Just as an ounce of prevention can go a long way, so can getting a qualified tax consultation prior to making the decision to short sale, foreclose, or accepting a loan modification offer. Many struggling homeowners do not understand the enormous tax consequences that accompany these types of “taxable events” and end up being caught off-guard come tax season.
We can help!
With over 25 years of real estate tax law experience, we are there to help homeowners understand the best course of action pertaining to their specific financial situation.
Tax consequences that arise from short sale, foreclosure or loan modification need not be taken lightly and shouldn’t be ignored. Proper planning and understanding of what the tax ramifications are is an important part in long term financial recovery. Each homeowner’s circumstances are unique, therefore there are no cookie-cutter solutions.
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