The Mortgage Forgiveness Debt Relief Act expired December 31, 2013. The Act prevented homeowners who go through a short sale or foreclosure from being taxed on the amount of their mortgage debt that has been forgiven. the debt that is forgiven is normally considered taxable income. The good news is there is still a wayContinue reading “Mortgage Forgiveness Debt Relief Act expired, what is the IRS “insolvency clause” and how could this help you?”
Tag Archives: real estate law
DON’T WAIT UNTIL ITS TOO LATE TO SAVE YOUR HOME!
Que es un Short Sale? What is a short sale?
LA DEFINICIÓN DE SHORT SALE, O VENTA CORTA, SEGÚN FANNIE MAE: “El proceso mediante el cual un administrador trabaja con un prestatario en mora para vender una vivienda a través de un profesional de bienes raíces antes de una venta por ejecución hipotecaria. La palabra corta (short) se refiere a que la suma obtenida por laContinue reading “Que es un Short Sale? What is a short sale?”
The Rios Law Firm 