Hi there, this is Shawn Polston with TucsonShortSaleNegotiator.com and Keller Williams Realty in Tucson, I’ve got some great news for homeowners today. Our leaders in Washington have decided to extend the Mortgage Debt Forgiveness Act for another year, so it’ll be around until the end of 2013. Given the timing involved in closing most short sales, it could be anywhere from three months to nine months, I strongly suggest that if you’re considering a short sale and you want to take advantage of the Mortgage Debt Forgiveness Act you probably don’t want to wait to get the short sale process started. It may not get extended again and even this year it took a couple of days into the year to get the job done. If you are curious whether the Mortgage Debt Forgiveness Act applies to you, we can help you figure that out with the help of a CPA.
If you have any questions, please feel free to pick up the phone and give us a call or fill out the short sale form on our website and we’ll be in touch with you soon. I’d also like to encourage you to check out our Short Sale Calculator. It can help you determine whether or not a short sale is the best financial decision for you as well as provide you with your property value. It’s very easy to use, all you have to do is enter in some of your basic mortgage information, such as interest rate, remaining principal balance and monthly mortgage payment as well as your property address. You’ll receive an email instantly outlining how much time and money it will take for your home to break even. It’s a very useful tool that a lot of homeowners in Tucson are using, so I’d like to remind you again to take advantage of this free tool on my website. Thanks again for joining me today at TucsonShortSaleNegotiator.com.