Short Selling in 2013

By
Real Estate Broker/Owner with Turner Real Estate Group

Last week President Obama signed into law the controversial 'fiscal cliff' bill which included an extension of the Mortgage Forgiveness Debt Relief Act. This will extend till December 31, 2013. This includes Madisonville, Covington, Slidell and Mandeville real estate.

A nationwide initiative is being launched to help homeowners seeking to short sale their home and take advantage of this legislation. The mortgage debt relief act allows for home owners who live in their homes to short sale their St.Tammany real estate and have deficient amounts to not be considered and added to a home owner's income. This means you will not be given a 1099 therefore paying not taxes on these amounts. Here's a quick video that explains how Turner Real Estate Group can help.  For more on the recent changes to our local St.Tammany real estate market go to www.CallWayneTurner.com/blog

 

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Rainer
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Rick Perry
Realty World - Select - Stafford, VA
RickP

Informative article Wayne!  Thankfully, we can keep our economy moving in the right direction and as you are aware, real estate is the "hedge" that will keep us on sound growth track.  The mortgage deduction is a great incentive to so many of us homeowners.  Also, the extension for "short sales" will further fuel economic growth on many fronts.  Thanks again for sharing!  RickP.

Jan 08, 2013 06:30 AM #1
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Rainmaker
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Wayne Turner

"The Only Name You'll Ever Need for Real Estate"
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