The Debt Relief act is coming to a close for Short Sale Sellers

    All “good” things must come to an end. So is the Mortgage Debt Relief Act. Unless renewed, at the end of 2012 – it will stop serving it’s purpose. That purpose is to allow for “debt relief” for everyone that Short Sales their real estate “correctly”.

    In most cases, if our short sale clients home sold for $200,000 less than the amount owed – they are exempt to pay income tax on the difference.

    That was not the case before 2007 when the debt relief act became law. But, as with all great programs, this one came with a expiration date.

    December 31, 2012 🙁

    Here is what you need to do. Contact a Short Sale professional before you do it alone. Santa Clarita Short Sale experts are at your call.

    Trackback from your site.

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

    Leave a Reply

    Contact Us Now

    Any questions, comments, or feedback

    SCVnest Radio Show (listen now)