Kalamazoo Real Estate – We have reposted an article prepared by the National Association of REALTORS regarding the mortgage debt cancellation. If you have or will likely have a short sale or foreclosure, it it important to read this information. Remember that the Veenstra Team provides free help to sellers who need to short sell. Call us at 269-350-5514 or check out more about our short sale services here.
Does the mortgage debt cancellation relief only apply to the sale?
Can the homeowners in a short sale or foreclosure claim a loss?
What happens to the seller when a mortgage debt is forgiven?
Does mortgage debt cancellation provision apply to a refinanced mortgage?
How does the homeowner get corrected informtaion to the IRS?
What if a property declines in value while the owner stays in the house?
Do all lenders forgive mortgage debt when property values decline or if the home is in foreclosure?
Thanks for reading!
Your Kalamazoo Realtors
David Veenstra, REALTOR
Jason Veenstra, REALTOR
We also have a great SW MI commercial REALTOR partner, Jeremy Veenstra with NAI Wisinski. You can call him at (616) 242-1105.