Tax Relief on Forgiven Mortgage Debt is set to Expire on December 31, 2012. If you are a home owner and are considering a short sale or loan modification now is the time to act. Unless Congress and the California State legislature extend this tax break, mortgage principal that is forgiven in loan modifications and short sales will expire at the end of 2012.
While there is a good chance that Congress will extend mortgage debt relief tax break after the November elections, California home owners seeking a short sale or loan modification should seriously consider completing their transaction while the current tax relief provisions are in place and a sure thing. If you are looking to short sell your Orange County, CA home, I would be more than happy to assist you.
Ventana Coastal Properties is a leading real estate brokerage based in San Juan Capistrano providing free short sale services to home owners in the Orange County area. Call Broker David Grbich anytime at 949-500-0484 with your short sale questions or to list your home as a short sale. David Grbich is a Certified Distressed Property Expert and Orange County Short Sale Agent.
Comments (6)Subscribe to CommentsComment