Consumer e-Alert  \

October 14,2011

Knowledge is Power

The more knowledge you have-The more Powerful you are

 

 

IF YOUR HOUSE IS OVER ENCUMBERED THEN YOU SHOULD CONSIDER A SHORT SALE BEFORE DECEMBER 31, 2012

 FACTS

 

The Mortgage Debt Forgiveness Relief Act of 2007 has been extended to December 31, 2012.  If your home is over encumbered you should consider a short sale as an option.  When there is debt forgiveness it is ordinarily considered as income for which the lender issues a 1099.  However, if you are living in your principal residence and there is a short sale, there can be debt forgiveness up to $2 million for a married couple.  The short sale must close by December 31, 2012.

 MORAL

 

If you would like to know more then give me a call.  888-667-8529

 

If you would like an attorney from our firm to speak on a legal topic to your organization, at no cost to you, please contact me at 888-667-8529.  Our lectures on  the rights of consumers have  been received very warmly and are very informative to everyone that has attented. For information on the qualifications of Herman Thordsen as the speaker go to www.lendinglaw.com and review his biography.

 

  

THE INFORMATION CONTAINED HEREIN IS NOT LEGAL ADVICE.

AN ATTORNEY SHOULD BE CONSULTED IF YOU DESIRE LEGAL ADVICE

 

 

                                                                

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