steve hawks | Las Vegas Short Sales - Part 2

Debt Forgiveness Act | Steve Hawks | Las Vegas Short Sales

Steve Hawks | Las Vegas Short Sales Since 2007, homeowners whose banks have forgiven unpaid mortgage debt after a short sale, principal reduction or foreclosure have not had to count that money as income on their tax returns. It’s meant savings of tens of thousands of dollars on the so-called “phantom income” depending on the amount of debt canceled and a person’s tax bracket. But the...

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