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NEW TAX RULES FOR SHORT SALES – FORECLOSURES


Suzy explains the time tax consequenses of a short sale and how the newborn “Mortgage Forgiveness Debt Relief Act of 2007 HR 3648″ helps grouping trying to rank a short sale solon aggregation at: sccrealestateuncensored.com/2007/mortgage-forgiveness-debt-relief-act-2007/ micasamidinero.com/2007/mortgage-forgiveness-debt-relief-act-2007/

This entry was posted on Sunday, January 31st, 2010 at 8:10 am and is filed under Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

9 Responses to “NEW TAX RULES FOR SHORT SALES – FORECLOSURES”

  1. Sorry folks, you have been had, peed on, scammed and lied to.
    WallStreet is rigged and bailouts a fraud, market manipulations,
    high freqency trading, flash orders, naked short selling, on and on
    Goldman and Gov’t are in bed, they set the rules to benefit the few.
    Jobs been exported, your labor de-valued to Zero and screw you into debt.
    Walk away from your CC cards and (underwater) mortgage.
    FICO scores are a scam to enslave you and keep you in debt.
    Don’t be a sheeple. Protect Yourself

  2. CUT THE PRINCIPLES ACROSS THE BOARD, and send $25,000 to each homeowner who doesn’t have a mortgage. That will halt foreclosures in their tracks, underpin current home values, and begin to ease the pain the $10 TRILLION dollars in damage banks did to peoples savings and retirement resources. THEN STOP ELECTING LAWYERS TO PUBLIC OFFICE!

  3. Ms. Ortman is not completely correct regarding the debt relief tax on a primary residence. The law only affects an amount up to the original purchase loan or loans used to improve the property. If the property was refinanced and money taken out for other purposes, there can still be a tax for amounts in excess of those numbers. One must also be aware of the tax ramifications within the state, such as California, that has not passed an exclusion for 2009 and beyond at this time.

  4. My financial planner says to only listen to Orman to find out what NOT to do. HE believes she’s criminally incompetent and is hurting a lot of people.

    This particular video SEEMS fairly harmless, though. I’d always verify any of this information with a professional before proceeding.

  5. Very good information. I am a Real Estate Broker in upstate New York and I have successfully worked with a number of Short Sales over the 19 years I have been in business. There is nothing ideal or perfect about a Short Sale vs a seller keeping their home. I would much rather they keep their home. Short Sale and Foreclosure credit ramifications are about the same, but the timeframe for buying another home are a world apart. Morally, I work to do what is best for my clients.

  6. ShortSalesBuyers on January 31st, 2010 at 10:25 am

    the goverment understands that more and more people will face foreclosure….. and mortgage relief act for the difference has been extended till 12/31/2012 via the $700 billion bail out pkg

    Jeff

  7. ShortSalesBuyers on January 31st, 2010 at 10:25 am

    something like short sales or short pay is not the norm… thats why

  8. VERY GOOD VIDEO!!!

  9. This clip provides very good information. But at the same times proves that the entire Real Estate industry is a game that does not concern itself with morals. One after another, hidden, hard to find, cascades of rule and regulations backed by whimsical laws, every matter of trickery to fool and rob the consumer.