As we approach the tax filing deadline, the Internal Revenue Service is reminding taxpayers that any canceled debt following a short sale, foreclosure or restructuring of a mortgage must be treated as taxable income unless you qualify for an exemption.  In general, when a creditor cancels debt, such as unpaid balances on student loans or credit cards, the…

The National Association of Realtors® (NAR) issued a legal memorandum confirming that all real estate professionals working on short sales are required to make specific disclosures under new federal regulations. NAR’s statement came in response to the Mortgage Assistance…

Are Realtors Who Work On Short Sales Subject To The FTC MARS Ruling?

As a real estate professional that exclusively handles Massachusetts short…