Metro Detroit Short sales – how long do you have?
Metro Detroit Short sales – how long do you have?
Metro Detroit short sales completed prior to December 31, 2012 maybe granted a special tax relief on the primary mortgage debt. This makes owner occupant homeowners exempt from paying taxes on money forgiven ont he first mortgage of the primary residence. Now this only applies to your primary household.
If you are trying to do a short sale on an investment property or a second home this exemption would not apply. You could be liable for the taxes on the money forgiven by the bank. So time is running out on homeowners that want to do a short sale. Nobody knows for sure whether this tax forgiveness will be extended. We all hope it will be but it is up to Congress and the president to extend the law.
So if you are looking to do a short sale on your Metro Detroit home give me a call on my cell at (248)310-6239
My quote of the day is
“I am grateful for all of my problems. After each one was overcome, I became stronger and more able to meet those that were still to come. I grew in all my difficulties.”
-James Cash Penney
Search Metro Detroit foreclosures and homes
Do not let somebody else get the best home deals. Join my Foreclosure VIP club and get the newest lakefront foreclosures and the newest lakefront listings emailed to you daily.
Waterford Twp. Michigan All-Sports Lakes
All-Sports Lakes In White Lake Twp. Michigan
Why the banks take a lower cash offer on your West Bloomfield home
Did your bid really go in? Metro Detroit real estate information
Orchard Lake homes for sale Orchard Lake Michigan
[wnt_grid keyid=”1″ title=”Lake homes for sale in Oakland County MI” maptype=”disabled” ownertype=”all” paginated=”true” sortoptions=”true” maxresults=”50″ search_mode=”form” primarysearchtype=”active” searchtype=”city” state=”MI” single_family=”y” condo=”y” min_price=”100000″ max_price=”400000″ listing_status=”Active” county=”Oakland” has_waterfront=”Y” /]