Short Sale May Increase Through Year End

With all the talk of the "fiscal cliff" in the news, you are probably reviewing the impacts of potential tax increases for 2013.   One result is that the soon to expire tax break for troubled homeowners is driving a spur in short sales. Currently, homeowners don't have to pay federal tax on the unpaid mortgage debt because of a bailout-era law known as the federal Mortgage Debt Forgiveness Act. Read more about the short sale jump at CNN Money.  Although the number of short sale homes (selling a home for less than the homeowner owes on their mortgage) in Boulder tend to be lower than the national average, there are opportunities in the area.  Contact me for information and opportunities on foreclosures and short sales in Boulder County.