Push to Renew Mortgage Debt Forgiveness Gains Steam in Senate

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  1. More than 500 affiliated agents and independent brokers from CENTURY 21 Real Estate will be hitting the Hill today urging for Congressional action on the Heller legislation… SMARTER.BOLDER.FASTER.

  2. Jessica Sala

    Great post totally agree with Heller….“I can’t make sense of anyone having to pay tax on income they never see,” Heller said.

  3. Doesn’t this happen every year? Amazingly in the last part of the year Congress will finally pass something that will exempt the ghost income. Would be nice if they passed it sooner rather than later to help many homeowners know where they will stand after a short sale.

  4. Thanks for the article. Truthfully it is not income. It is a loss. It is money borrowed that the owner was unable to repay. If they cannot pay the mortgage what makes anyone think they can pay the taxes on it. Plus the borrower has also taken a big hit to their credit score. There is no reason to tax this “none income”.

  5. Interesting Article. This is very much a loss and is no reason to tax. Hopefully lawmakers figure out this new push to renew mortgage debt forgiveness. Seems like this might get a lot of attention in the near future.

  6. This is a great article on short sales. I appreciate your expert opinions. Thank you for posting.