In 2007, the Mortgage Debt Relief Act was passed in an attempt to help the millions of homeowners who, due to the housing crisis and economic crash, suddenly found themselves in danger of losing their home to foreclosure.
The act gave homeowners relief from the tax responsibility that accompanied forgiven debt or short sales. Often, these taxes would be more than most distressed homeowners could afford.
At the end of 2012, the act will expire and homeowners will miss this once-in-a-lifetime chance to save themselves tens of thousands of dollars while freeing themselves from an unmanageable mortgage.
The clock is ticking, but there is still time to change your financial situation and avoid foreclosure. As a Certified Distressed Property Expert (CDPE), I am uniquely qualified to guide you through your options and help you find the right one for your situation.
Take a look around my site and read the free reports that are available. Write down any questions you have and then call me today for your free, confidential consultation.