Buford Dacula Suwanee Short Sales and Pre Foreclosures Get the Roland Lorans TEAM to work for YOU - Time is Running Out

FOR IMMEDIATE RELEASE
Dacula, Georgia, United States of America (Free-Press-Release.com) February 14, 2012 --

If you’ve been thinking about doing a short sale on your Buford Dacula Suwanee Georgia home, you might want to hurry up. The time is limited for homeowners who want to ensure they aren’t hit with a big tax bill because they had to walk away from a mortgage obligation. The Mortgage Forgiveness Debt Relief Act is set to expire on December 31, 2012. At the height of the housing crisis, Congress passed the Mortgage Forgiveness Debt Relief Act of 2007, designed to provide some consolation to folks who had lost their homes. In summary, the Mortgage Forgiveness Debt Relief Act states that if you borrow money (up to $2 million dollars) from a bank or a commercial lender and the lender cancels or forgives the debt (a.k.a. Short Sale) then you are not responsible for paying taxes on the forgiven amount. This applies only to primary residences, NOT investment properties. The Mortgage Forgiveness and Debt Relief Act applies to debt forgiven in calendar years 2007 through 2012. It has not yet been determined if the Mortgage Forgiveness Act will be extended past 2012. Call Us today...
Roland Lorans Team
Keller Williams Realty
Chateau Elan
Village Way Suite 160
Braselton GA 30517
770-866-2561