Canton, MI homeowners involved in short sales have a common concern … the length of time required to successfully complete a short sale. There are many factors that affect the timing of the process.
Bittinger Team Shortens Canton Short Sales
Archives: December 2010
Do you owe income taxes on Short Sales or Foreclosures??
Many clients ask me if they will owe income taxes on a forgiven mortgage, either from a foreclosure or a short sale. Generally the answer is yes. The truth is, if a lender forgives any portion of your mortgage, the IRS generally calls that taxable income.