Posted on March 25th, 2012
Hey guys, I am Kelly Cook right here with KC Real Estate Group, Arizona’s primary short sale specialists. We can be found online at www.azkcrealestategroup.com. We service and help householders all across the complete greater Phoenix, Arizona area and try to discover alternate options to foreclosures if they’re underwater and need to sell.
Today’s question that we’re addressing is will the mortgage forgiveness debt relief act expire any time soon, does it have a date where it should no longer be in effect? The primary a part of that question is what’s the mortgage forgiveness debt relief act? It is a piece of legislature that the Bush administration passed in 2007 that has already been extended once and that’s till December 31, 2012. That will have profound results on people who find themselves serious about doing a short sale on their property. Right now it is designed to remove the tax legal responsibility that could occur in a short sale or foreclosure. It’s meant not to kick people while they’re down and actually not put extra debt onto their load when they’re making an attempt to get out from beneath their debt.
So it is a very good piece of legislature that will definitely help a lot of people and has helped hundreds of people throughout the country already. So please don’t delay. If you’re eager about a short sale, then you definately positively wish to have your short sale close by December 31, 2012. Since a short sale can take so long as 12 months or longer, it could be very clever to start out right to not give yourself as much time as possible to get that short sale closed and accomplished by December 31, 2012. Once more guys this is Kelly Cook with the KC Real Estate Group, certainly one of Arizona’s number one short sale specialists. Please feel free to contact us right here on the website or e-mail us. You can even give us a call as a result of we can be found 24 hours a day, 7 days a week for your convenience. I look forward to hearing from you guys and we’ll see you on the next video. Goodbye
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