3 conditions were met. Have a registered RE agent, sell by certain date & sale price being accepted by my mortgage co. Mortgage Co. told me to obtain a FORGIVENESS FORM from IRS to eliminate the tax on $35,000.00. At closing, a credit card lien had to be paid of $5000.00 leaving me $30,000.00 which I received. If this is true, what is the form I need and how do I obtain it?
Estate Planning Attorney
You will need to either go to the IRS website or call them to get the proper form. I would try the website first.
My answer is of a general nature and should not be construed to be legal advice nor creating an attorney-client relationship. Carol Johnson Law Firm, P.A. practices in the area of Wills, Trusts, and Estates, Disability - with a particular focus on providing Special Needs Trusts for disabled children and adults.
Real Estate Attorney
Yes many short sales offer those incentives. Speak to a real estate attorney to assist you