Can't Afford to Pay Mortgage, Having Financial Hardship? Short Sale (Santa Cruz ) in Santa Cruz, California For Sale
Type: Real Estate, For Sale - Private.
ATTENTION DISTRESSED HOMEOWNERS: If you can no longer afford to pay your mortgage, you might want to act now before it's too late.
Here's why:
1. The Mortgage Debt Relief Act of xxxx is set to expire at the end of xxxx
2. This act states that if you sell your primary residence as a short sale or it is foreclosed, then there is no federal tax liability to you. You would normally pay capital gain tax on the difference between what you owe on the property and what the bank was paid back after the short sale or foreclosure, but under this debt forgiveness act you owe no taxes.
3. Starting from xxxx, there will be taxes owed on your home that is foreclosed or sold as a short sale.
If your home is underwater and/or you cannot pay your mortgage, you need to act quickly. Don't be stuck with losing your home and then still owe taxes on it which you may have to pay.
You are not alone. I am here to help in any way I can.
Noel Foster
DRE xxxxxxxx
Authentic Real Estate
831-334-xxxx