Does the Mortgage Forgiveness Debt Relief Act apply to investment property?
You need to be a member of Short Sale Superstars to add comments!
This reply was deleted.
Does the Mortgage Forgiveness Debt Relief Act apply to investment property?
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
************************
Replies
This is a question best answered by a CPA but the short answer is possibly...but they want to ask about "insolvency" See attached: http://www.irs.gov/individuals/article/0,,id=179414,00.html/
the MDFRA does not apply to an investment property but there is other relief for an investor....there is relief from the tax ramifications and the credit issues....but many situations are different but there is almost certainly some relief for your client
Paddy Deighan Esq