Charlottesville Short Sales: Mortgage Forgiveness Debt Relief Act Extended

Charlottesville Short Sales: Mortgage Forgiveness Debt Relief Act Extended The Mortgage Forgiveness Debt Relief Act has been extended another year unil January 1, 2014. For those unfamiliar with the Mortgage Forgiveness Debt Relief Act of 2007, it allows certain taxpayers to exclude income from the discharge of debt on their primary residence. This includes debt that has been […]

What is a Charlottesville Short Sale?

A Charlottesville short sale is when a seller owes more on their home than what they can sell it for in today’s real estate market. The seller must negotiate with their lender(s) to accept a payoff less than the balance due on their mortgage(s). The seller still owns the home in a Charlottesville short sale […]