1 Articles match "Deficiency","Homes","Tampa"

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New Tax Law Spurs More Short Sales, Expert Says
For real estate investors looking for pre-foreclosure bargains, a new federal law could unleash a torrent of short sales as struggling borrowers facing foreclosure unload their over-mortgaged homes to avoid huge tax bills on capital gains. HR 3648 , or the Mortgage Forgiveness Debt Relief Act, signed by President George W. 20, helps people whose homes are in foreclosure by canceling taxes on any mortgage debt that has been forgiven by their lender. Bush on Dec. The government previously viewed the difference between the debt and the value of the home as taxable “income.”
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • The Best from RealtyTrac MORE
  • New Tax Law Spurs More Short Sales, Expert Says
    For real estate investors looking for pre-foreclosure bargains, a new federal law could unleash a torrent of short sales as struggling borrowers facing foreclosure unload their over-mortgaged homes to avoid huge tax bills on capital gains. HR 3648 , or the Mortgage Forgiveness Debt Relief Act, signed by President George W. 20, helps people whose homes are in foreclosure by canceling taxes on any mortgage debt that has been forgiven by their lender. Bush on Dec. The government previously viewed the difference between the debt and the value of the home as taxable “income.”
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE