Time is Running Out!!Take Advantage of the Mortgage Debt Relief Act

By
Real Estate Broker/Owner with Cam Realty and Property Management

Time is Running Out!! Take Advantage of the Mortgage Debt Relief Act

What is Mortgage Debt Relief Act?Homeowner who received a principal reduction or other forms of forgiveness such as through Short Sale of their primary residences do not have to pay taxes on the amount forgiven. Without the act reduced debt through loan modifications or Short Sales would qualify as an income and homeowners would be responsible to pay taxes on the amount forgiven.

Mortgage Debt Relief Act Due to Expire?Act was first introduced as a temporary relief to distressed homeowners and provided them with options to avoid foreclosure. It is set to expire the end of 2012.

I would urge all distressed homeowners to take advantage of the Mortgage Relief Act now and change your financial direction, avoid foreclosure.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Tags:
mortgage debt relief act

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,496,256
Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Beth, I read a post yesterday, with a video from an attorney says. don't worry....

Jun 22, 2012 08:22 PM #1
Rainmaker
552,629
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

I've read and also heard on the news about a possible extension, however, hasn't happened yet. Hope it does!!

Jun 22, 2012 08:26 PM #2
Post a Comment
Spam prevention
Show All Comments
Rainmaker
552,629

Beth Atalay

Cam Realty of Clermont FL
Sell or Buy Homes in Clermont FL
*
*
*
Spam prevention

Additional Information