The late night deal to avert the "fiscal cliff" included an extension of the 2007 Mortgage Forgiveness Debt Relief Act which was to expire on 12/31/2012.? The relief act's extension was crucial to the recovering housing market.??
Basically, what this means is homeowners doing a short sale will not have to pay income taxes on the forgiven debt as long as they close by 12/31/2013.
If you are interested in doing a short sale, call my office.? We offer FREE legal representation for homeowners thinking about doing a short sale.? It is also possible we may be able to get some relocation assistance for you ($3,000 or more) at the closing.
Posted by Bradford Miller Law, P.C.
A Law Firm Dedicated To Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
312-238-9298
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, short sale attorney Chicago. This is intended to be advertising.? Please consult with an attorney before acting on any information given here.
?Source: http://chicagorealestatelawyers.blogspot.com/2013/01/mortgage-forgiveness-act-extended-until.html
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