Port Orange Area News: Softball Brawl at the Beach!!

What a great opportunity to see some Major League Baseball Players and some area athletes compete for Charity , here in Daytona Beach at the Brawl at the Beach Charity Softball Event.

Three Winners of the Amateur Home Run Derby from this past weekend will compete against some of the Pros on Friday Night at 7 P.M. . The Amateur competitors are :  Gary Malphurs, Chris Gatewood, and Roger Huff .
The two Amateur Teams that will compete for the chance to play the Big Leaguers are: 7th Inning Villains, and Giles Electric. They will play at 1 P.M. on Saturday with the winner facing off against the MLB Martians (pros) at 3 P.M. .

Where  : Jackie Robinson Ballpark.
Tickets : $10 Adults, $5 Children 4-13 for Home Run Derby  -  $15 Adults, $5 Children 4-13 for Softball Game ; Children 3 and under are free
               
The Home Run Derby and Softball Game are benefiting Foundation -4, the charity of St. Louis Cardinals Catcher:  #4 Yadier Molina.

LOOK HERE !!
For an Additional $15 - There is an Autograph Session Friday and Saturday , before the events. Limited Tickets available.

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Port Orange Real Estate News: Tax Relief for Short Sales !

Along with the Fiscal Cliff facing the Nation at the end of the month, is the end of the Mortgage Forgiveness Debt Relief Act effective since 2007. Most people won't be affected by the scheduled end of this Act. The people that will be affected the most are those that could afford it the least.

When a home is Sold through Short Sale, the bank is accepting a payoff for less than they are owed. They are "short" on their income. They have to show that forgiven amount as an income to the seller to the IRS. The Mortgage Forgiveness Debt Relief Act basically said that homeowners selling their homes through short sale would not have to pay taxes on the Forgiven Debt. This amount could be as big as $100,000.00 or more, which would be a big Income Tax Bill at the end of the year.

 An extension is included in the Family and Business Tax Cut Certainty Act of 2012 that recently passed out of the Senate Finance Committee with bipartisan support. If this Act does not get passed by Dec. 31, 2012 , then all home owners selling through Short Sales will be paying taxes on their sale.

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