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Homeowners who sell their home through a short sale may owe income taxes on the amount that is forgiven them by their lender. It really does depend on some specific situations. I am not an accountant and I suggest you talk to an accountant about your specific situation but this is a brief overview of the issue. I’ve helped many home owners in Central New Jersey sell their home through a short sale when their mortgages were more than the value of their homes. If you need help, don’t know where to start or are considering a short sale, give me a call and we’ll meet and discuss your unique situation.
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Tags: Foreclosure, Income tax, nj short sale expert, Real estate, remax short sale exper nj, robbinsville short sale expert, short sale, short sale agent in mercer county, short sale agent in princeton junction nj, short sale realtor in hamilton nj
Posted In Short sales
This entry was posted on Wednesday, December 28th, 2011 at 12:49 pm and is filed under Short sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.