Tell your prospective short sale clients – time is crucial now
The Mortgage Debt Relief Act of 2007 is set to expire on December 31.
That means that if your clients short sell or go into foreclosure on or after January 1, 2013, they will be liable for Federal Income Tax on all the equity they lost in the housing crash.
It’s not bad enough to lose the home – they get to owe the Feds on top of it.
Congress could extend the Act – but so far there hasn’t been any talk of it in the news.
So do warn your potential clients – the time to list as a short sale is right now. We all know that even after a buyer is found, short sales take longer to close, so there really is no time to waste.
That’s why I wrote a letter and added it to my short sale letter set – and why I’m offering it to you, free of charge.
Click the button, enter your address, and the letter will be on it’s way to you in moments.