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Short-Sellers, Act Now or Face Big Tax Bill Read more
The Mortgage Forgiveness Debt Relief Act hasn’t been extended yet, so this is of utmost importance to anyone involved in short sales to make sure that this act is extended. Realtors who do short sales and sellers considering doing a short sale should take a look at this BankRate.com article that I was fortunate enough to contribute to.

I truly encourage all real estate professionals and short sale sellers to start calling, writing, sending smoke signals, etc to their elected representatives to make sure that this is extended. It's so critical for many sellers that this is extended. We're talking about massive amounts of taxes being written off that make a huge difference in the seller's finances after the short sale closes. Be proactive, if you are in a short sale situation, start the process now.
 
Short-Sellers, Act Now or Face Big Tax Bill 

By Polyana da Costa • Bankrate.com
The tax clock is ticking for homeowners considering short sale and those facing foreclosure. If they don't officially get rid of their mortgages by the end of the year, they could receive jaw-dropping tax bills -- unless Congress acts soon.
 
The Mortgage Forgiveness Debt ... more

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