Good News! Debt Relief Act Of 2007 Has Been Extended!

571-285-4319 www.VARealEstateExperts.com
Claudia S. Nelson Realtor with Keller Williams Realty

Excellent News for anyone currently participating in a Short Sale or planing to engage in a short sale in 2013 the Mortgage Forgiveness Debt Relief Act of 2007 has been extended.

The Mortgage Forgiveness Debt Relief Act of 2007 allows anyone who participated in a short sale to be relieved of having to pay income taxes on the amount forgiven by their lender. Without the Debt Relief Act extended, home owners that are selling their homes as a short sale would have to pay taxes on the forgiven balance. The Debt Relief Act generally applies for a principal residence.

I am very happy for all my clients that are currently going through a short sale as this means they do not have to pay taxes on the amount forgiven by the bank. I have several clients that started a short sale last year and were worried about the expiration of the Debt Relief Act. I can't wait to tell them the good news.

For more information about the Debt Relief Act and if it will apply to you, you should consult a tax attorney or CPA. The Debt Relief Act may not apply to everyone.

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I live and work in Woodbridge Virginia and service all of Woodbridge Virginia and surrounding area.

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Claudia S. Nelson

Keller Williams Realty

I'd like to share a real estate industry secret with you....

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My real estate business wouldn’t exist without referrals from good people like you! It’s true…without your help, I might as well lock the doors to my office and go home. I know that I have to earn the trust of each and every one of my clients. I hope that I’ve earned your trust and that you’ll remember my name first whenever someone you know needs to buy or sell a home! Thank you again.