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Wednesday, January 2, 2013
Mortgage Forgiveness Debt Relief Act Extended Thru Jan 1, 2014
A major win for the housing market- the Mortgage Forgiveness Debt Relief Act of 2007 was further extended for another year, as Congress & the Senate settled the issue late January 1, 2013.
This means that any type of principal reduction sought by homeowners thru a short sale, loan modification will continue to get exemption from taxation.
Homeowners seeking a short sale are encouraged to keep their properties active in the market. If you are a homeowner looking to do a short sale, it is best to consult with an experienced REALTOR/ Short Sale Specialist without further delay. The 12 months can go by quickly!
Blessed New Year to all!
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Its means that any kind of primary decrease searched for through home owners through a brief purchase, mortgage loan modification may still obtain exemption through taxation.Mortgage Notes for Sale
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