AZ Short Sale Seminar - Taxes and MARS Ruling
The Federal Trade Commission ("FTC") has issued a final rule that may impact real estate professionals who represent clients involved in a short sale transaction. Depending on certain factors, the rules may require real estate professionals to make certain disclosures to consumers if they negotiate a short sale with a lender, advertise short sales experience, or take upfront fees from short sale sellers. The MARS rules took full effect on January 31, 2011.
· What is the MARS ruling and how can you protect myself from getting fined $11,000 per day?
· What licenses are required to negotiate a short sale?
· Does a broker/salesperson negotiating a short sale with a lender or servicer on behalf of the seller have to comply with the Federal Trade Commission's Mortgage Assistance Relief Services ("MARS") Ruling?
· What are the tax consequences for short selling a 
primary residence, second home or an investment property?
· What is insolvency and how can it benefit someone with a $100,000 tax liability?
· Find out the answers to these questions and much more!!!
Please mark your calendars for Tuesday, March 22nd at 10:00am.
Guest Speakers - Patricia Lloyd, C.P.A. & Todd J Sullivan, JD manages the Attorney Negotiated Short Sales legal division for Owens & Perkins will discuss the implications of short sales, as well as the new MARS ruling.
Location: Keller Williams Northeast Realty Training Room - 21410 North 19th Avenue, Suite 131, Phoenix, AZ 85027
RSVP to me at david@dkhomeloans.com, if you would like to attend.
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