2 Responses to “Mortgage Debt Relief Act of 2007 – Lenders approved short sale, How do I ensure I don’t pay taxes?”

1. acermill on January 22nd, 2010 12:19 pm

   Everything you need to answer your question can be found at the supplied URL.

2. ceppym on January 25th, 2010 6:48 am

   Your best bet is to use a QUALIFIED accountant, who is very well informed of the intricacies of the 1099C’s that you will receive and how to use the MDRA of 07 as protection. I would not recommend trying to do it yourself, as you may end up being liable for well over $150k in income, as the $145 is only the sale price, not the net to the lenders. Good luck

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