Arizona Short Sale, Arizona Foreclosures, Arizona Foreclosure Laws

HURRY! ACT NOW!

Mortgage Forgiveness Debt Relief Act Expires in 2012

Time is running out for homeowners to short sale their home and avoid taxes!

Once expired you will need to pay taxes on forgiven debt.

For example if you owe $250,000 on your loan and your lender agrees to a $200,000 sales price, the $50,000 that is being forgiven would need to be counted as income on your tax return.

YOU WOULD THEN BE PAYING TAXES ON $50,000!

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