The Mortgage Debt Relief Act of 2007 to extend through 2014? UPDATE

By
Real Estate Broker/Owner with NoVa Brokers LLC 0225 094634

 

This is the letter I got back from one of our Senators regarding the Mortgage Debt Relief Act of 2007 hopefully will be extended through 2014.

 

 

Dear Ms. Barbour:

 

Thank you for contacting me to express your support for an extension of the Mortgage Debt Relief Act.  It's great to hear from you.

 

Making sure every American has access to safe, affordable housing is the first step toward building communities and ensuring hope and opportunity for all Americans.   Without the right policies, the effects of foreclosure can be devastating not just to the homeowner, but to their communities and the entire nation.

 

The Mortgage Debt Relief Act  of 2007  allows  homeowners   to eliminate the tax penalty from  ebt reduced through mortgage restructuring or a  foreclosure of their  principal residence   This program expires at the end of 2012, but would be extended through 2014 by the  Mortgage Forgiveness Tax Relief Act  (S. 2250).  This legislation is currently pending before the Senate Finance Committee.  Knowing of your support for S. 2250 will be helpful to me should it come before the full  Senate.  


Again, thank you for contacting me.  Please let me know if I can be of help to you in the future.

 

 


Sincerely, 
Barbara A. Mikulski
United States Senator 

  *********************************************************************



I hope that this becomes a done deal, since there are so many people out there in need of this extension.  There are still lots of short sales out there and this would help!





Posted by

FOR ALL YOUR REAL ESTATE NEEDS

 

STELLA BARBOUR

NoVa Brokers LLC

1483 Chain Bridge Road Suite 103

McLean, Virginia 22101

571-814-3002 OFFICE

703-999-6104 CELL

571-281-2866 FAX

www.stellabarbour.com

stellabarbour@yahoo.com

Licensed in Virginia & Maryland

 

 

http://www.stellabarbour.com/default.asp

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
Maryland
Groups:
Real Estate Rookie
Short Sales Specialists
The Lounge at Active Rain
Realtors®
Short Sale REALTORS®
Tags:
experienced short sale realtor
nova brokers
sell homes in va and md
short sales
stella barbour
the mortgage debt relief act of 2007

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
233,633
David Grbich
Ventana Coastal Properties - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

Hi Stella - great advocacy - hoping they get this passed!! Regards Dave

Dec 11, 2012 01:32 PM #1
Rainmaker
435,055
Jim Patton
Century 21 M&M - 209-633-2839 - Turlock, CA
Realtor - Stanislaus & Merced county Realtor.

I sure hope they extend it Stella.  If not we will be going back to more foreclosures.  Thanks for sharing.

Dec 11, 2012 01:32 PM #2
Rainmaker
194,306
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

I hope this is true!  All real estate professionals must write their representatives and senators.  http://www.senate.gov and http://www.house.gov but the best is http://www.congress.org/news/ as the links on the top, right let you email all your Federal and State representatives at once! 

Encourage homeowners to write too!

Dec 11, 2012 01:39 PM #3
Rainmaker
158,277
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Thanks David.  I hope they get it passed too.

Dec 11, 2012 01:47 PM #4
Rainmaker
158,277
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Thank Jim.  I am keeping my fingers crossed.  

Dec 11, 2012 01:48 PM #5
Rainmaker
158,277
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Dee, I have written both through MD and VA Realtor boards and so far this is the only letter I got back.  I try to encourage everyone to do the same.   This is so important to our business.

Dec 11, 2012 01:49 PM #6
Rainmaker
848,648
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

Darn - I was hoping that this was news that they had actually taken action.

Dec 11, 2012 02:01 PM #7
Rainmaker
848,648
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

Sella - I decided to see if I could learn more, and I found this site and page regarding the extension of the credit.

S. 2250 was sent to the finance committee last March... And there are 11 other similar bills, also just sitting there.

Dec 11, 2012 02:14 PM #8
Rainmaker
1,269,076
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

Stella - Hopefully your are right on the Mortgage Debt Relief Act of 2007 to extend through 2014. Many home owners will benefit from it.

Dec 11, 2012 03:39 PM #9
Rainmaker
158,277
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

Marte - I have been keeping my fingers crossed.  I was hoping that more people would write to their senators because this is so important.  I have short sales pending and will not close until January which is upsetting my sellers. 

Dec 12, 2012 04:50 AM #10
Rainmaker
158,277
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

John - this would be great.  Keeping my fingers crossed.

Dec 12, 2012 04:51 AM #11
Rainmaker
1,134,366
Ginny Gorman
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Stella, the support is necessary and thanks for posting on the Mortgage Debt Forgiveness act...we absolutely need it extended for struggling homeowners to do short sales!  Merry Christmas!

Dec 24, 2012 05:45 AM #12
Rainmaker
158,277
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

I hope we get that extension Ginny.  I have a lot of clients with their fingers crossed.

Dec 24, 2012 05:58 AM #13
Post a Comment
Spam prevention
Show All Comments
Rainmaker
158,277

Stella Barbour

Principal Broker, Serving Virginia and Maryland
Ask me a question
*
*
*
Spam prevention