Sunday, October 20, 2013
Doom and Gloom vs. Joy and Recovery
I was recently asked about my "doom and gloom" post on CarsonNow.org. The post read "You need to sell your home before Dec 31st because the law to protect you from the IRS may or may not be extended again this year. Call me today".
underwater on his home nor facing financial hard-ship.
A person who is upside down on their home and hoping to sell their home to get out from under a payment they can no longer afford, might view this post as "joy and recovery".
The Mortgage Debt Relief Act of 2007 exempts some homeowners from paying income taxes after a home goes into foreclosure or short sale. This law is set to expire on December 31, 2013. We hope Congress will pass the extension this year but no one can guarantee this will happen.
This is extremely important if you are considering selling your home. It's a very easy process and time is of the essence at this time of year. Contact me today to discuss your options to get you right side up.
* Eliminate your debt !
* Avoid deficiency judgment !
* Avoid the federal tax !
*Get relocation money !
* Stay in your home until it SELLS !
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