A few weeks ago I wrote about the "Mortgage Forgiveness Debt Relief Act of 2007".  (Scroll down to read more).  I've now included a link to an IRS webpage that has some Q&A that explains in more detail the Tax Ramifications of the Act.

Here is the link.

If you are in a Short Sale or pre-foreclosure position, we can help!!  Please give us a call!  Take our Short Sale primer at our website www.AyersTeam.com, scroll down and click on Short Sale.

Rich Ayers, e-PRO, ABR