Denver,CO – We are moving into the last year of the Mortgage Debt Forgiveness Bill, HB3648, that was put into place by the Bush Administration and extended by Obama's until Dec. 20th, 2012.You are asking WHY is this important?
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
One of the important issues of this HB, is that it allowed for the home loan borrowers to protect themselves from the "TAX Liability" on any deficiencies or outstanding debts incurred due to a short sale process.
Understand that it MAY NOT protect ALL home loan borrowers from the "tax liability", such as an investor that borrowed the funds to PURCHASE an investment property. You might need more assistance from your tax accountant to determine this
http://www.youtube.com/watch?v=Y5A0B9IKdPM&feature=related
Do not forget the implications of HB3648! Reminder for you, if you had performed a short sale closing in the year 2011, get with your attorney and tax accountant to take advantage of this law!
If you need to perform a short sale TODAY, to avoid or stop a foreclosure, get it done before the end of December 2012... or it might be too late!
We all want to avoid the immediate tax implications of a short pay-off deficiency and outstanding debt!
Thinking about a loan modification?Our Westminster loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Request your FREE copy, below!
Thanks for reading this, Dan Hopper.
View My homes for sale at www.danhopper.com.
Dan Hopper specializes in loan modification assistance and short sales in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.
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Important Notice
Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Dan Hopper's personal views and do not reflect the views of RE/MAX Alliance.
This information on Stop Foreclosure: Reminder for Mortgage Debt Forgiveness, HB3648!, is provided as a courtesy to our viewers to help them make informed decisions.
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