Posted almost 12 years ago

Short Sales Specialist in Prince George County Maryland | Tax Implications

Short Sales Specialist in Prince George County Maryland

The tax implications of a short sale ? . .

The 1099-C after a short sale. .what's that?

The IRS sees any money to help you settle a debt as taxable?

The same money the lender is writing it off from your loan amount when you sell.

This could be significant amount after a short sale

Can this be averted?

The Debt Relief Act of 2007 changed that for many homeowners . .

except, it expired at the end of 2012

then

It was revived and extended for one more year

A lot of people will be helped by the Debt Relief Act . .

You have until December 2013

and then is gone!

Do you have a negative equity in your home?

Are you really a homeowner. . or just a mortgage owner?

Should you wait until your home's value catches up with what you owe to the bank to be in the green again. .

or should you go ahead and start afresh again?

Considering a short sale? -- In this video you will find important information about the reason why you may consider doing a short sale and take advantage of the Debt Relief Act that protects your from paying taxes on debt forgiven

I invite you to watch our FACT SERIES VIDEOS to learn all about short sales This following video answers the question about . .

"The Tax Implications of a Short Sale"

These videos are intended to provide the latest information to sellers during the process of a short sale.This is our attempt to teach you everything we've learned about short sales, the process and your role as a homeowners during a short sales.

We believe an informed homeowner is easier to assist from the very beginning and your understanding of the process could benefit you in making the right decisions.

"A Short Sale is the sale of real estate in which the sale proceeds is less than the balance owed on the property's loan. .. and the lender forgiving the debt in order for the homeowner to avoid foreclosure"

If you or someone you care about are currently facing mortgage difficulty, please share these VIDEOS BELOW,

I also encourage to bypass all these and ask about our FREE DIRECT CONSULTATION about your particular case. . and remember, peace of mind is ALWAYS the best outcome from a short sale!