with individuals who have properties in forclosure for the claimed purpose of helping them avoid income tax lilability and negative credit reports. In general, the IRS will not recognize transactions intending to eliminate tax liability as a bona fide sale. In other words, The tax authorities may disregard a conveyance of property and press for payment of the taxes from the original owner. Furthermore, unless the mortgage company consents to an assumption of the loan, they will likely report a forclosure on the original homeowners credit report. We strongly suggest that anyone contemplating one of these types of transactions consult with a certified public accountant before making a decision.
We know of no other matter or practice relating to this company that may assist you in your consideration of this company.
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