Mortgage Forgiveness Debt Relief Act has been Extended! Wellington FL

By
Real Estate Agent with Hansen Real Estate Group Inc.

Mortgage Forgiveness Debt Relief Act has been Extended!

The Mortgage Forgiveness Debt Relief Act has been extended another year until January 1st, 2014! For those unfamiliar with the Mortgage Forgiveness Debt Relief Act it is a provision that prevents homeowners from having to pay income taxes on the portion of their mortgage that is forgiven in a short sale, principal reduction or foreclosure. This is great news for Wellington homeowners who need to do a short sale.

Mortgage Forgiveness Debt Relief Act has been Extended! Wellington Short Sale SellersIf you are considering short selling your Wellington home contact us today! To learn more about Wellington short sales visit: Wellington Short Sale Q & A

Take a sneak peek at our comprehensive marketing plan that is sure to get your Wellington home SOLD! Wellington Short Sale Marketing Plan

For more information about the Mortgage Forgiveness Debt Relief Act visit:
http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation


Originally posted at http://wellingtonhometeam.com/mortgage-forgiveness-debt-relief-act-extended-for-one-year/


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Topic:
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Florida Palm Beach County Wellington Village Of Wellington
Groups:
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Palm Beach County Homes for sale- South Florida Real Estate for Sale
Wellington Homes for sale- South Florida Real Estate for Sale
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Rainmaker
1,803,273
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO

Michelle

Extending the Mortgage Forgiveness Debt Relief act until 2014 is a step in the right direction for the housing market.

Good Luck and success.

Lou Ludwig

Jan 05, 2013 06:15 PM #1
Rainmaker
185,523
The Brewer Team - Franklin TN Homes
Benchmark Realty - Franklin, TN

Michelle - this is something that shouldn't have to be done. It doesn't make sense that you would have to pay taxes on a big loss. Our tax policies need to be rewritten immediately.

Jan 05, 2013 06:55 PM #2
Rainmaker
906,592
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

This is great news for Wellington short sellers as well as everyone considering a short sale.  It is a huge relief for the housing market as a whole.

Jan 05, 2013 07:21 PM #3
Rainmaker
1,919,051
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great news for those contemplating a short sale on their primary residence (or their primary residence within the past two years),

Jan 06, 2013 04:44 AM #4
Rainmaker
1,067,017
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
PasadenaCA Real Estate Representation 818.516.4393

Hi Michelle - you're right this is excellent news for distressed homeowners. 

Jan 06, 2013 09:25 AM #5
Rainmaker
401,882
Shannon Milligan, Richmond VA Real Estate Agent
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

Glad to see this was extended. Anyone thinking about doing a short sale in Wellington Florida should call Michelle Gibson, Wellington Florida Realtor.

Jan 06, 2013 12:04 PM #6
Rainmaker
1,259,502
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

I obviously agree with all of your comments, this was great news.

Jan 19, 2013 04:18 PM #7
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Rainmaker
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Michelle Gibson

REALTOR
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