This seminar will cover the pressing questions most homeowners have, including: Can I avoid foreclosure with a short sale? Do I qualify and what are the costs involved? What documents do I need to apply for a short sale? How does a short sale affect my credit? How soon can I buy another house? How can I protect my assets? What are the tax liabilities?
“In Nevada, your Lender can sue you for the remaining balance of your loan after a short sale or a foreclosure,”
With the expiration of the 2007 Mortgage Debt Relief Act at the end of 2012, the tax consequences for many homeowners will be uncertain in 2013. “The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.” -IRS.gov
In the challenging real estate market of Las Vegas, it is crucial to work with a team of trusted professionals with experience in short sale transactions. Over 70% of all homeowners are upside down in their homes and have a lot misinformation from people less than qualified to give advice. Get clear answers and learn how to protect yourself.
Please visit http://www.LVShortSaleAdvice.com to sign up for the free Las Vegas Short Sale Seminar or call 1-866-589-1646 for immediate help.
About Felipe Crook and Mark Minelli
Licensed Realtors since 2003 and 2004, Mark and Felipe have teamed up to help homeowners navigate the complicated real estate market in Las Vegas. Selling hundreds of homes over the last 9 years, this team of professionals is committed to excellent customer service and getting the best results for their clients. Coming from a place of service, their integrity and results are what set them apart from others.
Realty One Group
10750 W. Charleston Blvd Ste 180
Las Vegas, NV 89135
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Felipe Crook is a Realtor with Realty One Group, licensed since 2003 specializing in all aspect of residential real estate in Las Vegas including foreclosures, short sales, high rise condos, and luxury properties.