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By: Atlanta Homebuyers Realty Group Homeowners that have already received a foreclosure notification with a scheduled foreclosure date should act quickly. Homeowners that are currently delinquent on their mortgage payments are sometimes not aware of the available options. The short sale process is very tedious and requires the assistance of an experience short sale broker. The entire short sale approval process can take 3-6 months and sometimes longer depending on the lender. When sellers decide to short sale, sellers often want to know about the tax liability associated with a this option. Sellers believe they will be held responsible for the deficiency and/or the outstanding loan amount the lender had to write off. In all of the short sales I have completed over the years, not one of my sellers has had a problem with the IRS or with having to pay a short sale deficiency. However, it is recommended that you consult your CPA or a tax attorney for additional information regarding this matter. For immediate assistance, please contact Lisa Jefferson, Georgia Short Sale Help, 678.480.5054. This is a FREE service. Contact Atlanta Homebuyers Realty Group http://www.lisajefferson.com End
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