What happens to my credit after a short sale?
- The loan appears on your credit report as “settled”
- You can buy a home two years after a short sale
- After a foreclosure, you may have to wait seven years before you can buy a home
What are the tax consequences of a short sale?
- Until the end of 2013, most mortgage debt forgiveness is tax-free!
- The Mortgage Forgiveness Debt Relief Act expires at the end of 2013, so time is running out!
- Beginning in January 2014, mortgage debt forgiveness will be taxable once again.
Let us help!
- Call 866-559-8546 or email us with a question. We’ll help you figure it out!
- We offer a complimentary consultation
- We’ll work with your bank and take care of the paperwork
- We will never ask you for money. Our commission is paid when your home has sold!