Click HERE to access a recent publication from the IRS that highlights some of the details of the Mortgage Debt Forgiveness Act. This is a must-read for those considering a short sale to sell their homes.
"If you are a homeowner whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income."
** Click HERE to find out if you qualify for a short sale in the Greater Knoxville, Tennessee area. **