Great News for Short Sale homeowners. Congress has extended the certain provisions of the Mortgage Forgiveness Debt Relief Act through the American Taxpayer Relief Act of 2012 until December 31, 2013. This act benefits qualified homeowners who may have otherwise owed taxes on forgiven debt after going through a short sale.
Homeowners will continue to receive their 1099-C forms. Please keep in mind that homeowners should always consult their tax adviser so they can evaluate their personal situation and understand their tax payments.
Call The Mary Neilson Team for all your Fort Myers, Cape Coral, Fort Myers Beach, Estero and Bonita Beach real estate needs. Foreclosure and short sale experienced. For more on the Team, visit www.maryneilson.com
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