You need Real Estate & mortgage professional you can trust. You need a company that values honesty and integrity throughout the entire organization. You need top planning specialists who give you their best consistently. You need to find strength, stability and opportunity—especially now. You need New Century Realty & Lending!

When dealing with your real estate home financing, we are not only working with one of your largest personal financial investments; we also are handling one of your biggest dreams. Since we work with matters so close to the heart, we serve you from ours.

New Century Realty & Lending can meet you where you are and help you where you are going. Let us provide you a professional service without obstacles.

Financial Issues of a Shortsale

Don't expect a short sale to solve all financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:

• Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
• Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.