SHORT SALE - DEBT FORGIVENESS ACT - PENDING

The end of 2012 is rapidly approaching and Banks are expressing they are doing everything they can to close short sales in a timely manner.  Their goal is to help as many homeowners as possible complete their short sales this year.  Some of you may be aware that the Mortgage Forgiveness Debt Relief Act is expiring at the end of the year if it is not extended.  We in the real estate business as well as the banking industry hope Congress extends the bill to help distressed homeowners and are monitoring the situation and will notify the readers of this blog once a decision has been made. 

Please keep in mind that homeowners should consult their tax adviser to understand the tax implications related to the short sale of their property.

Scott Hopper - Realtor, 530-477-2277

"If you enjoy reading my blog, please keep me in mind when you or a friend needs a real estate professional"