I sure hope your home isn’t “under water” and that paying your mortgage isn’t a problem.
But if you have a relative, friend, or client who is facing difficulties, my new article makes “must” reading. You see, I’ll explain in easy-to-understand language how the tax law treats the foreclosure, short sale, or loan modification on a principal residence.
An unpleasant subject? For sure. But when it comes to these financial issues, what you don’t know can really hurt you! Get the facts in my new article titled Tax Tips: How Tax Law Treats the Foreclosure or Short Sale of Your Principal Residence?
IMPORTANT NOTE: This article deals with the disposition of a principal residence. Different rules apply to businesses and other real property. These rules will be discussed in future articles.
Three ways our fact-filled article can help you:
- We’ll quickly explain “the basics.” What’s the difference between a short sale and a foreclosure? Or the difference between a recourse and non-recourse loan? You’ll get straight answers when you read the full article.
- We’ll warn you about three traps that are easy to fall into. It’s sad but true. The tax law can kick you when you’re down. How? By setting traps that can cost you dearly. We’ll let you know what they are when you read the full article.
- We’ll provide you with three escape routes. Luckily, if you know what you’re doing, you can side-step the traps that the IRS sets. We’ll help keep you safe when you read the full article.