Are You Concerned About Tax Ramifications In Doing A Short Sale?
Hi, I am Kevin Kauffman. I’m part of Group 46:10, one of the country’s top short sale and real estate groups located right here in Phoenix. Are you struggling to make your mortgage payments or are tired of being upside down on your mortgage? We at Group 46:10 can provide you with different alternatives to alleviate some of these problems. As one of the best short sale teams in the nation, we’ve finalized more than 500 short sales in the past 4 years and have a closure rate of over 90%.
I am here today to discuss short sales and tax ramifications. One of the worries that we hear quite frequently from potential clients is that they want to short sell their home, but are concerned about the taxes they’ll have to pay after the sale. Maybe you’ve heard from other homeowners that have done short sales that there were some tax liabilities and wish to find out more.
The Mortgage Debt Relief Forgiveness Act, which expires at the end of this year, permits homeowners, such as yourself, to not pay taxes on the forgiven amount if the house is their main residence and the selling price is less than $2.5million. If you’re thinking about short selling your home, you need to act quickly because the transaction would need to be finalized by the end of 2012 in order to qualify for The Mortgage Debt Relief Forgiveness Act.
Please call us or fill out the form on our website, group4610shortsale.com, to find out more about this act or if you have questions about your particular situation. If you don’t qualify for this act, don’t let that stop you from short selling your propety. We have a few other ways to avoid paying taxes as well. A skilled short sale expert, such as myself and my business partner Fred, can discuss those different options with you.
For more information on short sales and how to avoid foreclosure, visit the Group 46:10 blog or you can also contact the Group 46:10 team and get started today.
For more videos on short sales check out Kevin and Fred on the Short Sale Power Hour. Video for Short Sale Specialists.









Fred Weaver is a founding co-owner of Group 46:10. He has been working in the financing/real estate business for over 7 years. Fred began his real estate career by working for a large wholesale bank as a processor and rate/lock specialist for home mortgages. After 2 years in the business, Fred transferred from the banking side of home loans to the mortgage side. While on the mortgage side of financing, Fred gained experience originating mortgages and processing files for Morgan Capital of Arizona, Inc.
Kevin is a founding co-owner of Group 46:10. He began working in the real estate business in 2007 after spending 8 years working in the finance industry for companies such as Bank One, Green Tree Financial, & GE Capital.


