us mortgage forgiveness debt relief act of 2007: Mortgage Debt Forgiveness by U.S. Law Set to Expire at the End of 2012 - 01/03/12 09:08 PM
 
U.S. law - Mortgage Forgiveness Debt Relief Act of 2007 - applies to debt forgiven in calendar years 2007 through 2012 - including possibly debt forgiven through SHORT SALE process.
The law allows exclusion of income realized as a result of modification of the terms of a mortgage, or foreclosure, on your principal residence, for those who qualify.
Any person participating in a SHORT SALE and whose property qualifies under the Mortgage Forgiveness Debt Relief Act of 2007 will need to get that property sold and closed escrow before the end of this year 2012.
Some forgiven debt is taxable.  This U.S. … (0 comments)

 
Harrison K. Long, business, REALTOR , GRI, Broker (Coldwell Banker Previews, Irvine, South OC) Rainmaker large

Harrison K. Long

business, REALTOR , GRI, Broker

Irvine, CA

More about me…

Coldwell Banker Previews, Irvine, South OC

Address: 6833 Quail Hill Parkway, Irvine, CA, 92603

Office: (949) 854-7747

Mobile: (949) 701-2515

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