Colorado Springs Real Estate

Colorado Springs Real Estate Blog

Daily Archives: December 24, 2009

Short Sales: Will you have to pay the Phantom Tax?

Posted on December 24, 2009 by Patricia

The Mortgage Forgiveness Debt Relief Act was passed in 2007 to protect distressed homeowners from being taxed by the IRS on the debt that was canceled by the lender on the short sale of their home. Prior to the bill … Continue reading →

Posted in Selling, Short Sales | Tagged avoiding foreclosure, colorado springs homes, colorado springs real estate, distressed homeowners, mortgage forgiveness debt relief act of 2007, short sales | Leave a comment

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Colorado Springs Real Estate

Colorado Springs Real Estate Blog

Daily Archives: December 24, 2009

Short Sales: Will you have to pay the Phantom Tax?

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