Helping Homeowners Avoid Foreclosure in Roseville and Sacramento

Alternative Options May Leave Mortgage Debt Relief Act Irrelevant For Some Homeowners

Posted on Dec 3, 2012 in Roseville and Sacramento Short Sale FAQs

Hello everyone my name is Mark Peek, your Roseville and Sacramento short sale specialist, thank you for your time today. I work with Keller Williams Realty in the Roseville and Sacramento area and use this blog to share valuable information with distressed property owners who need to sell their homes fast. If your mortgage is underwater or if you are struggling to make your mortgage payments each month please take a minute to browse my website or call me directly to learn more about your options.

For my blog today I wanted to talk with Roseville and Sacramento homeowners about the Mortgage Debt Relief Act that is set to expire soon and how it could alter your short sale. There has been a lot of chatter lately about this because we only have a month left for Congress to extend this great benefit for distressed property owners. The Mortgage Debt Relief Act allows a homeowner to avoid paying taxes on the difference between the selling price of the home and the balance due on the mortgage. This has saved numerous Roseville and Sacramento homeowners a lot of money but there may be similar options available past 2012. One option that many homeowners have used in the past is insolvency. If you currently have more debt than assets there is a good chance that you may be able to qualify for insolvency. If this is a possibility for you then contacting a CPA may be in your best interest. If insolvency is an option for you then the Mortgage Debt Relief Act is irrelevant.

If you have questions about your underwater mortgage or are ready to start your short sale please fill out a contact form on my website or call me today. Thank you for your time and I look forward to helping you soon with all of your Roseville and Sacramento real estate needs.

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