Comments on: Mortgage Debt Relief Act of 2007 – Lenders approved short sale, How do I ensure I don’t pay taxes? http://asapdebthelp.com/2010/01/debt-relief/mortgage-debt-relief-act-of-2007-lenders-approved-short-sale-how-do-i-ensure-i-dont-pay-taxes/ Information about getting help handling debt Tue, 02 Feb 2010 21:38:04 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: ceppym http://asapdebthelp.com/2010/01/debt-relief/mortgage-debt-relief-act-of-2007-lenders-approved-short-sale-how-do-i-ensure-i-dont-pay-taxes/comment-page-1/#comment-1480 ceppym Mon, 25 Jan 2010 06:48:01 +0000 http://asapdebthelp.com/2010/01/debt-relief/mortgage-debt-relief-act-of-2007-lenders-approved-short-sale-how-do-i-ensure-i-dont-pay-taxes/#comment-1480 <a href="---"></a> 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

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

]]> By: acermill http://asapdebthelp.com/2010/01/debt-relief/mortgage-debt-relief-act-of-2007-lenders-approved-short-sale-how-do-i-ensure-i-dont-pay-taxes/comment-page-1/#comment-1479 acermill Fri, 22 Jan 2010 12:19:04 +0000 http://asapdebthelp.com/2010/01/debt-relief/mortgage-debt-relief-act-of-2007-lenders-approved-short-sale-how-do-i-ensure-i-dont-pay-taxes/#comment-1479 <a href="---"></a> Everything you need to answer your question can be found at the supplied URL.

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

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