As an essential service provider, we are open and here to help you access the courts. We specialize in child custody, domestic violence and all other areas of family law.
How Will Foreclosing on My House Change My Taxes? Integrity & Commitment To Client Service

How Will Foreclosing on My House Change My Taxes?

Roseville Foreclosure Lawyers

When a mortgage company forgives part of your debt in a foreclosure or short sale, that forgiven debt can be considered phantom income by the IRS. Even though you received no money, you received value. Before you sign any mortgage documents, talk to a Roseville bankruptcy attorney about your circumstances to ensure you don't make a decision you regret.

Call (916) 675-3866 for a free bankruptcy consultation with an attorney.

How Can I Get the IRS to Leave Me Alone? Should I Short Sell My House?

The IRS will not go away. Relief of debt will be documented by a form 1099C — a notice that you received monetary value. You could owe taxes on that value.

Short sales can create a tax liability.

Homeowners who owe more on their mortgage than their home is worth (also called being 'underwater') may choose to short sell their home, avoiding foreclosure in exchange for a tax obligation and a lower selling price. Is a short sale worth the tax obligation? Talk to your attorney to find out.

Short sales can also generate paper profits on which you will be required to pay taxes. What seemed like a good deal to avoid home foreclosure can become a tax pitfall in many cases. Contact an experienced lawyer who knows how to evaluate your options from every angle — including the tax angle.

Know the tax implications before you make a foreclosure decision.

Before you decide to make a decision such as short-selling your home, you should speak with an experienced foreclosure lawyer. At Cecil Cianci Law, PC, our Roseville foreclosure attorneys will give you a free consultation to discuss your options. Contact us online or via phone at (916) 675-3866 to schedule your consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Client Success Stories

  • Jaime B.

    Sensitive to needs with my children, my time and my dollars

  • Lauren S.

    Helped me feel safe, important and always had my back

  • Jamey S.

    I've never met an attorney I felt I could trust like Melissa

  • Krishna V.

    Takes time to discuss the case and answers all my questions patiently and calmly

  • Stacy O.

    She will ensure that you're taken care of

  • Ryann D.

    Has your best interest at heart and cares

  • Alyssa R.

    A seamless process thanks to Melissa and the team of attorneys and support staff

  • Dana A.

    Extremely knowledgeable, organized and professional!

  • Amber B.

    A truly personal and professional attorney

  • Scott R.

    Could not be happier with the help they offered me through a tough time

  • Eric R.

    I felt cared for and protected

  • Tami M.

    Made both sides feel extremely comfortable with the agreement and outcome

  • Gary B.

    Does her "homework" to best represent her client

What Makes Us Different? 

  • Big Firm Experience, Small Firm Approach
  • Unique Approach & Personalized Strategy For Every Case
  • Helping You Maintain Your Way of Life After Divorce
  • Educate Our Clients So They Can Make Informed Decisions
  • Transparent Representation Based on Honesty & Integrity
  • Nearly Five Decades of Combined Experience

Take The Next Step

Schedule a Consultation
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.