Tuesday, June 5, 2012

short sales may go away

Could short sales disappear at the end of this year?
A big tax break for homeowners short selling their house is set to disappear in six months. It's the 2007 Mortgage Forgiveness Debt Relief Act, and experts said if you want to short sell your home, you should act fast. If the Act goes away, short sellers would have to pay taxes the dollar difference between what your mortgage is and what their home sells for.
Read article - KPHO.com

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