Short Sales can be a "win, win" situation for both buyers and sellers. Some sellers however, have addressed concerns about having to pay taxes on the amount that was forgiven by the mortgage holder.

Linda Holdredge, CPA for Hanna Holdredge & Associates who services clients in the Loveland, Berthoud, Ft. Collins, Johnstown, Greeley, Longmont and surrounding Northern Colorado areas wrote an amazing letter that explains the Debt Cancellation Income that is not taxable! 

CLICK HERE TO READ THE LETTER!