Are you considering a Chester County short sale on your home? If so, then we’d like to encourage you to get the ball rolling on the Chester Country short sale process in order to take advantage of some tax saving benefits. Currently, the Mortgage Debt Forgiveness Relief Act is in place until the end of the year. There hasn’t been talk to renew it, although many Chester County short sale experts are hoping that it does get renewed. The Mortgage Forgiveness Debt Relief Act was established back in 2007 to provide tax relief to homeowners that completed a short sale on their home. It has been renewed twice before so Chester County short sale experts are hoping that it will get renewed again.

So, what does this mean for homeowners that want to complete a Chester County short sale? It means they need to get the process started NOW. While the amount of time it takes to complete a Chester County short sale has decreased drastically over the past few year, when completing any short sale, it is best to have time on your side; there’s no telling when an issue will arise and delay the processing of your transaction. If you haven’t already sought the help of a Chester County short sale specialist, now is the time to get in touch with one to get started.

If you are at all considering a Chester County short sale on your home, believe me, you want to take advantage of the Mortgage Forgiveness Debt Relief Act. It has the potential to save you thousands of dollars at tax time. If you are worried that you might not get your Chester County short sale completed in time to qualify for the MFDRA, there are other ways to avoid paying taxes; the MFDRA is just one that most homeowners qualify for. To find out more, contact your local Chester County short sale specialist today and get the process started so you can save yourself thousands of dollars.