mortgage forgiveness debt relief act Archives

Understanding The Tax Consequences Of The Mortgage Forgiveness Debt Relief Act

Tax Consequences

Over the past couple of weeks there have been numerous news stories, both local and national, citing real estate experts who suggest that if homeowners don’t sell this year, they could face big tax consequences because the Mortgage Forgiveness Debt Relief Act (MFDRA) will expire. If you are not familiar, the MFDRA was first enacted… Read More →

The Tax Implications From A Short Sale, Foreclosure

Short Sale - AZ Business Magazine January/February 2012

The truth of consequences: There can be tax implications from a short sale and foreclosure The only sure things in life are death and taxes. And like death, taxes can sometimes sneak up and surprise you. Some homeowners who have faced foreclosure or a short sale might be startled to learn that they may face… Read More →

Short Sales And Foreclosures: Income Tax Traps For The Unwary Homeowner

Income Tax Traps
by in Finance | Real Estate

Short Sales and Foreclosures: Income Tax Traps for the Unwary Homeowner by Stuart Pack, J.D. and Kelly C. Mooney, J.D., L.L.M. When considering a short sale, foreclosure or other strategic default under the terms of a mortgage or deed of trust, most homeowners and many professionals focus on the immediate concern of whether the transaction… Read More →