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Hollister Short Sales: Mortgage Debt Forgiveness extended
Hollister CA – Congress has reached a settlement which extended the Mortgage Forgiveness Debt Relief Act another year.

The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction) or foreclosure.

“Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers. These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000. The thresholds have been increased and are indexed for inflation so will rise over time. Under the formula, filers gradually lose the value of their total itemized deductions up to a total of a 20% reduction.

The reinstitution of these limits has far less impact on the mortgage interest deduction (MID) than a hard dollar deduction cap, percentage deduction cap, or reduction of the amount of MID that can be claimed.

Capital gains rates on the sale of principal residences will remain unchanged and continues to exclude the first $250,000 for single taxpayers and $500,000 for married couples.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

I can help you short sale your property and get back on your feet. Send me an e-mail at israel@ighomes.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (831) 636-8858 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Hollister loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Israel Gonzalez.

Israel is a Real Estate Agent at Beale Properties. Hollister Short Sales Realtor:

Phone: (831) 636-8858. israel@ighomes.com.

View My homes for sale at www.bestREOhomes.com. Israel Gonzalez specializes in loan modification assistance and short sales in Hollister California. Hollister Loan Modification Help, Hollister Short Sales. Hollister Short Sale Realtor Hollister CA Short Sales. Hollister Realtor.

Important Notice

Israel Gonzalez, Beale Properties, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Israel's personal views and do not reflect the views of Beale Properties.


This information on Hollister Short Sales: How To Get A Short Sale Lender To Waive A Deficiency is provided as a courtesy to our viewers to help them make informed decisions.

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