Orange County Short Sale Specialist: Mortgage Forgiveness Debt Relief Act Anaheim California

Mortgage Forgiveness Debt Relief Act Anaheim California

SHORT SALE TIP

The Mortgage Forgiveness Debt Relief Act
 

If I sold my home at a loss and the remaining loan is forgiven,

does this constitute a cancellation of debt?

 

Does the Mortgage Forgiveness Debt Relief Act apply

to debt incurred to refinance a home?

 

Do you want answers to these types of questions?
The IRS speaks here.

Our next Short Sale Tip will address how California is handling this issue.

 

As always, we recommend that you consult with your accountant or attorney

to obtain advice as to how the information presented by the IRS will impact you.

2 comments • Carlos Morales • September 18 2009 12:05PM

Comments

Carlos, I agree with what you said 100%:

"...we recommend that you consult with your accountant or attorney to obtain advice as to how the information presented by the IRS will impact you."

Leilani

Posted by Souza Realty (CA - Roseville, Rocklin, Lincoln, Granite Bay) 11 months ago

This is important information for potential sellers to have as they decide what to do.

Posted by Christine Donovan Costa Mesa Real Estate Broker/Attorney 800-610-7253 DRE01267479 (Donovan Blatt Team - Donovan Group Realty) 11 months ago

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