New Laws For California Realtors and Real Estate Investors With the housing market taking center stage among the nation’s concerns, both Congress and California’s State Legislature have enacted significant new laws affecting REALTORS and Real Estate investors. EMERGENCY ECONOMIC STABILIZATION ACT ($700 Billion Bail Out) Hope For Homeworker portal.hud.gov This bill also extends the tax exemption for debt forgiveness on home loans under the Mortgage Forgiveness Debt Relief Act of 2007 from …