General information, not legal or tax advice. Sidney works alongside your attorney and CPA. Rules as of October 15, 2026; they change, so check the official sources listed below.
When selling in Temple City, does a short sale create a tax bill?
Forgiven mortgage debt can count as income for a Temple City seller; IRS Publication 4681 notes the principal-residence exclusion ended for discharges after 2025 (IRS Publication 4681); California treatment is separate, and the Franchise Tax Board explains its own rules on its mortgage-forgiveness page (Franchise Tax Board). A Temple City seller should involve a CPA early on the federal and California tax side, because nothing here is tax advice.
In Temple City, a charter city, what do second mortgages and HOA dues add to the file?
Junior lenders each sign off separately; the second loan holder often asks for part of the proceeds; if the property is in an HOA, past-due dues show up in escrow and on the net sheet; order the HOA demand in the first week.
For a Temple City homeowner, what does a short sale do to credit?
How a short sale is reported varies by lender and by file, so no score is predicted here for a Temple City seller; a HUD-approved counselor can explain how each path is typically reported for someone in your position (CFPB lookup: consumerfinance.gov).
When selling in Temple City, can the trustee sale proceed during a short-sale review?
Review and foreclosure can run side by side on a Temple City loan; ask the servicer in writing for a postponement (Civil Code §2924f); a complete package on day one gives the review the most room. If a Notice of Default has recorded, the foreclosure help guide for Temple City shows the timeline.
On a Temple City sale, how does Sidney run a short sale from listing to approval?
Sidney Manzo (in real estate since 1990) sets the price of a Temple City short sale from recent sales nearby and lists it on the open market, then sends each lender a complete package with the offer. Background that buyers notice — in the County's '88 Cities, Incorporation and Population' list, Temple City has been a city since May 25, 1960 and is a charter city in LA County Supervisorial District 5, estimated at 35,983 residents on January 1, 2025 (file.lacounty.gov). Offers are presented with the lender's review in mind; prep, pricing and the listing process across the city are on the Temple City home-selling page. Lender approval in Temple City follows the statewide steps in the California short sale overview.
On a Temple City sale, who should review a short sale besides the agent?
Start with a HUD-approved housing counselor, who can compare a modification with a short sale, and the CFPB lists nearby agencies by ZIP (consumerfinance.gov); bring in an attorney and a CPA before accepting terms. When repairs are not realistic, as-is selling in Temple City avoids repair delays; if the property was inherited, the Temple City inherited-home page explains the steps for heirs.
In Temple City, a charter city, is the home a fit for a short sale?
A short sale makes sense when the Temple City house would sell for less than the loans and a documented hardship explains why; approval is never promised; each lender decides on its own review. A free Temple City valuation puts the likely price beside the payoff.
In Temple City, a charter city, which documents does a lender need for a short sale?
The lender reviews the hardship documents, the signed offer and a net sheet, and the offer is compared with the lender's own valuation. A Temple City item that belongs in the lender file up front — a sale in Temple City owes just the County's documentary transfer tax at $1.10 per $1,000, which is $0.55 per $500, since Temple City is not among the five cities the Registrar-Recorder shows with their own rate (Culver City, Los Angeles, Pomona, Redondo Beach, Santa Monica) (lavote.gov). The net sheet lists every cost that reduces what the loan holder receives, the transfer tax among them.
Can Ordinance 11-949 slow approval of a Temple City short sale?
A few Temple City items add steps to a short sale, so check them up front; one Temple City item to settle before the lender's valuation up front — Temple City Ordinance 11-949 requires the owner or trustee to register a vacant or abandoned property within 10 days of it being determined vacant, with a $160 fee ($38 registration + $122 inspection), renewed annually; Community Preservation, 9701 Las Tunas Drive (templecityca.gov). Before approval arrives, keep in mind early — Temple City protects native California oaks on private property; an arborist evaluates pruning or removal and any permit needed (Urban Forestry FAQ) (templecityca.gov). In a short-sale file, keep in mind — Temple City issues Yard Sale Permits (City page), relevant to an estate clean-out sale (templecityca.gov).
Last reviewed by Sidney Manzo · About Sidney
Questions
What do Temple City owners ask?
- As a Temple City seller, do I have to register my house if I move out before the sale?
- Yes once it is determined vacant — register within 10 days and pay $160 under Ordinance 11-949, a point Sidney flags for the lender reviewer. Community Preservation on Las Tunas Drive handles the registration.
- In Temple City, a charter city, can I short sell my home if I'm not behind yet?
- It depends on the lender; for a Temple City owner who is current, many lenders require a documented hardship rather than a missed payment; a counselor can help a Temple City owner document the hardship for free.
- In Temple City, how many weeks does a short-sale approval take?
- There is no set time; the lenders and the lien count set the pace, and no date is certain. The Temple City escrow schedule follows the approval letter, not the other way around.
- In Temple City, a charter city, does a short sale leave me owing the difference?
- Usually not, and Temple City's charter does not change that state rule: after a lender-approved short sale of a one-to-four-unit residence, a deficiency claim is generally barred by Code of Civil Procedure section 580e; ask an attorney to check the Temple City approval wording before you sign.
- As a Temple City owner, do I owe taxes on the forgiven amount?
- It can happen. IRS Publication 4681 says the principal-residence exclusion does not apply after December 31, 2025; state treatment is separate (FTB), and a CPA should check any 1099-C for the Temple City sale, since this is not tax advice.
- In Temple City, a charter city, does a second loan block a short sale?
- One more loan holder — a HELOC or second loan needs its own written approval, and junior lenders may ask for a payment or other terms. Two lenders reviewing the same Temple City file can take longer, so each gets the package on the same day.
Sources
Sources
- LA County Registrar-Recorder: documentary transfer tax (accessed October 15, 2026)
- templecityca.gov: Temple City Ordinance 11-949 requires the owner or trustee… (accessed October 15, 2026)
- County of Los Angeles: 88 Cities, Incorporation and Population (accessed October 15, 2026)
- templecityca.gov: Temple City protects native California oaks on private property… (accessed October 15, 2026)
- templecityca.gov: Temple City issues Yard Sale Permits, relevant to an… (accessed October 15, 2026)
- California Civil Code §2924 (accessed October 15, 2026)
- California Civil Code §2924f (accessed October 15, 2026)
- CFPB: Find a housing counselor (accessed October 15, 2026)
- IRS Publication 4681 (accessed October 15, 2026)
- Franchise Tax Board: Mortgage forgiveness debt relief (accessed October 15, 2026)
Your agent
Who reviews your home?
Sidney Manzo, Agent, CA DRE #01108914.
- In real estate since 1990
- 155+ closed sales
- RE/MAX Hall of Fame
- Member, Pasadena Association of REALTORS® and C.A.R.
RE/MAX Dream Properties (ASLG Inc), CA DRE #02142193
Last reviewed by Sidney Manzo.