The transaction includes about 123 loans and is expected to close by August
Refi activity also rose to 46.6% of total mortgage applications from 45.4%
The income tax consequences of foreclosure and short sales have been the subject of much interest due to the mortgage crisis. This article will provide an overview of the major Federal income tax issues. However, it is not intended to provide advice on specific situations. Rather it will help real estate and mortgage advisors become more valuable assets to their clients by better understanding when to refer borrowers for professional assistance.