Mortgage Debt Forgiveness Act

For those of you who may not have known, the Mortgage Debt Forgiveness Act is set to expire at the end of this calendar year.

This act is an income tax exemption on mortgage debt forgiven in a short sale or a work out for principal residences.

Read the article from NAR informing you of the call to action in order to help the more than 5 million home owners affected by this act.

 

http://realtormag.realtor.org/daily-news/2014/12/02/help-extend-mortgage-debt-forgiveness?om_rid=AAAmAy&om_mid=_BUfivWB8$AgNDZ&om_ntype=RMODaily