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TAX EXCLUSION FOR PRIMARY RESIDENCE DEBT FORGIVENESS SET TO EXPIRE

 

The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief. This provision applies to debt forgiven in calendar years 2007 through 2012. IF YOU ARE CONSIDERING A SHORT SALE OF YOUR PRIMARY RESIDENCE, YOU SHOULD TRY TO GET IT ACCOMPLISHED BEFORE THE END OF THE YEAR SO YOU DON’T HAVE TO PAY TAXES ON THE AMOUNT OF FORGIVEN DEBT. CALL WENDY ANDERSON AT (407) 628-9081 EXT. 111 FOR ASSISTANCE WITH YOUR SHORT SALE NEGOTIATIONS.
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Mailing Address:
P.O. Box 2164
Winter Park, Florida 32790

Office Address:
1353 Palmetto Avenue
Suite 200
Winter Park, Florida 32789

Phone:

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(407) 628-9085 fax

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Wendy Anderson | Richard H. Tami | Kristy L. Harrington

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We currently serve the following areas Central Florida, Orlando, Winter Park, Maitland, Altamonte Springs, Longwood, Sanford, Kissimmee, Orange County, Osceola County, Seminole County, Brevard County, Lake County, Volusia County. If you are looking for the best lawyer in bankruptcy, realestate, or foreclosure then call 407-628-9081. To learn more please download our free bankruptcy help guide with lots of information and questions answered.

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