Foreclosure Prevention and Short Sale Information
Getting Started
Learn About Short Sales
  
What Is A Short Sale?
Short Sale vs. Foreclosure
Short Sale And Your Taxes
Access This E-book
Qualifying for a Short Sale and Avoiding Foreclosure
What Is My Home Worth?
Avoid Foreclosure
FAQ
Tips On Buying A Short Sale Property
Agent Partnership Program
FHA/HUD Short Sales
HAFA
Latest Short Sale Information
Holli McCray and John Verdeaux
Holli McCray and John Verdeaux - 865-454-2033

Short Sale And Your Taxes 

"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, qualifies as relief" (source: irs.gov)

  

Mortgage Forgiveness Debt Refief Act Info
Click on this link to obtain a breakdown of this Act and how it pertains to your situation.
Click on the link above to get access to Form 982.  Contact your accountant about how you can use this form to your benefit when you do a short sale on investment properties of second homes.

HOME BUYER TAX CREDIT: Email us at info@knoxvilleforeclosurehelp.com to get information on how a short sale works for someone who received the Home Buyer Tax Credit. 

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Don't Just Walk Away! You Have Options!

Brought to you by:

The Holli McCray Group
Keller Williams Realty
5616 Kingston Pike, Suite 201
Knoxville, TN 37919
865-291-0355, Option 4
Email
* Each Keller Williams office is independently owned and operated.





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Copyright© 2009- Pro Step Marketing, All Rights Reserved.

Disclaimer: The information provided on this website should not be constituted as legal advice. The content is intended to provide general information about the short sale and foreclosure processes, and should not be acted upon without the counsel of a qualified REALTOR®, attorney, and tax expert.

Important Notice:

You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, our commission comes from the proceeds of the sale and is based on a percentage of the purchase price that is approved by the seller's mortgage holder.

 

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