BOCA RATON, FL (BocaNewsNow.com) — The Palm Beach County Clerk and Comptroller, Sharon Bock, is hoping to help Palm Beach County homeowners facing foreclosure but reviewing the “Mortgage Debt Forgiveness Act of 2007.” If you believe you could benefit from the Act, read on to learn when and where Bock will be hosting a public forum.
We’re halfway into 2012 and have 6 more months before the Mortgage Debt Forgiveness Act of 2007 expires at the end of the year. The act forgives tax debt on short sales completed on principal residences before 2013. There’s no guarantee the terms of the act will be extended past their expiration date, and homeowners who are considering a short sale are advised to start sooner rather than later. In order to qualify, the short sale must be completed before the end of 2013 so the process should be started as early as possible.
The Mortgage Debt Forgiveness Act is a great incentive for homeowners to list their homes NOW and an excellent tool for Realtors working with homeowners who are “on the fence” about doing a short sale. Six months flies by after listing the home, finding a buyer, compiling the short sale package, negotiating with the lender and closing!
Attend the Free Avoiding Foreclosure Seminar with Palm Beach County Clerk of the Courts Sharon Bock, Monday June 18 6 to 8 p.m. Lakeside Terrace, 7880 Glades Road(at the Turnpike behind City Fish Market) RSVP to561.945.0000. Refreshments will be served.
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